CUDAHY, Wis., July 25 /PRNewswire/ -- Ladish Co., Inc. (Nasdaq: LDSH)
(http://www.ladishco.com) today announced that it has secured $30 million of
long-term financing through the private placement of senior notes with a
number of institutional investors. The senior notes bear interest at a rate
of 7.19% per annum and have a maturity date of July 20, 2008. Firstar Bank
and SPP Capital Partners, LLC acted as advisors to the Company on the private
placement.
"The placement of $30 million of seven-year notes at a 7.19% interest rate
provides us with attractively priced, long-term support to improve and grow
our business," says Wayne E. Larsen, Ladish's CFO. "These notes combined with
our revolving line of credit from U.S. Bancorp allow us the flexibility to
continue creating value for our shareholders through expansion, acquisitions
and our share repurchase program."
Ladish Co., Inc. is a leading producer of highly engineered, technically
advanced components for the jet engine, aerospace and general industrial
markets. Ladish is headquartered in Cudahy, Wisconsin with operations in
Wisconsin, Oregon and Connecticut. Ladish common stock trades on Nasdaq under
the symbol LDSH.
This release includes forward-looking statements that are made pursuant to
the safe harbor provisions of the Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to certain risks and uncertainties
that could cause actual results to differ materially from those projected in
them. These risks and uncertainties include, but are not limited to,
anticipated slowdowns in the company's major markets, the impact of
competition, the effectiveness of operational changes expected to increase
efficiency and productivity, worldwide economic and political conditions and
the effect of foreign currency fluctuations.
SOURCE Ladish Co., Inc.
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Related links:
http://www.ladishco.com
Company News On-Call:
http://www.prnewswire.com/comp/131444.html
CONTACT:
Wayne E. Larsen, of Ladish Co., Inc.,
+1-414-747-2935, fax - +1-414-747-2890; or William J. Libby of
Libby Communications, +1-203-431-8480, fax - +1-203-431-6132, for
Ladish Co., Inc.
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