Business News

Baldwin Signs Amendment to Credit Agreement

Monday 03. August 2009 - Baldwin Technology Company, Inc. (NYSE Amex: BLD), a leader in process automation technology for the global printing industry, announced today that it has successfully concluded an amendment to its credit agreement.

Baldwin Vice President and CFO John P. Jordan said, “Completion of this amendment is testimony to the confidence that our banking partners have in our ability to execute the initiatives and programs we put in place to counter the effect of the global economic contraction.

“This amendment establishes realistic covenant targets based on the sales, operating results and cash flow forecasts that the Company expects to achieve in its Fiscal Year 2010 Annual Operating Plan (AOP). The agreement also establishes a reporting framework with the banks for the Company to regularly communicate its achievement of AOP and covenant targets.

“We are very pleased to have reached an agreement that provides the Company with the necessary liquidity to implement our plans and execute on our strategic goals, and we appreciate the diligent efforts of our banking partners to collaborate on the agreement.”

The Company also noted that it intends to file a Report on Form 8-K with the Securities and Exchange Commission regarding the amendment early next week.