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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