Merrimac Completes Credit Facility Refinancing
18 Oktober 2006 - 11:18PM
PR Newswire (US)
WEST CALDWELL, N.J., Oct. 18 /PRNewswire-FirstCall/ -- Merrimac
Industries, Inc. (AMEX:MRM), today announced the refinancing of its
existing revolving credit, term loan, mortgage and letter of credit
facility with a new North Fork Bank (NYSE:NFB) facility. The
refunding, which replaces a similar facility with another lender,
represents a two-year revolving credit and letter of credit
facility, five-year term loan and ten-year mortgage, aggregating
$10,000,000. The new facility is fully secured by substantially all
of the Company's assets. About Merrimac Merrimac Industries, Inc.
is a leader in the design and manufacture of RF Microwave signal
processing components, subsystem assemblies, and Multi-Mix(R)
micro-multifunction modules (MMFM(R)), for the worldwide Defense,
Satellite Communications (Satcom), Commercial Wireless and Homeland
Security market segments. Merrimac is focused on providing Total
Integrated Packaging Solutions(R) with Multi-Mix(R)
Microtechnology, a leading edge competency providing value to our
customers through miniaturization and integration. Multi-Mix(R)
MMFM(R) provides a patented and novel packaging technology that
employs a platform modular architecture strategy that incorporates
embedded semiconductor devices, MMICs, etched resistors, passive
circuit elements and plated-through via holes to form a
three-dimensional integrated module applicable to High Power, High
Frequency and High Performance mission-critical applications.
Merrimac Industries facilities are registered under ISO 9001:2000,
an internationally developed set of quality criteria for
manufacturing operations. Merrimac Industries, Inc. has facilities
located in West Caldwell, NJ, San Jose, Costa Rica and Ottawa,
Ontario, Canada, and has approximately 230 co-workers dedicated to
the design and manufacture of signal processing components, gold
plating of high-frequency microstrip, bonded stripline and thick
metal-backed Teflon (PTFE) micro-circuitry and subsystems providing
Total Integrated Packaging Solutions(R) for wireless applications.
Merrimac (MRM) is listed on the American Stock Exchange.
Multi-Mix(R), Multi-Mix PICO(R), MMFM(R) and Total Integrated
Packaging Solutions(R) are trademarks of Merrimac Industries, Inc.
For more information about Merrimac Industries, Inc. and its
Canadian subsidiary Filtran Microcircuits Inc., please visit
http://www.merrimacind.com/ and http://www.filtranmicro.com/ .
Contact: Mason N. Carter, Chairman & CEO 973-575-1300, ext.
1202 DATASOURCE: Merrimac Industries, Inc. CONTACT: Mason N.
Carter, Chairman & CEO of Merrimac Industries, Inc.,
+1-973-575-1300, ext. 1202, or Web site:
http://www.merrimacind.com/ http://www.filtranmicro.com/ Company
News On-Call: http://www.prnewswire.com/comp/567525.html
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