Merix Corporation Announces New Bank Credit Facility
May 13 2008 - 8:00AM
Marketwired
BEAVERTON, OR today announced that it has replaced its previous
revolving bank credit facility with a new $55 million revolving
facility that expires in February 2013.
The new $55 million Bank Credit Agreement with Bank of America
N.A. replaces a similarly sized facility that was set to expire in
September 2010. The terms and conditions of this new agreement are
improved from the Company's previous credit agreement including
more favorable pricing and a more broad borrowing base. Similar to
the Company's previous agreement, the credit facility is secured by
substantially all of Merix' North American assets. Borrowings from
the facility can be used to fund working capital, capital
expenditures and other general corporate purposes.
"We are very pleased to continue our relationship with Bank of
America who was a participant in our previous bank facility," said
Kelly E. Lang, Executive Vice President and Chief Financial
Officer. "The new agreement gives us added flexibility to invest in
our growing Asian business."
About Merix
Merix is a leading manufacturer of technologically advanced,
multilayer, rigid printed circuit boards for use in sophisticated
electronic equipment. Merix provides high-performance materials,
quick-turn prototype, pre-production and volume board production to
its customers. Principal markets served by Merix include
communications and networking, computing and peripherals,
industrial and medical, defense and aerospace, and automotive end
markets in the electronics industry. Additional corporate
information is available on the internet at www.merix.com.
Forward-Looking Statements
This release contains "forward-looking statements" within the
meaning of the Securities Litigation Reform Act of 1995 relating to
the Company's business operations and prospects are made pursuant
to the safe harbor provisions of the federal securities laws. These
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
anticipated by these forward-looking statements. The
forward-looking statements in this news release are based on
current expectations, and Merix Corporation assumes no obligation
to update these forward-looking statements.
Merix Investor Relations Contact: Allen Muhich Vice President,
Finance & Investor Relations 503.716.3667
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