|
Press Information:
Toronto - September 8, 2005
ACCORD FINANCIAL CORP.
Accord Announces Consolidation of
Montreal Operations
Accord Financial Corp. (TSX – ACD) advises today
that it will be consolidating its Montreal factoring
and asset-based lending operations into one office.
As a result there will be staff and facility reductions.
In this regard, Accord is expected to incur expenses
in the third and fourth quarter totalling approximately
$1.0 million. Going forward, Accord expects annual cost
savings of approximately $0.7 million as a result of
this consolidation. There will be no reduction in service
to its clients.
Accord is a leading North American provider of a wide
range of factoring and other asset-based financial services
to businesses, including financing, collection services,
credit investigation, credit protection and guarantees.
For further information please contact:
Stuart Adair
Chief Financial Officer
Accord Financial Corp.
77 Bloor Street West, 18th floor
Toronto, ON M5S 1M2
(416) 961-0304 Ext. 207
info@accordfinancial.com
Return to Archive landing page
|
