Navigation Links
Lakeland Industries, Inc. Announces Completion of Line of Credit with HSBC UK

RONKONKOMA, N.Y., Feb. 25, 2013 /PRNewswire/ -- Lakeland Industries, Inc. (the "Company") (NASDAQ: LAKE), a leading global manufacturer of industrial protective clothing for industry, municipalities, healthcare and to first responders on the federal, state and local levels, today announced that its UK subsidiary has closed with HSBC Invoice Finance (UK), Ltd ("HIF"), a £1,000,000 (approximately USD $1,500,000) Accounts Receivable Financing. The use of proceeds is for working capital. The terms allow for borrowing of up to 80% of eligible accounts receivable as defined.


The interest rate charged will be 3.46% over HSBC Bank plc base rate which generally will be 30 day LIBOR.

About Lakeland Industries, Inc.:

Lakeland Industries, Inc. (NASDAQ: LAKE) manufactures and sells a comprehensive line of safety garments and accessories for the industrial protective clothing market.  The Company's products are sold by a direct sales force and through independent sales representatives to a network of over 1,200 safety and mill supply distributors. These distributors in turn supply end user industrial customers such as chemical/petrochemical, automobile, steel, glass, construction, smelting, janitorial, pharmaceutical and high technology electronics manufacturers, as well as hospitals and laboratories. In addition, Lakeland supplies federal, state, and local government agencies, fire and police departments, airport crash rescue units, the Department of Defense, the Centers for Disease Control and Prevention, and many other federal and state agencies.  For more information concerning Lakeland, please visit the Company online at

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:  Forward-looking statements involve risks, uncertainties and assumptions as described from time to time in Press Releases and 8-K(s), registration statements, annual reports and other periodic reports and filings filed with the Securities and Exchange Commission or made by management.  All statements, other than statements of historical facts, which address Lakeland's expectations of sources or uses for capital or which express the Company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements.  As a result, there can be no assurance that Lakeland's future results will not be materially different from those described herein as "believed," "projected," "planned," "intended," "anticipated," "estimated" or "expected," which words reflect the current view of the Company with respect to future events.  We caution readers that these forward-looking statements speak only as of the date hereof.  The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events conditions or circumstances on which such statement is based.

SOURCE Lakeland Industries, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Fero Industries, Inc. Issues Corporate Update
2. Sun Pharmaceutical Industries, Inc. Issues Nationwide Voluntary Recall of One Lot of Nimodipine Capsules due to Crystallization of the Fill Material
3. Lower Operating Expense Augments Digital X-rays Uptake Across Industries, Finds Frost & Sullivan
4. Amendia, Inc. and Medline Industries, Inc. Announce Investment and Strategic Business Alliance
5. Innophos Holdings, Inc. Announces Annual Meeting
6. NewLink Genetics Announces Timing of Fourth Quarter and Year-End 2012 Financial Results Conference Call
7. Psychemedics Corporation Announces Record Revenues For 2012; Declares 66th Consecutive Quarterly Dividend
8. NxStage Announces CE Mark Approval, First Clinical Use of its Single Needle for Dialysis Patients
9. ShangPharma Corporation Announces Extraordinary General Meeting of Shareholders
10. DelMar Pharmaceuticals Announces $1.6 Million Closing in Private Placement
11. Royalty Pharma Announces Proposal To Acquire Elan
Post Your Comments:
(Date:11/26/2015)... -- Research and Markets ( ) has announced the ... to 2019 - Rise in Cardiac Disorders and Growing Awareness ... their offering. Boston scientific ... scientific and others. --> The market is ... Boston scientific and others. ...
(Date:11/26/2015)... , November 26, 2015 ... of the "2016 Future Horizons and ... Abuse Testing Market: Supplier Shares, Country Segment ... to their offering. --> ... "2016 Future Horizons and Growth Strategies ...
(Date:11/26/2015)... November 26, 2015 ... "Self Administration of High Viscosity Drugs" report ... has announced the addition of the "Self ... their offering. --> Research and Markets ... the "Self Administration of High Viscosity Drugs" ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... November 27, 2015 , ... According to an article ... Dental Association meeting in Washington D.C. revolved around the fact that proper dental care, ... The talk stressed the link between periodontal disease (more commonly referred to as gum ...
(Date:11/27/2015)... ... November 27, 2015 , ... ... convenient way to dispense prescription medications at home, so he invented the patent-pending ... monitor and dispense prescription medications. In doing so, it could help to prevent ...
(Date:11/27/2015)... , ... November 27, 2015 , ... MPWH, the No.1 Herpes-only dating community in the ... Table 1-1 ). More than 3.7 billion people under the age of 50 ... (HSV-1), according to WHO's first global estimates of HSV-1 infection . , "The data ...
(Date:11/27/2015)... ... 2015 , ... Keeping in mind challenges faced by parents ... consultation, has collaborated with a leading web-based marketplace for extra-curricular activities for children ... and bring advice from parenting experts within their reach. As a part of ...
(Date:11/27/2015)... ... November 27, 2015 , ... Indosoft Inc., ... the incorporation of Asterisk 11 LTS (Long Term Support) into its Q-Suite 5.10 ... brings Q-Suite 5.10 up-to-date with a version of Asterisk that will receive not ...
Breaking Medicine News(10 mins):