October 21, 2014 12:14 PM ET

Aerospace and Defense

Company Overview of Coltec Industries Inc.

Company Overview

Coltec Industries Inc. manufactures and sells aerospace and industrial products in the United States, Canada, and Europe. It engages in the manufacture of landing gear systems and aircraft flight controls the provision of overhaul services for these systems and controls for Canadian and other customers, and the manufacture of turbine components and turbine and compressor rotating parts primarily for aircraft gas turbine engines. It also offer seals, gasketing material, packings, and truck products; and marketing parts for Fairbanks Morse diesel engines and accessories, and other products for use in Canada and other countries. The company was formerly known as Colt Industries Inc. and changed...

3 Coliseum Centre

2550 West Tyvola Road

Charlotte, NC 28217

United States

Founded in 1911

Phone:

704-423-7000

Fax:

704-423-7097

Key Executives for Coltec Industries Inc.

President
Age: 72
Senior Vice President - Group Operations and President - Fairbanks Morse Engine Division
Age: 77
Executive Vice President - Administration
Age: 70
Vice President and Controller
Age: 62
Compensation as of Fiscal Year 2014.

Coltec Industries Inc. Key Developments

EnPro Industries, Inc. and Coltec Industries Inc. Enter Amended and Restated Credit Agreement

On August 28, 2014, EnPro Industries, Inc. entered into an amended and restated credit agreement dated as of August 28, 2014 among the company and Coltec Industries Inc, a wholly owned subsidiary of the company, as borrowers, the guarantors party thereto, the lenders party thereto and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. The amended credit agreement provides for a five-year, senior secured revolving credit facility of $300.0 million. The amended credit agreement became effective on August 28, 2014. Borrowing availability under the revolving credit facility is not limited by reference to a borrowing base. Initially, borrowings under the revolving credit facility bear interest at an annual rate of LIBOR plus 1.75% or base rate plus 0.75%, although the interest rates under the revolving credit facility are subject to incremental increases based on a consolidated total leverage ratio. In addition, a commitment fee accrues with respect to the unused amount of the revolving credit facility at an annual rate of 0.20%, which rate is also subject to incremental increases based on a consolidated total leverage ratio. The company and Coltec are the permitted borrowers under the revolving credit facility. Each of the company's domestic, consolidated subsidiaries (other than Garlock Sealing Technologies LLC, Garrison Litigation Management Group Ltd. and their respective subsidiaries, which includes The Anchor Packing Company, unless they elect to guarantee upon becoming consolidated subsidiaries in the future) are required to guarantee the obligations of the borrowers under the revolving credit facility, and each of the company's existing domestic, consolidated subsidiaries (which does not include the domestic entities of GST) has entered into the amended credit agreement to provide such a guarantee.

Coltec Industries Inc. Wins $4.24 Federal Contract

Coltec Industries Inc. announced that it has won a $4,241,903.08 federal contract from the U.S. Navy's Military Sealift Command, Norfolk, Virginia, for main engine parts.

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