(OTTAWA) – August 11, 2009 - Export Development Canada (
) today announced that it has partnered with one of Woodbridge Foam Corporation's financial institutions to provide
40 million in financing for general corporate purposes.
“EDC's financing provides Woodbridge Foam and its financial institution with the necessary financial flexibility to maintain its existing credit levels, which is so important during this credit crunch,” said Stephen Poloz, Senior Vice-President, Financing Products Group.
EDC's efforts in the auto sector have been significant, having underwritten more than CAD 1.9 billion in business volume in the auto sector in the first half of 2009.
Woodbridge Foam is a subsidiary of the Woodbridge Group, which is a leader in automotive urethane technologies and a specialist in just-in-time assembly and sequencing systems. The Woodbridge Group operates 64 facilities in 21 countries, as the global leader in the development and production of polyurethane products. Automotive applications include components for seating, structural support, occupant protection, headliner systems and acoustical management, as well as a full range of value added services including engineering and design, supply chain management, assembly, sequencing and JIT delivery solutions. For more information, visit www.woodbridgegroup.com .
EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 8,300 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, is a recognized leader in financial reporting and economic analysis, and has been recognized as one of Canada's Top 100 Employers for eight consecutive years.
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Media contact:
Phil Taylor
Export Development Canada
Tel: (613) 598-2904
Blackberry: ptaylor@edc.ca
