NewswireToday - /newswire/ -
Norwalk, CT, United States, 2009/12/09 - GE Capital, Corporate Finance today announced it provided a $30 million revolving credit facility to Harcros Chemicals Inc., a major distributor and producer of industrial chemicals (NYSE: GE). NYSE: GE
The loan refinances the company’s existing credit and supports ongoing working capital needs. The facility may be increased to $35 million, subject to certain conditions.
Founded in 1917, Kansas City, KS-based, Harcros Chemicals Inc. is one of the largest chemical distributors with 28 branches operating in North America. Harcros also manufactures a broad range of specialty organic chemicals including surfactants, emulsifiers and defoamers.
“For eight years now we’ve continued to build on our strong working relationship with GE Capital,” said Kevin Mirner, CEO, Harcros Chemicals. “This financing provides added liquidity and flexibility to meet our business objectives.”
“We strive to work with clients and understand their particular needs in order to structure the right financing,” said Tom Quindlen, president and CEO, GE Capital, Corporate Finance. “In-depth knowledge of the capital-intensive chemical sector together with solid underwriting leads to smarter liquidity solutions.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance is one of the largest providers of asset-based, cash flow and structured loans and leases for mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace & Defense, Automotive & Transportation, Chemicals & Plastics, Corporate Aircraft, Financial & Business Services, Food, Beverage & Agribusiness, Government Finance, Marine, Metals & Mining, Paper, Packaging & Forest Products, Retail, Technology & Electronics. Visit gelending.com/clnews.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews). GE (ge.com) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems.
Jeff Wilson, GE Capital, Corporate Finance
P: +1 203 749 6340
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