Printer Friendly

FSI INTERNATIONAL, INC. ANNOUNCES $3.0 MILLION EXPORT FINANCING PROGRAM AND ELECTION OF DIRECTORS

 MINNEAPOLIS, Jan. 7 /PRNewswire/ -- FSI International, Inc. (NASDAQ: FSII), announced at its annual shareholders' meeting, held today, that it has finalized a $3.0 million working capital revolver, to finance export sales, with First Bank National Association, Minneapolis. Loans under this program are secured by certain export inventory and accounts receivable and are guaranteed by the Export-Import Bank of the United States.
 "We are pleased to be the first company to complete this type of financing program with First Bank," said Joel Elftmann, FSI chairman, president and chief executive officer. "This financing supplements our existing $7.0 million revolving line of credit with Congress Financial Corporation and gives us approximately $10.0 million of available working capital."
 Also at the company's annual meeting, three directors were elected to three-year terms. They are: James Bernards, president, Stirtz, Bernards & Company; Terrance Glarner, president, North Star Ventures; and Charles Wofford, chairman, president and chief executive officer, FARR Company.
 "Mr. Bernards and Mr. Glarner have been directors of the company since 1981 and 1988, respectively," stated Elftmann. "Mr. Wofford brings with him approximately 35 years of semiconductor industry experience, including 33 years in various positions at Texas Instruments."
 FSI International, Inc. is a leader in producing automated surface conditioning equipment for processing silicon wafers. The company develops, manufactures, markets and services spray processing systems, vapor phase processing systems, photoresist processing cluster tools and chemical management systems for use in the fabrication of advanced semiconductor integrated circuits. FSI's customers include semiconductor manufacturers located throughout North America, Europe, Japan and the Far East.
 -0- 1/7/93
 /CONTACT: Benno Sand of FSI, 612-448-8936, or Marian Briggs of Padilla Speer Beardsley, 612-871-8877, for FSI/
 (FSII)


CO: FSI International, Inc. ST: Minnesota IN: SU:

KH -- MN013 -- 2817 01/07/93 16:46 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 7, 1993
Words:295
Previous Article:FIRING TESTS OF SPACE STATION PROPULSION TEST ARTICLE UNDERWAY
Next Article:ARKWRIGHT AND ILLINI?S BELL SETTLE LAWSUIT FROM 1988 MOTHER'S DAY FIRE FOR $16 MILLION
Topics:


Related Articles
FSI INTERNATIONAL ANNOUNCES FIRST-QUARTER RESULTS
FSI INTERNATIONAL ANNOUNCES SECOND-QUARTER AND FIRST-HALF RESULTS
FSI INTERNATIONAL ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS
FSI INTERNATIONAL ANNOUNCES FOURTH-QUARTER GAINS, STRONG INCREASE IN BACKLOG
FSI INTERNATIONAL, INC. ANNOUNCES $2.0 MILLION GRANT FOR SEMICONDUCTOR PROCESSING TECHNOLOGIES
FSI INTERNATIONAL, INC. ANNOUNCES SIXTH CONSECUTIVE QUARTER OF FINANCIAL IMPROVEMENT
FSI INTERNATIONAL, INC. ANNOUNCES SALES AND INCOME GAINS FOR FISCAL THIRD QUARTER AND NINE MONTHS
FSI INTERNATIONAL ANNOUNCES GAINS IN FISCAL 1993 REVENUES AND EARNINGS
FSI INTERNATIONAL, INC. ANNOUNCES HIGHER FIRST QUARTER REVENUES AND EARNINGS
FINANCING FOR SCIENCE INTERNATIONAL, INC. EXPANDS ASSET SECURITIZATION PROGRAM TO $100 MILLION

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters