TORONTO, July 19, 2012 /CNW Telbec/ - GE Capital, Canada announced that
it has refinanced the existing revolving term loan facility provided to
Western Forest Products Inc. (TSX: WEF). The facility has been
increased by $35 million to a total of $110 million.
With products sold in over 25 countries worldwide, Western is the
largest coastal British Columbia woodland operator and lumber producer.
Principal activities conducted by the company include timber
harvesting, reforestation, sawmilling logs into lumber and wood chips
and value-added remanufacturing.
"Through increased availability and extended terms, this facility will
provide our company with additional flexibility to execute our
strategic capital plan," said Dominic Gammiero, Western's Chairman and
CEO. "We appreciate GE Capital's confidence and support as we continue
to implement our long-term growth strategies to position Western well
for the future."
"We are pleased to continue to help Western Forest Products in reaching
their business goals," said Ellis Gaston, managing director, GE
Capital, Corporate Finance, Canada. "We leverage our industry
knowledge, expertise and financial capabilities in order to provide
customers such as Western with customized and flexible credit
facilities that help them concentrate on growing their businesses."
About GE Capital, Canada
With more than 20 offices throughout Canada, GE Capital (gecapital.ca) offers a wide variety of financial products and services to address
commercial financing and fleet management needs in all phases of a
business' lifecycle. From equipment finance to working capital and
growth financing to large asset-based and restructuring loans, we apply
our wealth of industry expertise and develop custom solutions for your
company. Some of the industry sectors we specialize in include
transportation, construction, healthcare, agriculture, forestry,
manufacturing, oil & gas, wholesale & retail, restaurant and hotel
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building,
powering, moving and curing the world. Not just imagining. Doing. GE
works. For more information, visit the company's website at www.ge.com.
SOURCE GE CAPITAL CANADA
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GE Capital, Canada