Anchor Glass Container Corporation has secured a US$ 100 million revolving loan from Bank of America. The three-year financing, which replaces an existing revolving loan, provides significantly increa…
Anchor Glass Container Corporation has secured a US$ 100 million revolving loan from Bank of America. The three-year financing, which replaces an existing revolving loan, provides significantly increased liquidity. “This new financing establishes a long-term relationship with a banking partner,” said John J. Ghaznavi, chairman and chief executive officer. “The increased financial strength assures long-term, high-quality service to customers.” During the past year and a half Anchor has signed exclusive long-term agreements to supply large volumes of bottles to several major customers. Anchor Glass Container Corporation, the third-largest manufacturer of glass containers in the US, supplies beverage and food producers and consumer products manufacturers nationwide. Based in Tampa, Florida, Anchor operates plants at nine US locations. Its parent company, Consumers Packaging Inc. of Canada, designs and manufactures glass containers.