CUDAHY, Wis., Sept. 2 /PRNewswire-FirstCall/ -- Ladish Co., Inc. (
http://www.ladishco.com ) (Nasdaq: LDSH) today announced that it has secured $50
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 6.41% per annum and have a maturity date of September
2, 2015. U.S. Bank and SPP Capital Partners, LLC acted as advisors to the
Company on the private placement.
"The placement of $50 million of seven-year notes at a 6.41% 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 a syndicate of lenders led
by U.S. Bank, allow us the flexibility to continue creating value for our
shareholders through internal expansion and acquisitions."
Ladish Co., Inc. is a leading producer of highly engineered,
technically advanced metal components for the jet engine, aerospace and
general industrial markets. Ladish is headquartered in Cudahy, Wisconsin
with operations in Wisconsin, Oregon, Connecticut and Poland. 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, uncertainties 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
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
+1-414-747-2935, fax: +1-414-747-2602
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