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DHB announces new $35 mn credit facility with LaSalle
06 Apr '07
2 min read
DHB Industries Inc, a leader in the field of protective body armor, announced that the Company and its subsidiaries Point Blank Body Armor Inc, Protective Apparel Corporation of America and NDL Products Inc have entered into a Loan Agreement with LaSalle Business Credit.
The Loan Agreement provides a three-year $35 million secured revolving credit facility available to the Company's subsidiaries. In addition, the Company disclosed that as of April 3, 2007, the amount outstanding under the Loan Agreement was approximately $5 million. Amounts outstanding fluctuate daily based on shipments and collections.
Larry Ellis, President and CEO of DHB Industries commented, “We are pleased to have closed on this new credit facility with LaSalle. Over the past year, our financial position has significantly improved and we continue to gain efficiencies in our operating processes and capital structure. With the added stability from this facility and cash generated from operations, we have the platform to drive business strategies and improve on our market leading position. We will continue to explore avenues that enhance shareholder value.”
DHB Industries Inc's highly recognized subsidiaries, Point Blank Body Armor Inc and Protective Apparel Corporation of America (PACA) are in the protective body armor industry and are focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the U.S. and worldwide.
Company subsidiary NDL Products Inc produces and markets a comprehensive line of athletic supports and braces which are merchandised through national superstore chains, as well as through private label distributors.
The Company maintains facilities in Deerfield Beach, FL, Oakland Park, FL, Pompano Beach, FL, Jacksboro, TN and Washington, DC.
The Loan Agreement provides a three-year $35 million secured revolving credit facility available to the Company's subsidiaries. In addition, the Company disclosed that as of April 3, 2007, the amount outstanding under the Loan Agreement was approximately $5 million. Amounts outstanding fluctuate daily based on shipments and collections.
Larry Ellis, President and CEO of DHB Industries commented, “We are pleased to have closed on this new credit facility with LaSalle. Over the past year, our financial position has significantly improved and we continue to gain efficiencies in our operating processes and capital structure. With the added stability from this facility and cash generated from operations, we have the platform to drive business strategies and improve on our market leading position. We will continue to explore avenues that enhance shareholder value.”
DHB Industries Inc's highly recognized subsidiaries, Point Blank Body Armor Inc and Protective Apparel Corporation of America (PACA) are in the protective body armor industry and are focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the U.S. and worldwide.
Company subsidiary NDL Products Inc produces and markets a comprehensive line of athletic supports and braces which are merchandised through national superstore chains, as well as through private label distributors.
The Company maintains facilities in Deerfield Beach, FL, Oakland Park, FL, Pompano Beach, FL, Jacksboro, TN and Washington, DC.
DHB Industries Inc
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