POMONA, Calif., Oct. 20, 2005 (PRIMEZONE) -- Keystone Automotive Industries, Inc. (Nasdaq:KEYS) today announced the company has established a $75 million secured credit facility agented by Wells Fargo Bank, NA with JP Morgan Chase Bank, NA participating. The credit agreement includes an option to extend the facility to $100 million. The new facility increases the aggregate commitment available for borrowing from a previous $40 million agreement and extends the maturity date to October 2010.
The company said the increased credit facility is available to be utilized for acquisitions, greenfields, working capital and general corporate purposes.
About Keystone
Keystone Automotive Industries, Inc. distributes its products primarily to collision repair shops through its 129 distribution facilities, of which 22 serve as regional hubs, located in 38 states and Canada. Its product lines consist of automotive body parts, bumpers, and remanufactured alloy wheels, as well as paint and other materials used in repairing a damaged vehicle. These products comprise more than 19,000 stock keeping units that are sold to more than 25,000 repair shops throughout the United States and Canada.