Neways in Active and Constructive Discussion With Its Lenders to Refinance Capital Structure

SPRINGVILLE, Utah, Nov. 18, 2011 /PRNewswire/ -- Neways Enterprises ("the Company"), a world-wide leader in dietary supplements and personal care products, confirmed today that it is in negotiations with its lenders to refinance the Company's capital structure.  These negotiations have no effect on the day-to-day operations of the Company and it remains business as usual.

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"For the last several months Neways has been actively engaged in constructive discussions with our lenders to negotiate a restructuring that will strengthen the Company's balance sheet and position Neways for long-term growth and success," said Neways Chief Executive Officer Scott St. Clair.  "While the current finance arrangements have matured, no lender is moving to exercise their rights – instead, we are working in a consensual fashion to finalize the refinancing."  

"Throughout this process our distributors can continue to order products, receive shipments, and get paid their commissions as they always have," continued Mr. St. Clair.  "Our manufacturing and support facilities and all of our offices around the world continue as normal.  Our business remains profitable, the revenue stream is healthy and we are operating at some of our highest efficiency levels since the Company's start nearly 25 years ago."

The Company noted that negotiations are ongoing and Neways will work to reach mutually agreeable terms as quickly as possible.

About Neways

Neways is dedicated to helping families transform their homes into Healthy Homes. With over 200 safe, effective nutritional and personal care products that are free of more than 3,000 questionable ingredients, the company has strived for almost 25 years to make the world a healthier place, one home at a time.

In addition to providing exclusive products, Neways enhances people's lives with a home-based business opportunity. Several hundred thousand active Neways distributors share the products in 28 countries, with one-half of the company's annual product revenues paid back to distributors as commissions.

SOURCE Neways