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Baldwin Completes Oxy-Dry Acquisition And Announces New Credit Agreement

Monday, November 27, 2006

Press release from the issuing company

Shelton, CT, -- Baldwin Technology Company, Inc., a global leader in accessories and controls technology for the printing industry, announced today that it has completed the acquisition of the Oxy-Dry group of companies at a purchase price of approximately $18 million in cash, subject to adjustments. Concurrently, Baldwin has signed an agreement with LaSalle Bank whereby LaSalle has agreed to extend to the company credit facilities totaling $50 million. Under these credit facilities, the company has borrowed $35 million to replace its previous credit facility with Maple Bank GmbH and to finance the acquisition. Baldwin Chairman and CEO Gerald A. Nathe said, "We are pleased with the successful conclusion of this acquisition and are looking forward to the additional support, service and product offerings that the combined, integrated companies will allow us to offer our customers. We are also pleased to have arranged a new credit facility with LaSalle Bank."

 

 

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