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CD International Enterprises To Utilize Two Recently Executed Trade Financing Agreements Providing For Up To $2.8 Million In Credit Availability To Expand Magnesium And Commodities Distribution Businesses
DEERFIELD BEACH, Fla.,
Dec. 4, 2012 /PRNewswire/ -- CD International Enterprises, Inc. ("CD International") (OTCQB:CDII), a U.S. based company that produces, sources, and distributes industrial commodities in
China and the Americas and provides business and financial corporate consulting services, today announced it intends to utilize two recently executed trade agreements providing for up to a total of
$2.8 million in receivable and inventory based financing to expand its ongoing magnesium and commodities distribution businesses.
CD International is using one receivable financing facility of up to
$2 million executed in October, 2012 between its International Magnesium Group ("IMG") subsidiary and a finance organization based in
Germany, to help leverage receivables from its International Magnesium Group's global sales efforts. The second purchase order credit facility of up to
$800,000 executed in November, 2012 with a privately held financing organization based in
Washington, D.C., will be used in support of its commodities distribution business in South America. CD International has successfully drawn down on both financing facilities and management believes this available credit will help its operations opportunistically grow sales by leveraging its receivables and inventories.
Commenting on the announcement, Dr.
James Wang, Chairman and CEO of CD International, stated, "We are pleased to have secured these credit facilities for our magnesium and commodities distribution businesses. We believe that having this greater financial flexibility will help us to be more opportunistic in our sales efforts enabling us to accelerate our overall growth in these areas. The ability to leverage our cash is critical for us especially in
South America as we seek to rapidly grow our operations."
About CD International Enterprises, Inc.
CD International Enterprises, Inc. (OTCQB: CDII), is a U.S. based company that produces, sources, and distributes industrial commodities in
China and the Americas and provides business and financial corporate consulting services. Headquartered in
Deerfield Beach, Florida with corporate offices in
Shanghai, CD International's unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about CD International, please visit