Amcast Refinances Casting Technology Company

Amcast Industrial Corporation has announced that its wholly-owned Casting Technology Company signed a credit agreement with The Provident Bank. This agreement provides for a three-year revolving line of credit of up to 5 million dollars and a five-year term loan of 3 million dollars.
Joseph R. Grewe, President and CEO of Amcast, said, “We are extremely pleased with this new credit facility for CTC. This demonstrates the confidence that The Provident Bank has in CTC’s continuing improved performance. CTC has implemented a number of initiatives under the Amcast Production System which has resulted in improved quality and delivery to our customers as well as improved profitability for our shareholders. We look forward to a lasting relationship with Provident.”