Armstrong Corporation: Proposed Financing.Business Editors TORONTO--(BUSINESS WIRE)--Dec. 2, 2002 Armstrong Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:YRM YRM Youth Rights Media (New Haven, CT) ) ("Armstrong" or the "Company") announces that it will not be proceeding with the previously announced proposed $1,750,000 debenture financing from Min-Chem Canada (see Armstrong's October 30, 2002 press release). The Company has entered into discussions with its principal lender, GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Commercial Credit Corporation-Canada, to consider alternative financing arrangements going forward. Armstrong has operated for 33 years to become a leading Canadian manufacturer, packager and distributor of specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. products for consumer, institutional and industrial applications, including the sanitation and janitorial supply markets. The integrity of the current Management of Armstrong has drawn incredible support from the employees, suppliers and customers while "Solutions That Work" are put into action. |
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