LAVAL, QC, Oct. 8 /CNW Telbec/ - Mercator Transport Group Corporation ("Mercator Transport") (TSX-V: GMT) is proud to announce agreements with both HSBC and Export Development Canada (EDC), concerning the conclusion of a new credit line to finance Mercator Transport's European activities.
Commenting on the announcement, Mr. Jean-Pierre Apélian, CEO, said: "Mercator Transport is very pleased to have EDC as one of its financial partners, as well as benefit from HSBC's international banking network. This credit facility will allow our Lyon subsidiary to become financially independent."
More particularly, Mercator Transport concluded a 500,000 euros (CAN$780,000) credit line with HSBC and guaranted by EDC. This credit line will be allocated to Mercator Transport's French subsidiary's working capital, to sustain its organic growth.
About Mercator Transport
Mercator Transport specializes in transport brokerage, international logistics and distribution. With offices in Montreal (Canada), Las Vegas (USA) and Lyon (France), Mercator Transport offers value-added services in global supply chain management, and designs tailor-made solutions. Customer intimacy and commitment differentiates Mercator Transport in its ability to implement customers' requirements.
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For further information: Mr. Patrick Bazinet, Interim CFO and Director, Investor relations, (450) 667-8886, investisseur@corpgmt.com
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