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SUN ELECTRIC CORPORATION ANNOUNCES EXTENSION OF CREDIT AGREEMENT

 SUN ELECTRIC CORPORATION ANNOUNCES EXTENSION OF CREDIT AGREEMENT
 CRYSTAL LAKE, Ill., June 30 /PRNewswire/ -- Sun Electric Corp. (NYSE: SE) announced today that it has signed an agreement with its United States commercial bank to extend the company's $10 million revolving credit facility in the United States. The extension amends certain provisions of the parties' existing credit agreement and extends the agreement's term through Sept. 30 of this year.
 The company believes that a $10 million credit facility is not sufficient to meet its domestic operating and working capital needs. Accordingly, the company is negotiating with asset based lenders to replace this facility with one at a level and for a duration sufficient to meet the company's anticipated operational needs in the United States. The company believes that such increased credit facility will be in place within the next 30 to 45 days. In the interim, the company will continue planned cost reductions, further extend the payment date of trade payables and restrict production of certain products.
 -0- 6/30/92
 /CONTACT: Martin M. Ellen of Sun Electric Corp, 815-459-7700 /
 (SE) CO: Sun Electric Corp. ST: Illinois IN: SU: FNC


LD -- NY105 -- 5424 06/30/92 20:20 EDT
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Publication:PR Newswire
Date:Jun 30, 1992
Words:198
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