TORONTO, Nov. 5, 2014 /CNW Telbec/ - GE Capital Canada
announced today that it has provided an $8.8
million senior secured credit facility to DBG Canada Ltd.,
commonly known as DBG Metal Manufacturing, a leading manufacturer
of heavy duty truck parts. DBG will use the proceeds to refinance
an existing term loan and for working capital.
Founded in 1978 and headquartered in Mississauga, ON, DBG is a global industry
leader in the design and manufacture of metal stampings, modular
welded, structural welded and mechanical assemblies for truck
manufacturers including Navistar International Corp. DBG also
provides design, tooling and manufacturing services to companies in
the automotive, military and agriculture industries. It has more
than 900 associates working in six facilities in Canada and Mexico.
"Through increased flexibility and liquidity, this credit
facility will be very helpful as we execute our strategic growth
plan," said Michael De Biasi,
president and CEO of DBG. "We appreciate working with a lender that
has deep expertise in the metals and manufacturing sectors and the
ability to support us in Canada
and in other countries where we do business."
"We're pleased to support DBG's growth plans," said Alain Dupont, senior vice president, corporate
finance, GE Capital Canada. "The manufacturing sector is a critical
one for Canada and is a major area
of focus for GE Capital."
About GE Capital, Canada
With 19 offices throughout
Canada, GE Capital
(www.gecapital.ca) offers a wide variety of financial products and
services to address commercial financing and fleet management needs
in many phases of a business' lifecycle. From equipment finance to
working capital and growth financing to large asset-based and
restructuring loans, we apply our 30 years of experience in the
Canadian market and wealth of industry expertise to develop custom
solutions for your company. Some of the industries in which we
specialize include transportation, construction, manufacturing,
aerospace, automotive, mining, energy, wholesale, retail, and
restaurant and hotel franchise financing.
GE Capital offers consumers and businesses around the globe an
array of financial products and services. For more information,
visit www.gecapital.com or follow company news via Twitter
(@GECapital).
GE (NYSE: GE) works on things that matter. The best people and
the best technologies taking on the toughest challenges. Finding
solutions in energy, health and home, transportation and finance.
Building, powering, moving and curing the world. Not just
imagining. Doing. GE works. For more information, visit the
company's website at www.ge.com.
SOURCE GE Capital, Commercial Distribution Finance