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Hardinge secures $100 million line of credit

By Associated Press
June 17, 2008 | Comments (0)

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Hardinge Inc. has negotiated a $100 million line of credit from JPMorgan Chase, the machine tools maker said Tuesday.

Hardinge said the credit line is in several currencies so it will have flexibility to invest in the countries where it does business. The company said two-thirds of its revenue comes from abroad.

The credit line will mature in 2011.

Hardinge shares dropped 31 cents, or 2 percent, to $12.85 in morning trading.

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