Genesis Announces Credit Agreement Amendment.DAYTON Dayton, city (1990 pop. 182,044), seat of Montgomery co., SW Ohio, on the Great Miami River where it is joined by the Stillwater River; inc. 1805. It is the trade center for a fertile farm area, but is best known for its involvement with industry, invention, and , Ohio--(BUSINESS WIRE)--Dec. 2, 1999-- Genesis Worldwide Inc. (NYSE NYSE See: New York Stock Exchange :GWO GWO Good Working Order GWO Google Website Optimizer GWO Ginninderra Wind Orchestra (Canberra, Australia) GWO General Watch Officer GWO Gravel Watch Ontario GWO Gateway Wrestling Organization ) announced today that it has successfully negotiated an amendment to its $100 million credit agreement with ING Barings which addressed certain financial covenant violations. As a result of the amendment, the Company is now in compliance with all covenants contained in the Credit Agreement. Richard E. Clemens, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "We are pleased that we were able to conclude this amendment which provides us with the financial stability to focus on continuing to grow our businesses. As we reported in early November, customer orders at the coil processing segment returned to more normal levels in October from the low order level received during the third quarter. That trend has continued through November as the Company booked over $15 million of orders at this operation, exceeding the $12.5 million of orders recorded in October." |
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