Printer Friendly

PERCEPTRON RECEIVES $4.5 MILLION CREDIT FACILITY

 FARMINGTON HILLS, Mich., June 29 /PRNewswire/ -- Perceptron, Inc. (NASDAQ Small-Cap Market: PRCP) announced today that the company has received new credit facilities totaling $4.5 million from NBD Bank, N.A. (NYSE: NBD) headquartered in Detroit. These credit facilities replace the company's existing $2.5 million credit facility.
 Perceptron intends to use the credit facility to finance its European activity, for capital equipment and general corporate working capital purposes. The domestic facility, which bears interest at NBD's prime rate, have an expiration date of June 30, 1994.
 "We are very pleased that NBD has provided us with this credit facility. We have had a strong relationship with NBD in our European operations since 1985," said Dwight D. Carlson, president and chief executive officer of Perceptron. "We are particularly pleased that our business progress over the last years, specifically our recent record earnings and our strengthened balance sheet following our Initial Public Offering, has positioned us to be able to work with such a fine organization."
 "We are simply delighted to expand our relationship with Perceptron," said Steven C. Broughton, first vice president and a regional director of NBD. "We feel that the company is positioned in an exciting industry and we are pleased to be part of their future growth."
 Perceptron is a leading 3-D imaging solutions company which develops and markets non-contact measurement and guidance systems. Its laser- based datacameras, image-processing hardware and proprietary software are used in object recognition, measurement, guidance and inspection applications. Perceptron products are marketed in North America, Europe and Asia.
 -0- 6/29/93
 /CONTACT: Dwight D. Carlson, president & CEO, or Joseph Ben-Gal, V.P. Finance & CFO, Perceptron, Inc., 313-478-7710/
 (PRCP NBD)


CO: Perceptron, Inc.; NBD Bank, N.A. ST: Michigan IN: CPR FIN SU:

KR -- DE025 -- 6813 06/29/93 15:14 EDT
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:Jun 29, 1993
Words:300
Previous Article:SEAFARERS INTERNATIONAL UNION STATEMENT ON SEA-LAND SERVICE, INC.
Next Article:MICHAEL McCANHAM TO JOIN WXYZ-TV/CHANNEL 7 AS ASSIGNMENT MANAGER
Topics:


Related Articles
PERCEPTRON ANNOUNCES PROFIT AND GROWTH FOR THIRD QUARTER
PERCEPTRON ANNOUNCES RECORD EARNINGS AND SALES FOR 1992
PERCEPTRON ANNOUNCES $1.2 MILLION FORD INSTALLATION
PERCEPTRON ANNOUNCES SECOND QUARTER RESULTS
PERCEPTRON AWARDED $8.2 MILLION IN NEW ORDERS
PERCEPTRON ANNOUNCES RECORD EARNNGS FOR 1993, NET INCOME INCREASE OF 48%
PERCEPTRON ANNOUNCES FIRST QUARTER 1994 RESULTS; NET SALES AND INCOME UP SHARPLY
PERCEPTRON REPORTS NEW ORDER BOOKINGS
PERCEPTRON REPORTS RECORD THIRD QUARTER 1995 RESULTS
PERCEPTRON APPOINTS VICE PRESIDENT OF ENGINEERING

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