Amertranz Worldwide Holding Corp. announces $10 million credit facility.LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Jan. 16, 1997--Amertranz Worldwide Holding Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMTZ AMTZ Amtrak (railroad marking) ) announced today that it has entered into a three-year, $10 million Accounts Receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying Management and Security Agreement with BNY BNY Bank of New York Financial Corp. The terms of the agreement provide that BNY may advance Amertranz up to $10 million on the basis of the company's accounts receivables. Stuart Hettleman, president and chief executive officer said, "Amertranz is extremely pleased to have obtained this facility. The additional available capital provides Amertranz with greater financial flexibility to fulfill its strategic goals which include internal expansion and acquisitions." Amertranz Worldwide Holding Corp. provides freight forwarding services through its wholly-owned subsidiaries, Amertranz Worldwide Inc. and Caribbean Air Services Inc. The Company also provides total logistics services. CONTACT: Amertranz Worldwide Holding Corp. Stuart Hettleman 516/326-9000, ext. 200 or KSCA KSCA Karnataka State Cricket Association (India) KSCA Kansas Scholastic Chess Association KSCA Kansas School Counselor Association KSCA Knight of the Society for Creative Anachronism (Medieval Recreationists) , New York Adam I. Friedman or Jeff Corbin 212/682-6300, ext. 215/214 |
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