Exal Corporation
Youngstown, Ohio

Exal Corporation, located in Youngstown, Ohio, is part of an international group that manufactures extruded aluminum containers for a variety of industries. The Youngstown plant’s production capacity is nearly 400 million units annually. Growing demand necessitated a 170,000-square foot plant expansion.

The Challenge:

Preserve Exal’s credit for capital equipment purchases.

Benefits of Working with SCPA

SCPA’s fixed rate bonds have a low interest rate.
SCPA helped secure additional low-interest financing from state sources.

Project Cost: $10.2 million for building expansion
$30 million for capital equipment

Source Funds:
$3,000,000 - SCPA Bonds
$5,000,000 - ODOD Bonds
$2,000,000 - ODOD 166 Loan
$225,000 - Company Equity
$30,000,000 - Bank Financing
--------------
$ 40,225,000 - Total

Interest Rate: 
SCPA Fixed Rate Bonds: 5.75%
ODOD Enterprise Bonds: 5.40%
ODOD 166 Loan: 3.25%

The Summit County Port Authority provided a $3 million taxable development revenue bond issue. Additional funding was obtained through an Ohio Department of Development Bond and a 166 Loan. Exal Corporation arranged separate bank financing of approximately $30 million for equipment.

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