Baker Doubles Credit Capacity Under New Facility.Business Editors & Energy Writers PITTSBURGH--(BUSINESS WIRE)--Sept. 19, 2001 Michael Baker Corporation Michael Baker Corporation is an engineering and energy management corporation headquartered in the Pittsburgh suburb of Moon Township, Pennsylvania. Its headquarters is located in Airside Business Park, an office park near the Pittsburgh International Airport that the company (AMEX AMEX See: American Stock Exchange :BKR BKR Baker BKR Birkirkara (postal locality, Malta) BKR Breaker BKR Broadcast Key Rotation BKR Best-Known Recipe ) has entered into a $40.0 million revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility with a consortium of Pennsylvania and Ohio financial institutions. The company intends to use the funds available under the facility for acquisitions and general corporate purposes. Mellon Bank, N.A., is the lead bank for the facility, and is joined by National City Bank and Fifth Third Bank. The new arrangement doubles Baker's existing credit capacity and provides improved terms and conditions. "We are pleased to have obtained the new credit facility with this strong group of local institutions," Donald P. Fusilli fu·sil·li n. Pasta in short spirals or corkscrews. [Italian, from pl. diminutive of fuso, spindle, from Latin f  sus.] , Jr., president and chief executive officer, said. "This arrangement provides us with the additional borrowing capability we will need to execute our growth agenda for the company." Michael Baker Corporation (www.mbakercorp.com) provides engineering and energy expertise for public and private sector clients worldwide. The firm's primary services include engineering design for the transportation and civil infrastructure markets, operation and maintenance of oil and gas production facilities, architecture, environmental services, and construction management for building and transportation projects. Baker has more than 3,800 employees in over 35 offices across the United States and internationally. |
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