NCI Building Systems
NCI Building Systems is a prime example of how reliable access to affordable credit is necessary in order for small and large companies to innovate and grow. NCI Building Systems relied on CLOs for affordable financing to survive and grow during the Great Recession. As a result, the company has continued to flourish, enabling it to contribute to the growth of the U.S. economy and create jobs. In Q3 of fiscal 2015, the business reported an increase in sales year over year of 16.4% and net income increased by 19%.
NCI’s CFO Norm Chambers had this to say about the importance of CLOs:
“We have weathered many challenges over the last two decades including this most recent recession, the worst in 50 years. CLOs have proven to be a valuable resource for our company because they provide commercial loans at affordable rates and have ultimately increased the availability of debt at a reasonable cost for businesses like ours American manufacturing companies investing in U.S. economic recovery.” (Norm Chambers, Memo to Regulators: Restricting CLOs Could Stifle Economy, “American Banker,” April 4, 2014)
NCI Building Systems, Inc. is one of North America’s largest integrated manufacturers of metal products for the nonresidential building industry. NCI is comprised of a family of companies operating manufacturing facilities across the United States and Mexico with additional sales and distribution offices throughout the United States and Canada. For more information visit www.ncibuildingsystems.com
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