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The company contributed $5.8 million to its qualified pension plan compared to $7.0 million in the first quarter of 2012. Total pension contribution obligation for 2013 is expected to be $24.8 million compared to $20.7 million obligation for 2012.
On March 31, 2013, the company entered into the fourth and final year of its credit facility, which moves $43 million of debt to be classified as current on the balance sheet. The company is renegotiating with banking partners and confident of renewing its credit facility on comparable terms later in 2013 or early 2014.
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- People:
- Joseph P. Morgan
- Places:
- Dayton, Ohio
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