Arguss Holdings Announces Increased Credit Facilities.Business/Technology Editors ROCKVILLE, Md.--(BUSINESS WIRE)--March 29, 2000 Arguss Holdings, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ARGX) announced the increase of its revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility by $50 million to $150 million. The increased facility is provided by a syndicate of banks led by Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , N.A. Other banks in the syndicate are KeyBank, N.A., Union Bank of California Union Bank of California is one of the 30 largest commercial banks in the United States. It has 327 branches, the majority of which are in San Diego, Los Angeles and Orange Counties. , N.A., Fleet Bank, N.A., National City Bank, and Crestar Bank. Rainer Bosselmann, Chairman and Chief Executive of Arguss Holdings, remarked that "the increase in the credit facility gives us the flexibility to aggressively pursue our internal growth plans and selective acquisition strategy." Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the company with the Securities and Exchange Commission. Arguss Holdings, Inc. (NASDAQ: ARGX) is a holding company that conducts its operations through its wholly owned subsidiaries, Arguss Communications Group, Inc. and Conceptronic, Inc. Arguss Communications Group is engaged in the construction, reconstruction, maintenance, repair and expansion of communications systems, cable television and data systems, including providing aerial construction and splicing splicing /splic·ing/ (spli´sing) 1. the attachment of individual DNA molecules to each other, as in the production of chimeric genes. 2. RNA s. of both fiber optic and coaxial cable to major telecommunications customers. Conceptronic is a worldwide manufacturer of highly advanced, computer-controlled capital equipment used in the electronic, SMT (1) (Surface Mount Technology) See surface mount. (2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software. SMT - Station Management circuit assembly industry. Conceptronic's equipment is sold to most of the world's largest automotive, telecommunications, aerospace, computer and contract assembly manufacturers. |
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