Signature closer to securing loan for growth

Dec 15, 2011 | 01:03 PM | Suzy Waite

Tags  Signature Aluminum Canada, Apolo Tool & Die Manufacturing, aluminum shapes, Ted Riddle, Sean Gormley, USW, asset-based loan, Suzy Waite

NEW YORK — Signature Aluminum Canada Inc. is close to securing a significant asset-based loan from a major Canadian bank to fund company growth, chief executive officer Ted Riddle told AMM.

He declined to provide details about the loan until the paperwork has been finalized—which he estimated should be completed in the next few weeks—but noted that the money will go to fund "dramatic" growth plans at the company’s fabrication operations, with a focus on the automotive sector.....

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