NEW YORK Bri-Chem Corp.
has secured a Canadian $10-million ($10.1-million) credit
facility from Canadian private equity firm Fulcrum Capital
The Edmonton, Alberta-based
distributor and manufacturer of steel pipe and oil and gas
drilling fluids intends to use the net proceeds for potential
acquisitions, working capital and general corporate purposes,
"This credit facility will allow us to further strengthen
and increase our presence in the North America drilling fluids
marketplace and seek out new opportunities for additional steel
pipe manufacturing micro-mills," Bri-Chem chief executive
officer Don Caron said in a statement.