Pioneer Announces the One-Year Extension of Its Revolving Credit Facility
21 Décembre 2006 - 10:22PM
PR Newswire (US)
HOUSTON, Dec. 21 /PRNewswire-FirstCall/ -- Pioneer Companies, Inc.
(NASDAQ:PONR) announced that it has amended its $30 million
revolving credit facility to extend the maturity date by one year.
The new maturity date will be December 31, 2007. Gary L. Pittman,
Pioneer's Senior Vice President and Chief Financial Officer stated,
"We are pleased that our lender has agreed to extend our revolving
credit facility for an additional year. This will give us
additional flexibility as we review our optimum capital structure
and future capital needs." Pioneer, based in Houston, manufactures
chlorine, caustic soda, bleach, hydrochloric acid and related
products used in a variety of applications, including water
treatment, plastics, pulp and paper, detergents, agricultural
chemicals, pharmaceuticals and medical disinfectants. Pioneer owns
and operates four chlor-alkali plants and other downstream
manufacturing facilities in the United States and Canada. Certain
statements in this news release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act.
Forward- looking statements relate to matters that are not
historical facts. Such statements involve risks and uncertainties,
including, but not limited to, the risks and uncertainties
described in Pioneer's filings with the Securities and Exchange
Commission. Actual outcomes may vary materially from those
indicated by the forward-looking statements. DATASOURCE: Pioneer
Companies, Inc. CONTACT: Gary Pittman of Pioneer Companies, Inc.,
+1-713-570-3200
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