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ERS credit limits expanded; company cites "current increasing business levels"


PRW: Empire Resources Expands Working Capital Credit Agreement To $275 Million

FORT LEE, N.J., Dec. 18, 2014 /PRNewswire/ -- Empire Resources, Inc.
(NASDAQ: ERS), a distributor of value-added, semi-finished metal products,
announced today that it has expanded its current working capital credit
agreement by $50 million to $275 million and amends the agreements that the
Company entered into in June 2014 with a consortium of banks, led by
Rabobank International as Lead Arranger and Administrative Agent and BNP
Paribas as Syndication Agent.
The amended credit agreement includes a committed credit facility, which has
been increased by $35 million to $185 million, and an uncommitted facility,
which has been increased by $15 million to $90 million. There are no
changes to the interest rate or to the maturity date of the committed
facility, which remains June 19, 2017.
Sandra Kahn, Vice President and CFO, commented, "We are pleased to have
secured this expanded working capital credit line from our world class bank
group, which supports the current increasing business levels and provides us
with additional liquidity for potential volume opportunities."
About Empire Resources, Inc.
Empire Resources, Inc. is a distributor of a wide range of semi-finished
metal products to customers in the transportation, automotive, housing,
appliance and packaging industries in the U.S., Canada, Latin America,
Australia, New Zealand and Europe. The Company maintains supply contracts
with mills in various parts of the world.
Forward-Looking Statements:
This press release contains "forward-looking statements." Such statements
may be preceded by the words "intends," "may," "will," "plans, " "expects,"
"anticipates," "projects," "predicts," "estimates," "aims," "believes,"
"hopes," "potential" or similar words. Forward-looking statements are not
guarantees of future performance, are based on certain assumptions and are
subject to various known and unknown risks and uncertainties, many of which
are beyond the Company's control, and cannot be predicted or quantified and
consequently, actual results may differ materially from those expressed or
implied by such forward-looking statements. Such risks and uncertainties
include, without limitation, risks and uncertainties associated with (i) the
loss or default of one or more suppliers; (ii) the loss or default of one or
more significant customers; (iii) a default by counterparties to derivative
financial instruments; (iv) changes in general, national or regional
economic conditions; (v) an act of war or terrorism that disrupts
international shipping; (vi) changes in laws, regulations and tariffs; (vii)
the imposition of anti-dumping duties on products the Company imports;
(viii) changes in the size and nature of the Company's competition; (ix)
changes in interest rates, foreign currencies or spot prices of aluminum;
(x) the loss of one or more key executives; (xi) increased credit risk from
customers; (xii) the Company's failure to grow internally or by acquisition
and (xiii) the Company's failure to improve operating margins and
efficiencies. More detailed information about the Company and the risk
factors that may affect the realization of forward-looking statements is set
forth in the Company's filings with the Securities and Exchange Commission
(SEC), including the Company's Annual Report on Form 10-K and its Quarterly
Reports on Form 10-Q. Investors and security holders are urged to read these
documents free of charge on the SEC's web site at http://www.sec.gov. The
Company assumes no obligation to publicly update or revise its
forward-looking statements as a result of new information, future events or
otherwise.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/empire-resources-expands-working-c
apital-credit-agreement-to-275-million-300012175.html

SOURCE Empire Resources, Inc.
/CONTACT: Investor Relations, Comm-Counsellors, LLC, Edward Nebb,
[phone], [e-mail], or June Filingeri, [phone],
[e-mail]; or Shareholders, David Kronfeld, [phone],
[e-mail]
/Web site: http://www.empireresources.com

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