March 31, 2003
APPLIED EXTRUSION TECHNOLOGIES, INC. ANNOUNCES SYNDICATION OF CREDIT FACILITY
NEW CASTLE, Del.--(BUSINESS WIRE)--March 31, 2003--Applied Extrusion Technologies, Inc. (NASDAQ: AETC) announced today that it had fully syndicated its $50 million credit facility. This facility is subject to certain borrowing base and other restrictions, as previously reported in our Form 8-K filing on January 21, 2003.
Applied Extrusion Technologies, Inc. is a leading North American developer and manufacturer of specialized oriented polypropylene (OPP) films used primarily in consumer products labeling and flexible packaging applications.
Except for the historical information contained herein, the matters discussed in this report are forward-looking statements that involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including those risks related to the ability to implement a price increase and related volume losses, the timely development and acceptance of new products, fluctuations in raw materials and other production costs, the ability to satisfy our debt service requirements, the loss of one or more significant customers, the impact of competitive products and pricing, the timely completion of capital projects, the success of the Company's efforts to access capital markets on satisfactory terms, and to acquire, integrate, and operate new businesses and expand into new markets, as well as other risks detailed in Exhibit 99.1 of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2002 and from time to time in the Company's other reports filed with the Securities and Exchange Commission.
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For more information contact:
Brian P. Crescenzo, Applied Extrusion Technologies, Inc.
Phone: 302-326-5648
SOURCE: Applied Extrusion Technologies, Inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Applied Extrusion Technologies' business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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