Close

Search

Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
SPECIAL ANNOUNCEMENT
2016 Photonics Buyers' Guide Clearance! – Use Coupon Code FC16 to save 60%!
share
Email Facebook Twitter Google+ LinkedIn Comments

IPG Obtains Deutsch Credit

Photonics.com
Oct 2007
OXFORD, Mass., Oct. 15, 2007 -- IPG Photonics Corp. announced today it has entered into a new 15 million euro ($21 million) unsecured revolving credit facility with Deutsche Bank AG.

The new credit line replaces several secured overdraft facilities totaling about $8 million, which expire at set dates through June 2010. It supplements another $20 million unsecured revolving credit facility from Bank of America NA that was signed in July.

Funds from the new line of credit will be used to support IPG Photonics’ global operations, to pay down existing bank debt and for general corporate purposes, the company said in a statement.

“We are pleased to have secured this new credit facility because it offers us better terms, a longer-term committed line and additional liquidity,” said IPG Photonics Chief Financial Officer Tim Mammen. “The new credit facility gives us additional financial flexibility as we capitalize on the growing demand for our fiber lasers.”

For more information, visit: www.ipgphotonics.com



GLOSSARY
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
plasma
A gas made up of electrons and ions.
Comments
Terms & Conditions Privacy Policy About Us Contact Us
back to top

Facebook Twitter Instagram LinkedIn YouTube RSS
©2016 Photonics Media
x We deliver – right to your inbox. Subscribe FREE to our newsletters.