- CEMATRIX (CVX) has entered into a new credit facility that provides for a $5 million secured revolving operating line with CIBC
- This new credit facility will be used for working capital purposes
- CEMATRIX manufactures and supplies technologically advanced cellular concrete products across North America
- CEMATRIX Corporation (CVX) opened trading at C$0.275 per share
CEMATRIX (CVX) has entered into a new credit facility that provides for a $5 million secured revolving operating line with CIBC.
“We are very pleased to partner with CIBC. CIBC is a leading North American financial institution with banking operations in both Canada and the USA to help support CEMATRIX. Our new credit facility strengthens our financial foundation and flexibility,” said Randy Boomhour, CFO at CEMATRIX.
“This new credit facility will be used for working capital purposes to help enable CEMATRIX to continue to grow its sales throughout North America.”
“CEMATRIX continues to generate revenue throughout Canada and the U.S. CEMATRIX continues to grow its sales pipeline and backlog during a very difficult COVID affected construction market,” said Jeff Kendrick, CEO at CEMATRIX.
“This new credit facility and banking arrangement with the CIBC is an important milestone that reflects these achievements and provides CEMATRIX with additional financial backing as the market returns to pre-COVID level market conditions and the company considers other growth opportunities.”
CEMATRIX manufactures and supplies technologically advanced cellular concrete products across North America. This cement-based material delivers cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets.
Following several recent acquisitions, CEMATRIX is now North America’s largest cellular concrete company.
CEMATRIX Corporation (CVX) opened trading at C$0.275 per share.
