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Newell Rubbermaid gets boost in financing

BY HBSDEALER Staff

Atlanta-based Newell Rubbermaid announced a new five-year $800 million syndicated revolving credit facility. 

Michael Polk, president and CEO said: “This enhanced credit facility reflects our solid financial position and improved balance sheet, further bolstering our financial flexibility and demonstrating our continued ability to access capital at attractive terms.”

This facility replaces a $665 million syndicated revolving credit facility that was scheduled to mature in November 2012.

JPMorgan Chase Bank acted as Administrative Agent for the new facility. J.P. Morgan Securities, LLC, Barclays Capital, Citigroup Global Markets and RBC Capital Markets served as Joint Lead Arrangers and Joint Bookrunners.

 

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Castle Windows announces staff expansion

BY HBSDEALER Staff

Castle Windows, the Mt. Laurel, New Jersey-based seller and installer of doors and windows throughout the Northeast, has announced that plans to expand and increase staff by approximately 20%, all before January 15th.

“We have already expanded operations and have the need for added marketing and customer service personnel,” said CEO Chris Cardillo in a prepared statement. “We have also acquired the customer base from a large competitor of ours and so we need more employees to assure the same level of service.” 

Cardillo said he expects to bring on about 30 people, most of whom will be in south Jersey, with the rest spread throughout the New England and southern states. Castle Windows currently operates in New York, New Jersey, Pennsylvania, Delaware, Connecticut, Maryland, Massachusetts, Rhode Island, West Virginia, North Carolina, South Carolina and New Hampshire.

Castle Windows currently employs 175 employees and does about $55 million in annual revenue, which Cardillo estimates could grow to 300 people, with annual revenues of $100 million in six years.

 

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Member Insurance taps Johnson Controls for marketing exec

BY Brae Canlen

Mary-Jo Salzburg, the former director of marketing at Johnson Controls, has re-joined Member Insurance Agency as VP marketing.

Salzburg’s 15 years of marketing experience includes media strategy, database marketing, advertising, public relations and trade shows. Since 2008, she has been the marketing communications program manager for Johnson Controls, a Milwaukee-based provider of equipment, controls and services for heating, ventilating, air conditioning and refrigeration. The company also provides products for the automotive industry.

Prior to Johnson Controls, Salzburg held the position of director of marketing at Member Insurance. With her previous experience at Member Insurance she brings back her marketing expertise and knowledge of the insurer’s client base and niche business, the company said in an announcement. 

Member Insurance supplies insurance to independent hardware stores, lumber and building material dealers, nursery and garden centers, and rental centers, specializing in cooperatives and associations. 

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