Rand Capital SBIC, Inc., Advantage Capital Partners, Environmental Liability Transfer And Frank Cordie Combine To Create Missouri-Based Mid America Brick
BUFFALO, N.Y., June 7, 2010 (GLOBE NEWSWIRE) -- Mid America Brick President and CEO Frank Cordie announced the completion of financing that will be used to re-open the former A.P. Green brick plant in Mexico, Missouri. Mid America Brick will re-commission and operate from the former facility on the 100 th anniversary of its 1910 founding.
A.P. Green Refractories was once among the largest fire brick manufacturers in the world. Mid America Brick will produce face brick for residential and commercial construction at the manufacturing plant. When fully operational, Mid America Brick will create up to 80 new jobs and initially produce over 60 million bricks per year.
Advantage Capital Partners of St. Louis provided leadership in assembling the debt financing. Environmental Liability Transfer contributed the 500,000 square foot manufacturing facility and 100 acre site, and Rand Capital provided leadership in the equity funding.Mr. Cordie also noted, "Mid America Brick has assembled an outstanding team of brick industry veterans with over 200 years of experience to operate what will be Missouri's largest face brick plant. This team and our central location will enable us to produce quality products and distribute them cost-effectively throughout the Midwestern United States. To further enhance these competitive advantages, Mid America Brick will provide superior customer service." Mr. Cordie expects to begin production by the spring of 2011. "We are thrilled to join our partners and management team to create Mid America Brick. When completed, this will be the largest and newest brick plant in the region," stated Allen F. Grum, President of Rand Capital. ABOUT RAND CAPITAL Rand Capital ( Nasdaq :RAND) is a publicly held Business Development Company (BDC), and its wholly owned subsidiary is licensed by the Small Business Administration (SBA) as a Small Business Investment Company (SBIC). Rand and its subsidiary provide capital and managerial expertise to small and medium sized private companies primarily located in the Northeast U.S. Rand is traded on the NASDAQ under the symbol "RAND". Rand is headquartered in Buffalo, NY. www.randcapital.com
CONTACT: Rand Capital Corporation Investor Contact: Allen F. Grum, President 716.853.0802 firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV