TSX Symbol: WJX
TORONTO, Dec. 7, 2012 /CNW/ - On December 7, 2012, Wajax increased the
limit of its bank credit facility by $75 million on substantially the
same terms and conditions as the existing facility. The fully secured
facility, due August 12, 2016, is now comprised of an $80 million
non-revolving term portion and a $220 million revolving term portion.
At September 30, 2012, Wajax had utilized $129 million of the facility.
Commenting on the increase, Mark Foote, President and CEO, stated: "In
addition to taking advantage of the currently favourable borrowing
conditions, the $75 million increase will provide Wajax with additional
borrowing capacity to fund future growth, including increases in
working capital and acquisitions."
Wajax Corporation is a leading Canadian distributor and service support
provider of mobile equipment, power systems and industrial components.
Reflecting a diversified exposure to the Canadian economy, its three
distinct core businesses operate through a network of 119 branches
across Canada. Its customer base spans natural resources, construction,
transportation, manufacturing, industrial processing and utilities.
SOURCE: Wajax Corporation
For further information:
Mark Foote, President and Chief Executive Officer
John Hamilton, Chief Financial Officer
Telephone #: (905) 212-3300