Automodular Signs Equipment Financing Agreement.TORONTO -- Automodular Corporation ("Automodular")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AM) announces that it has signed a $6 million equipment financing agreement for assets to be purchased for its new program in Oakville, Ontario Oakville (2006 population 165,613[2]) is a town on Lake Ontario in southern Ontario, Canada, midway between Toronto (about 31 km or 19 mi away) on its eastern border and Hamilton (about 20 km or 12 mi away) from its western border. . The facility will be repaid in equal monthly installments over a 6-year term starting Q3 2006. The closing of this agreement substantially completes the funding required by Automodular to complete its $22 million expansion in Oakville, Ontario. Automodular is a supplier of sub-assembly, sequencing, transportation and logistics services to 6 OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and plants in Ontario, Michigan and Ohio. The Company has 7 operating facilities and employs over 800 people. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on the SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review website at www.sedar.com. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Automodular Corporation (TSX:AM) |
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