Shawcor Ltd. closed on the previously announced credit facility with Toronto-Dominion Bank and National Bank Financial as co-lead arrangers and HSBC Bank Canada, JPMorgan Chase Bank and Export Development Bank as lenders. The Credit Facility provides for a US$300 million, four-year senior secured revolving facility.

“We remain focused on strengthening our balance sheet to provide the financial flexibility required to effectively manage our business,” said Mike Reeves, Shawcor’s President and CEO. “The combination of our recently executed bond placement and the new revolving bank facility positions Shawcor to further accelerate the profitable growth of our high value, materials technology based businesses both organically and with opportunistic acquisitions.”

Shawcor Ltd. is a growth-oriented, global material sciences company serving the Infrastructure, Energy, and Transportation markets. The Company operates through a network of fixed and mobile manufacturing and service facilities. Its three business segments, Composite Systems, Automotive & Industrial and Pipeline & Pipe Services enable responsible renewal and enhancement of critical infrastructure while lowering risk and environmental impact.