PHILADELPHIA, Jan. 30 /PRNewswire-FirstCall/ -- Crown Cork & Seal Company,
Inc. (NYSE: CCK) announced that it has secured an agreement from its lenders
to extend $225 million of its $400 million term loan, originally due
February 4, 2002 to August 4, 2002.
Alan W. Rutherford, Vice Chairman and Chief Financial Officer commented,
"The Company is expecting improving fundamentals in the packaging sector in
2002 and the extension of a portion of the term loan will provide additional
flexibility to finance the working capital requirements during the season."
Crown Cork & Seal is a leading supplier of packaging products to consumer
marketing companies around the world. World headquarters are located in
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SOURCE Crown Cork & Seal Company, Inc.
Web site: http: //www.crowncork.com
CONTACT: Timothy J. Donahue, Senior Vice President - Finance of Crown Cork & Seal, +1-215-698-5100, or Ed Bisno of Edelman Financial, +1-212-704-8212, for Crown Cork & Seal