FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange act of 1934
For the month of June 2003
Commission File No. 333-9410
Marsulex Inc.
111 Gordon Baker Road, Suite 300
North York, ON
M2H 3R1
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F:
Form 20-F X Form 40-F _______
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Indicate whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes __________ No X
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MARSULEX LOGO OMITTED
NEWS RELEASE
MARSULEX ARRANGES $40 MILLION FINANCING FOR ENVIRONMENTAL
COMPLIANCE FACILITIES AT SYNCRUDE UPGRADER EXPANSION PROJECT
Toronto, June 6, 2003 - Marsulex Inc. (TSX: MLX) announced today that it has
arranged $40 million in long term financing. This financing will be used to
fund a significant portion of the construction of its environmental compliance
facilities at the Upgrader Expansion project at Syncrude's Mildred Lakes oil
sands facility in Alberta. The interest rate on the loan is fixed at 7.3% per
annum through both the construction period and the initial 15-year term of the
Syncrude agreement. Interest only will be paid through construction and
repayment made over the next 15 years. This financing will reimburse Marsulex
for a portion of amounts expended in the project to date plus amounts required
to complete the construction of the project.
The loan, which has been made to a wholly owned subsidiary of Marsulex, will
be secured by the subsidiary's assets in the project. Marsulex is providing a
general secured guarantee during construction of the facilities, and upon
startup, the guarantee will be released and the loan secured against the
assets of the subsidiary only.
Marsulex designed the compliance facilities at the Upgrader Expansion project
and will own and operate a portion of them after completion. The facilities
will incorporate the Company's proprietary ammonium sulphate scrubbing
technology, using internally generated waste ammonia to scrub air emissions.
The loan was structured and advanced by First Treasury, a member of the
Integrated Asset Management group of companies (www.iamgroup.ca).
Marsulex, which is based in Toronto, Ontario, is a global provider of
outsourced environmental compliance solutions. The company's services
encompass the complete outsourcing of environmental compliance activities
including the ownership and operation of compliance assets. Website:
www.marsulex.com.
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For further information:
David M. Gee or Laurie Tugman
President and CEO Executive Vice President & CFO
Tel: (416) 496-4178 Tel: (416) 496-4157
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
MARSULEX INC.
June 6, 2003 By: /s/ Lucio Milanovich
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Lucio Milanovich
Director, Finance