Louice
05-26-2010, 03:19 AM
http://www.pcbpartner.com/show.html?key=20081218000000000009&language=en¤tpage=2
SMTC Corp announced strategic relationship with Kontron Canada Inc. Qualification activities were finalized in the second half of 2009 with production commencing in first quarter of 2010 at both facilities
SMTC said it will provide Kontron with PCB and module level assembly manufacturing in its Chihuahua, Mexico and Dongguan, China facilities. SMTC's location in Toronto will support Kontron's design teams with early manufacturing involvement activities. SMTC said that Kontron offers a diverse line of products that includes Compact PCI and ATCA/AMC processing platforms.
Additionally, SMTC announced it has signed amended loan agreements with Wells Fargo Capital Finance Corp., and Export Development Canada to refinance short and long term debt. Under the new lending arrangements, the term and principal repayment schedule have been extended to 2013 and virtually all principal payments eliminated in 2010
With the performance for the company continuing to improve, interest rates have been reduced and covenants either eliminated or modified.
Interest rates on the revolving line of credit are now at prime rate plus 1%, currently representing an aggregate rate of 3.25% in Canada and 4.25% in the US; reducing to prime rate as performance improves. Interest rates on the term loan will also vary depending upon financial performance in the range of LIBOR plus 2.5% to 3.5%, currently 2.8% to 3.8% in aggregate
Source: www.pcbpartner.com
SMTC Corp announced strategic relationship with Kontron Canada Inc. Qualification activities were finalized in the second half of 2009 with production commencing in first quarter of 2010 at both facilities
SMTC said it will provide Kontron with PCB and module level assembly manufacturing in its Chihuahua, Mexico and Dongguan, China facilities. SMTC's location in Toronto will support Kontron's design teams with early manufacturing involvement activities. SMTC said that Kontron offers a diverse line of products that includes Compact PCI and ATCA/AMC processing platforms.
Additionally, SMTC announced it has signed amended loan agreements with Wells Fargo Capital Finance Corp., and Export Development Canada to refinance short and long term debt. Under the new lending arrangements, the term and principal repayment schedule have been extended to 2013 and virtually all principal payments eliminated in 2010
With the performance for the company continuing to improve, interest rates have been reduced and covenants either eliminated or modified.
Interest rates on the revolving line of credit are now at prime rate plus 1%, currently representing an aggregate rate of 3.25% in Canada and 4.25% in the US; reducing to prime rate as performance improves. Interest rates on the term loan will also vary depending upon financial performance in the range of LIBOR plus 2.5% to 3.5%, currently 2.8% to 3.8% in aggregate
Source: www.pcbpartner.com