07:17 AM EDT, 06/28/2024 (MT Newswires) -- CEMATRIX ( CTXXF ) , a cellular concrete product manufacturer, on Thursday said it increased its credit facility with the Canadian Imperial Bank of Commerce to $8 million, up from the previous limit of $3 million.

The other terms of the credit facility, which hasn't yet be drawn upon, remain materially unchanged. The credit facility will be used to support growth and as short-term annual working capital during peak periods, the company said.

"This increase in our credit facility, coupled with our strong balance sheet, provides additional flexibility to support our growing business moving forward," said CEMATRIX ( CTXXF ) CEO Jeff Kendrick.