TSX Trading Symbol: NAL
CALGARY, Oct. 9 /CNW/ - Newalta Inc. ("Newalta") (TSX:NAL) is pleased to announce today that as part of the annual renewal of the Credit Facility between its operating subsidiary, Newalta Corporation, and its Canadian lending syndicate, the terms of the Credit Facility have been amended by extending the maturity to October 12, 2011, and, at the election of Newalta, the principal amount has been reduced from $375 million to $350 million. There were no other amendments to the terms of the Credit Facility.
"The extension of our Credit Facility has been done in the normal course of business, while the reduction in the principal amount is in keeping with our focus on tightly managing costs and the routine management of our financial structure," said Mike Borys, Senior Vice President, Finance and Chief Financial Officer. "We thank our lending syndicate for their continued support and confidence in our business."
Newalta Inc. is Canada's largest industrial waste management and environmental services provider and focuses on maximizing the value inherent in industrial waste through the recovery of saleable products and recycling. It also provides environmentally sound disposal of solid, non-hazardous industrial waste. With talented people and a national network of facilities, Newalta serves customers in the automotive, construction, forestry, lead, manufacturing, mining, oil and gas, petrochemical, pulp and paper, refining, steel and transportation service industries. Providing solid investor returns, exceptional customer service, safe operations and environmental stewardship has enabled Newalta to expand into new service sectors and geographic markets. Newalta Inc. trades on the TSX as NAL. For more information, visit www.newalta.com.
SOURCE Newalta Corporation
For further information: For further information: Anne M. MacMicken, Executive Director, Investor Relations, Phone: (403) 806-7019