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Buhler finalizes $20-million line of credit

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Buhler Industries Inc. has finalized a $20-million line of credit with the Export Development Canada to assist its sales growth of Versatile tractors to its overseas customers.

The Winnipeg-based farm implement manufacturer is the only Canadian manufacturer of tractors.

Since the majority interest in the company was purchased by Russian combine manufacturer Rostselmash Ltd. in 2007, exports of Buhler’s powerful Versatile tractors to eastern Europe have grown.

Buhler’s new EDC credit facility is in addition to the company’s $60-million line of credit with the Bank of Montreal and a $7.5-million line of credit has with CIBC.

Under the terms and conditions of the agreement, the company may take advantage of the credit facility and drawdown funds depending on its financial position.

The company has manufacturing facilities and warehouses in both Canada and the United States.

 

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