Business
Dorel completes extension of US$300M credit facility
Dorel completes extension of US$300M credit facility
About this update from Dorel Industries Inc. Class A
[{"type":"text","content":"\n\n\n\n Jun. 16, 2010 (Canada NewsWire Group) -- \n >\n\n\nMONTREAL, June 16 /CNW Telbec/ - Dorel Industries Inc. (TSX: DII.A, DII.B) today announced it has completed the extension of its revolving credit facility. This three-year agreement which is effective July 1, 2010 and expires July 1, 2013 was co-led by the Royal Bank of Canada (TSX, NYSE: RY) and the Bank of Montreal (TSX, NYSE: BMO). The facility allows for borrowing up to US$300 million and contains provisions to borrow up to an additional US$200 million. This facility is in addition to US$200 million fixed rate long-term financing that was announced on April 6, 2010.\n\nProfile\n\nDorel Industries Inc. (TSX: DII.B, DII.A) is a world class juvenile products and bicycle company. Established in 1962, Dorel creates style and excitement in equal measure to safety, quality and value. The Company's lifestyle leadership position is pronounced in both its Juvenile and Bicycle categories with an array of trend-setting products. Dorel's powerfully branded products include Safety 1st, Quinny, Cosco, Maxi-Cosi and Bébé Confort in Juvenile, as well as Cannondale, Schwinn, GT, Mongoose, IronHorse and SUGOI in Recreational/Leisure. Dorel's Home Furnishings segment markets a wide assortment of furniture products, both domestically produced and imported. Dorel is a US$2 billion company with 4500 employees, facilities in nineteen countries, and sales worldwide.\n\nCaution Regarding Forward Looking Statements\n\nCertain statements included in this press release may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. Except as may be required by Canadian securities laws, Dorel does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from Dorel's expectations expressed in or implied by such forward-looking statements and that the objectives, plans, strategic priorities and business outlook may not be achieved. As a result, Dorel cannot guarantee that any forward-looking statement will materialize. Forward-looki...