TORONTO, Nov. 5, 2014 /CNW Telbec/ - GE Capital Canada announced today that it has provided an $8.8 million senior secured credit facility to DBG Canada Ltd., commonly known as DBG Metal Manufacturing, a leading manufacturer of heavy duty truck parts. DBG will use the proceeds to refinance an existing term loan and for working capital.
Founded in 1978 and headquartered in Mississauga, ON, DBG is a global industry leader in the design and manufacture of metal stampings, modular welded, structural welded and mechanical assemblies for truck manufacturers including Navistar International Corp. DBG also provides design, tooling and manufacturing services to companies in the automotive, military and agriculture industries. It has more than 900 associates working in six facilities in Canada and Mexico.
"Through increased flexibility and liquidity, this credit facility will be very helpful as we execute our strategic growth plan," said Michael De Biasi, president and CEO of DBG. "We appreciate working with a lender that has deep expertise in the metals and manufacturing sectors and the ability to support us in Canada and in other countries where we do business."
"We're pleased to support DBG's growth plans," said Alain Dupont, senior vice president, corporate finance, GE Capital Canada. "The manufacturing sector is a critical one for Canada and is a major area of focus for GE Capital."
About GE Capital, Canada
With 19 offices throughout Canada, GE Capital (www.gecapital.ca) offers a wide variety of financial products and services to address commercial financing and fleet management needs in many phases of a business' lifecycle. From equipment finance to working capital and growth financing to large asset-based and restructuring loans, we apply our 30 years of experience in the Canadian market and wealth of industry expertise to develop custom solutions for your company. Some of the industries in which we specialize include transportation, construction, manufacturing, aerospace, automotive, mining, energy, wholesale, retail, and restaurant and hotel franchise financing.
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
For further information: GE Capital, Americas, Lisa Tibbitts, 203-956-4582, [email protected]