Business
TX Rail Products, Inc. Secures Credit Line Expansion at Attractive Terms to Accelerate Growth
TX Rail Products, Inc. Secures Credit Line Expansion at Attractive Terms to Accelerate Growth.
About this update from Tx Rail Products, Inc.
[{"type":"text","content":"\n ASHLAND, Ky., April 02, 2025 (GLOBE NEWSWIRE) -- TX Rail Products, Inc. (OTC Markets PINK: TXRP), a supplier of rail and rail products to the U.S. coal mining industry, short line railroads and tunneling contractors, today announced the signing of increasing the Line of Credit with its existing lender to support its growth strategy. The company has also implemented key initiatives to strengthen operations and effectively manage costs. New Credit Line The new credit line expands total availability from $500,000 to $1 million and was secured at an attractive and competitive interest rate of just 1% above prime. The facility provides the company with additional financial flexibility to further strengthen its supply chain and meet increasing customer demand for its rail products. Operational Updates In anticipation of changing market conditions, TX Rail Products proactively secured materials and supplies from regions unaffected by recent U.S. tariffs to hedge against future price increases. This was a strategic move to support cost stability for at least the next 8 to 12 months and position the company competitively from a pricing perspective despite market fluctuations. Furthermore, in response to growing business demand, the company also expanded its delivery capacity to improve its logistics capabilities, enhance efficiency and ensure timely service to customers as the company scales its operations. Mr. Shrewsbury, CEO and Chairman of TX Rail Products, Inc., commented, “Increasing our credit line, securing essential materials at favorable pricing and investing in our delivery infrastructure reinforces our ability to sustain our competitive position and deliver future growth. As we execute our operational roadmap, these milestones demonstrate our commitment to smart, sustainable expansion while maintaining a strong and resilient foundation.” Forward-Looking and Cautionary Statements Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA) and other applicable law. When used, the words \"believe\", \"anticipate\", \"estimate\", \"project\", \"should\", \"expect\", \"plan\", \"assume\" and similar expressions that do not relate solely to histor...