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Board of Directors Approves New $5,500,000.00 Credit Facility
Dallas, Texas - March 1, 2002 - Compass Bank and Humanetics II, LTD. closed a new $5.5 million loan package that will provide financing for the company's capital equipment and working capital needs for the next five years.
According to Art Holbrook, Chairman & CEO, Compass Bank has been the primary bank for Humanetics for approximately 10 years. This stable banking relationship, plus the strong customer relationships built by the company over the past 30 years, positions Humanetics to rebound quickly as the economy recovers.
Humanetics is an integral supplier of precision sheet metal fabricated and/or machined parts for original equipment manufacturers (OEMs) and contract manufacturers (CMs) in the telecommunication, semi-conductor, medical, and defense industries.
Humanetics currently has three Texas manufacturing locations - a 113,000 square foot facility in Dallas/Carrollton, a 55,000 square foot facility in Austin/Manor, and a second Dallas/Carrollton location (primarily servicing customer engineering, development & prototype requirements) consisting of 17,000 square feet. Humanetics' lean and quick-response manufacturing techniques utilized in all three plants allow the company to meet customers' quick-turn requirements.
Humanetics
www.humanetics.com
972-416-1304
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