EMJ reports credit-line renewal.BREA, Calif.--(BUSINESS WIRE)--March 19, 1997--The Earle M. Jorgensen Co. (EMJ EMJ Emergency Medicine Journal ) Wednesday announced that its $175 million revolving-credit agreement with 11 banks led by Bankers Trust The Bankers Trust is a historic American banking organisation that was acquired by Deutsche Bank in 1998. It was originally set up when banks could not perform trust company services. has been extended through Sept. 30, 1999. The existing bank agreement was due to expire in March 1998. There will be no change in the interest rates or covenants restricting EMJ's operations. The extension to Sept. 30, 1999, is considered routine by the banking syndicate and is indicative of its confidence in EMJ's ability to manage its debt. EMJ, with headquarters in Brea, is one of the largest independently owned distributors of metals in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with service centers, processing centers and foreign operations located throughout Canada, Mexico, Singapore and the United Kingdom. EMJ inventories more than 50,000 sizes, shapes and grades of bar, sheet, plate, structural, expanded metals, tubing and pipe in carbon, alloy alloy (ăl`oi, əloi`) [O. Fr.,=combine], substance with metallic properties that consists of a metal fused with one or more metals or nonmetals. steel, stainless steel, stainless, n a steel that contains a minimum of 12% chromium and approximately 0.5% carbon to resist corrosion. and specialty aluminum and steel. CONTACT: Earle M. Jorgensen Co., Brea Charles Gallopo/Fred Parker, 714/579-8823 714/577-3754 (fax) |
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