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AS 9100 is an ISO 9001 based set of standards that addresses the stringent quality requirements of the aerospace industry, from commercial aviation to defense. Certification against AS 9100 standard requirements can be applied to virtually any area of the aerospace industry throughout the entire supply chain. It covers areas such as design and manufacture of equipment, aircraft accessory supply, replacement parts, supply and maintenance, overhaul and repair services.
SGS Canada certified both SE Techno Plus and Raymor Aerospace's Thermal Spray Coating division to the AS 9100 standards. SGS is the world's leading inspection, verification, testing and certification company. With more than 48,000 employees, SGS operates a network of over 1,000 offices and laboratories in 75 countries around the world.
Stephane Robert, President and CEO of Raymor Industries, had the following to say:
"With the accreditation of these two divisions, Raymor Aerospace has crossed another important phase in its plan to offer a one-stop-shop to its aerospace and industrial customers. Raymor Aerospace's customers are demanding more and more that their coating manufacturers include service of precision grinding."
Raymor Industries also announces that it has entered into a Term Sheet with an asset-backed lender to establish the necessary credit facilities to support its operations. The proposed facility, currently being negotiated, will replace most banking arrangements required for Raymor's operations, in particular those of Raymor Industries Inc. and SE Techno Plus. In addition, the company's subsidiary, S.E. Techno Plus Inc. has entered into a stand-still agreement with its Bank whereby S.E. Techno Plus and its Bank will collaborate in a restructuring of the business in order to ensure its continued viability. The Bank has accepted to tolerate a default to the existing credit facility and the company has worked with the bank on reducing the term loan balance from 1.8 M$ to 1.3 M$. With respect to Raymor Industries inc., its principal financial institution has also agreed to the proposed replacement of the existing credit facility, by way of the offer from the asset-backed lender, the whole subject to certain conditions. In light of this it is also proposing a stand-still agreement with respect to outstanding defaults to existing credit facilities.
Furthermore, Raymor Industries Inc. is confirming having closed its private placement at $819,200 for a total of 4,551,111 units instead of $1,021,200 as previously announced on November 3rd 2008. Conditions attached to this private placement have remained unchanged.
About Raymor Industries
RAYMOR INDUSTRIES INC. (TSX VENTURE: RAR | Quote | Chart | News | PowerRating) has as its mission to become a leading developer of high technology for the production of single-walled carbon nanotubes, nanomaterials and other advanced materials for high value-added applications. Raymor Industries operates three wholly-owned, industrial subsidiaries, Raymor Nanotech, Raymor Aerospace and AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four divisions: (1) nanotechnology products, including nano-powders, nano-coatings, and single-walled carbon nanotubes (C-SWNT) for "the applications of tomorrow"; (2) thermal spray coatings, which largely targets military, aeronautical, aerospace, specialized industrial, and mining applications; (3) spherical metallic powders, primarily used for biomedical and aerospace applications; and (4) net-shape forming, a component manufacturing technique used for ballistic protection and other aerospace and military applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephane Robert, President.
FOR MORE INFORMATION ON RAYMOR INDUSTRIES, A NANOTECH 100 COMPANY, PLEASE VISIT: http://www.raymor.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
Contacts: Raymor Industries Inc. Investor Relations: 450-434-1004 ext. 444 1-877-734-1004 450-434-1300 (FAX) investor@raymor.com Raymor Industries Inc. Media Relations: media@raymor.com www.raymor.com
SOURCE: RAYMOR INDUSTRIES INC.
mailto:investor@raymor.com mailto:media@raymor.com http://www.raymor.com
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