Brush Engineered Materials Amends Credit Facilities and Comments On Stronger Order Entry Rates for the First Quarter 2003.Business Editors CLEVELAND--(BUSINESS WIRE)--March 11, 2003 Brush Engineered Materials Brush Engineered Materials Inc. is a multinational company specializing in high performance engineered materials emphasizing the qualities of strength, reliability, miniaturization and weight savings, thermal dissipation, electrical conductivity and reflectivity. Inc. (NYSE NYSE See: New York Stock Exchange :BW) today announced that the Company has amended certain credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities and is experiencing an increase in order entry rates. The Company's credit facilities which include a Credit and a Master Lease Agreement were amended effective March 10, 2003. The amendments include changes to the financial covenants, an extension of the Company's Credit Agreement maturity date to April 5, 2004 and a reduction in the Credit Agreement commitment amount from $65 million to $55 million. The Company also reported that it is experiencing an increase in order entry and shipment rates. The increase is visible in both the Metal Systems and Microelectronic segments. Therefore, sales in the first quarter 2003 are now estimated to be near the high end of the previously announced range of 5-10% over sales of $89.6 million in the first quarter 2002. Any forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this announcement are based on current expectations. The Company's actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors. These factors include: the global and domestic economy, the condition of the markets which the Company serves, whether defined geographically or by segment, with the major market segments being telecommunications and computer, optical media, automotive electronics, industrial components, aerospace and defense, and appliance; changes in product mix and the financial condition of particular customers; the Company's success in implementing its strategic plans; other financial factors including exchange rates; and changes in government regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. and the enactment of new legislation that impacts the Company or its customers. Brush Engineered Materials Inc. is headquartered in Cleveland, Ohio "Cleveland" redirects here. For the Cleveland metropolitan area, see . For other uses, see Cleveland (disambiguation). Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state. . The Company, through its wholly-owned subsidiaries, supplies worldwide markets with beryllium beryllium (bərĭl`ēəm) [from beryl ], metallic chemical element; symbol Be; at. no. 4; at. wt. 9.01218; m.p. about 1,278°C;; b.p. 2,970°C; (estimated); sp. gr. 1.85 at 20°C;; valence +2. products, alloy products, electronic products, precious metal products, and engineered material systems. |
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