August 28, 2014 12:59 PM ET


Company Overview of Park-Ohio Industries Inc.

Company Overview

Park-Ohio Industries, Inc. is engaged in industrial supply chain logistics and diversified manufacturing businesses. Its Supply Technologies segment provides Total Supply Management services, such as engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and technical support for supplying production parts and materials. This segment also offers production components, including valves, electro-mechanical hardware, fittings, steering components, and others; spare parts and aftermarket products; and precision cold formed and cold extruded product...

6065 Parkland Boulevard

Cleveland, OH 44124

United States

Founded in 1984





Key Executives for Park-Ohio Industries Inc.

Chairman and Chief Executive Officer
Age: 75
Age: 44
Chief Financial Officer
Age: 49
Age: 53
Compensation as of Fiscal Year 2014.

Park-Ohio Industries Inc. Key Developments

Park-Ohio Industries Inc. Enters into Sixth Amended and Restated Credit Agreement

Park-Ohio Industries Inc. (Industries) and certain of Industries' wholly owned direct and indirect subsidiaries entered into the Sixth Amended and Restated Credit Agreement with the other loan parties thereto, the lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian Agent, JP Morgan Europe Limited, as European Agent, RBS Business Capital, as Syndication Agent, KeyBank National Association and First National Bank of Pennsylvania, as Co-Documentation Agents, U.S. Bank National Association, as Co-Documentation Agent and Joint Bookrunner, PNC Bank, National Association, as Joint Bookrunner, and J.P. Morgan Securities Inc., as Sole Lead Arranger and Bookrunning Manager. The Credit Agreement, among other things, provides for a revolving credit facility of up to $230 million (which may be increased up to $280 million subject to Industries obtaining commitments for such increase) and a term loan facility of $16.1 million. The revolving credit facility includes a Canadian sub-limit in the amount of $15.0 million and a European sub-limit in the amount of $10 million (which may be increased to $25.0 million) for borrowing in those locations. Borrowings under the Credit Agreement mature on July 31, 2019. Borrowings under the term loan facility bear interest, at the option of Industries, at an annual rate equal to LIBOR plus a margin ranging from 2.0% to 3.0% or the bank's prime lending rate plus 0.25% to -0.75%. Domestic borrowings under the revolving credit facility bear interest, at the option of Industries, at an annual rate equal to LIBOR plus a margin ranging from 1.50% to 2.50% or the prime rate plus a margin ranging from -0.25% to -1.25%.

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