Allied Capital Finances Acquisition of Leading Alternative Fuel Provider.Business Editors WASHINGTON--(BUSINESS WIRE)--Sept. 26, 2002 Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) today announced that it has provided $10 million of subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". to Headwaters Incorporated (Nasdaq:HDWR) for the acquisition of Industrial Services Group, Inc. (ISG ISG Iraq Study Group ISG Iraq Survey Group ISG International Steel Group ISG Integrated Security Gateway ISG Information Systems Group ISG Information Systems Group (IBM) ISG Integrated Starter/Generator ) and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , ISG Resources Inc. Headwaters is a world leader in developing and deploying alternative fuel and energy-related technologies. Through its proprietary Covol Fuels process, Headwaters adds value to the production of coal-based solid alternative fuels primarily for use in electric power generation plants. ISG is the nation's largest marketer and manager of coal post-combustion products (CCPs), one of which is fly ash used as a high-quality replacement for cement in building supplies. "We see significant benefits for our customers in bringing together Headwaters' pre-combustion technologies with ISG's post-combustion market leadership," said Kirk Benson, Chief Executive Officer of Headwaters. "Our new company is a clear leader in effectively utilizing America's abundant coal reserves through technology and services." Bill Walton, Allied Capital Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "Both Headwaters and ISG are market leaders and their combination has created one of the largest coal industry service providers in the country. Allied Capital recognized an opportunity to invest in a company positioned to expand its customer base and take advantage of favorable trends in the development and application of coal by-products. We look forward to future opportunities to support Headwaters' growth initiatives." About Allied Capital Allied Capital is the nation's largest business development company and provides long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and equity investment capital to support the expansion primarily of private companies in a variety of industries. The company also participates in the real estate capital markets as an investor in non-investment grade commercial mortgage-backed securities. The company is headquartered in Washington, DC. For more information, please visit the web site at www.alliedcapital.com, call Allied Capital Investor Relations Investor relations The process by which the corporation communicates with its investors. toll-free at 888/818-5298, or e-mail us at ir@alliedcapital.com. About Headwaters Incorporated Headwaters Incorporated is a world leader in developing and deploying alternative fuel and energy-related technologies in the marketplace. Headwaters adds value to the production of coal-based solid alternative fuels for use in electric power generation plants. Through ISG, Headwaters is the nation's largest provider of coal combustion products Coal combustion products (CCPs) are categorized in four groups, each based on physical and chemical forms derived from coal combustion methods and emission controls:
Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in the company's periodic filings with the Securities and Exchange Commission. |
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