Premier Tech

Premier Tech

April 01, 2009 10:15 ET

Premier Tech Announces an Additional CA$10M Financing Deal to Support its Growth

RIVIERE-DU-LOUP, QUEBEC--(Marketwire - April 1, 2009) - Premier Tech is pleased to announce today that it has put in place a $10 million financing deal with its guaranteed long-term lenders: RoyNat Inc, Farm Credit Canada and Business Development Bank of Canada. This amount brings back the loan balance with its financial partners to $60 million, which is equivalent to the long-term loan that was put in place with them in February 2007. This $10 million financing deal will be invested in the working capital of the company, and will increase its financial flexibility. This amount, combined with the recent $30 million debenture bond loan from the Fonds de solidarite FTQ, allows Premier Tech to benefit from the financial tools required to realize various business acquisitions and development projects.

This global $40 million add-on financing deal is part of the vision and development strategy of the company, which aims to support its long-term growth. The financing will accelerate Premier Tech's initiatives, including the acquisition of various businesses and strategic partnerships - alliances which have been key to the success and growth of the company for the last 45 years.

CORPORATE PROFILE

For over 85 years, Premier Tech has been building its know-how and reputation on the expertise and synergy of its seven business units, gathered in three groups - Horticulture and Agriculture, Industrial Equipment and Environmental Technologies. They have the mission to become technological and commercial leaders in their respective fields of expertise. Buoyed by a multidisciplinary team of over 1 600 people located in America, Europe and Asia, Premier Tech is building on the development of its personnel, on Innovation, and on the introduction of value-added products and services. Its strategic approach is supported by ongoing worldwide market development efforts.

Contact Information

  • Premier Tech
    Lynn Maurais
    Corporate Office Director
    418-867-8883, extension 6336
    418-862-6642 (FAX)
    maul@premiertech.com