Amcast Announces Three-Year Extension of Its Credit Facilities and Termination of Discussions with Citation.Business Editors DAYTON, Ohio--(BUSINESS WIRE)--Aug. 29, 2003 Amcast Industrial Corporation (AICO AICO ASEAN Industrial Cooperation Scheme AICO Army Internal Control Office .OB) today announced that the Company has restructured its credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities with its bank lending group and senior note holders. The bank and senior note credit maturities have been extended until September Until September is a 1984 romantic drama set in France. It stars Karen Allen as an American tourist in Paris who falls in love with a married Frenchman (Thierry Lhermitte). External links 14, 2006. The impact on Amcast's balance sheet will be to reclassify Verb 1. reclassify - classify anew, change the previous classification; "The zoologists had to reclassify the mollusks after they found new species" class, classify, sort out, assort, sort, separate - arrange or order by classes or categories; "How would you $169.4 million of debt from short term to long term. Amcast had $179.8 million in short-term debt Short-term debt Debt obligations, recorded as current liabilities, requiring payment within the year. at the end of its fiscal third quarter ended June 1, 2003. If this credit facility restructuring had been in place for Amcast's fiscal third quarter, short-term debt would have been $10.5 million, or 6% of total debt. Joseph R. Grewe, President and Chief Executive Officer, said, "Reaching agreement with the banks and senior note holders to extend our debt maturity is an important accomplishment. We appreciate the confidence our lenders expressed in Amcast and the support received from our suppliers. This debt extension provides Amcast with improved liquidity and operating flexibility while we work on achieving better operating performance. Since the beginning of this fiscal year, Amcast has reduced debt by $18.9 million." Amcast also announced the termination of discussions with Citation Corporation relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the possible sale of Amcast's Wapakoneta, Ohio Wapakoneta is a city in and the county seat of Auglaize CountyGR6, Ohio, United States with a population of 9,474 as of the 2000 U.S. census. It is the principal city of and is included in the Wapakoneta, Ohio Micropolitan Statistical Area, which is , Richmond, Indiana Richmond (IPA: [ˈrɪtʃ.mənd]) is a city in east central Indiana, which borders Ohio. It is sometimes called the "cradle of recorded jazz" because some early jazz records originated there at the studio of and Cedarburg, Wisconsin Cedarburg is a city in Ozaukee County, Wisconsin, United States. The population was 10,908 at the 2000 census. The city is located partially within the Town of Cedarburg. Cedarburg Cedarburg is a small suburban community about 20 miles north of Milwaukee. plants and its Southfield, Michigan office facility. Mr. Pond, Chairman of the Board, said "As part of our loan agreements, we are committed to a program to reduce our indebtedness that involves a review of various alternatives to seek the best alternative for our stakeholders. We would like to thank our lenders, customers, shareholders, employees and other stakeholders for their loyal support as we move forward." Amcast Industrial Corporation is a leading manufacturer of technology-intensive metal products. Its two business segments are brand name Flow Control Products marketed through national distribution channels and Engineered Components for original equipment manufacturers. The company serves the automotive, construction, and industrial sectors of the economy. This release includes "forward-looking statements" which are subject to change based on various factors and uncertainties that may cause actual results to differ significantly from expectations. These factors include, among others: general economic conditions less favorable than expected, fluctuating demand in the automotive and housing industries, price pressures in the Company's automotive and flow control businesses, effectiveness of production improvement plans, inherent uncertainties in connection with international transactions and foreign currency fluctuations, and labor availability and relations at the Company and its customers, ability of the Company to satisfy obligations under, and to comply with the covenants in, its loan documents, and the impact homeland security measures. |
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