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Standard Products Announces $225 Million Credit Agreement

29 September 1997

Standard Products Announces $225 Million Credit Agreement

    DEARBORN, Mich., Sept. 29 -- The Standard Products Co.
announced the signing of a $225,000,000 revolving credit agreement
with a syndicate of seven banks.  The agreement is led by National City Bank
and also includes Comerica Bank, First Chicago NBD Bank, KeyBank N. A., The
Bank of New York, Harris Trust and Savings Bank and BankBoston, N.A.
    The new credit agreement, which replaces a $125,000,000 agreement that was
to mature in January 1999, has a five-year term with an extension provision.
The new agreement also provides improved pricing terms compared with the
earlier facility.
    Ronald L. Roudebush, vice chairman and chief executive officer, said, "We
are pleased with the increased confidence our banks have placed in us, as
reflected in this new credit agreement.  This agreement enhances Standard
Products' ability to invest in our business as well as pursue strategic
acquisitions."
    Standard Products manufactures sealing, trim and vibration control systems
for the automotive original equipment industry at plants in North America,
South America and Europe, and its NISCO joint venture manufactures automotive
sealing systems in the United States.  The Company's Holm Industries
subsidiary produces seals for home and commercial refrigerators and freezers
and for residential doors and windows.  Its Oliver Rubber subsidiary
manufactures tread rubber and equipment for the retread industry.

SOURCE  Standard Products Co.