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Otto Environmental Systems North America, Inc.
12700 General Drive
Charlotte, North Carolina 28273
FOR IMMEDIATE RELEASE
Otto Moves Forward After Refinance Completion
Charlotte, N.C., June 21, 2016 ̶ Otto is proud to report our refinancing effort has been completed. Otto
spent the last eighteen very difficult months going through an operational turn-around. Our plants needed
extensive refurbishment in order to handle increased sales volumes. During this period Otto invested over
eighteen million dollars into our infrastructure. To assist our continued growth, Otto elected to raise outside
capital. We considered several options including investments from strategic investors and PE firms to
finance our balance sheet. After a long review of the various options, we are proud to report our current
Canadian lender has agreed to expand our existing credit facility. The restructuring will result in a stronger
balance sheet and liquidity for our company.
Looking forward with new molds and machines in place, Otto is poised to increase production by 20
percent. Future investment is geared towards operational systems that increase production efficiencies,
cloud-based technologies that improve field-to-desktop fleet monitoring within Otto’s logistics portal, and
R&D activities to expand on existing product lines, RFID projects, and market segments.
Through our people, Otto is committed to nurturing its long-standing relationships as well as cultivating
new relationships during its journey forward. The investment in infrastructure is part of Otto’s promise to
serve customers, suppliers and overall network with additional capacity, shorter lead times, improved
customer service, and better overall communication. Otto will continue to provide superior products and
services to the waste industry well into the future.
About Otto Environmental Systems North America, Inc. (OESNA): Otto Environmental Systems North
America, Inc. (OESNA) is a manufacturer of waste containers for residential, commercial and retail
markets. OESNA also has a container service division that provides residential waste container logistics,
distribution, servicing and repairing, as well as a custom molding division that offers product design and
manufacturing for automotive, consumer goods, and material handling sectors. Otto containers are the
most widely used brand of residential carts in the world. The original Otto Group was founded in 1934 and
now has more than 100,000,000 carts in service around the globe.
For more information about Otto Environmental Systems North America, visit www.otto-usa.com.
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Press Contact:
Kristen Riggs
Marketing Manager
704-583-5212
[email protected]