Werner repays some term debt; warns of possible covenant violations

By Sara Rosenberg

New York, March 13 - Werner Holding Co. announced Monday that it repaid some of its first-lien term loan debt using $9.2 million in net proceeds from the sale of its Extruded Products division, according to an 8-K filed with the Securities and Exchange Commission.

In addition, the company warned in its 10-Q filed Monday that it may need to seek additional amendments this year to the debt covenants under its loans if operating performance continues to be negatively impacted by higher commodity material and freight costs, a less profitable product mix and initiatives to accelerate its restructuring activities.

Werner is a Greenville, Pa.-based manufacturer and marketer of ladders and other climbing products.

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