Axcelis Technologies Strengthens Cash Position
BEVERLY, Mass., July 9, 2013 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry, announced today that it has closed a $15 million three year term loan with Northern Bank & Trust Company, Woburn, MA. The loan is secured by a mortgage on Axcelis' headquarters facility in Beverly. The proceeds will be available as needed to fund growth, specifically investments in the leading edge Purion ion implant platform.
"With the market improving and the demand for our Purion platform based products increasing, having a strong cash balance is critical," stated Mary Puma, Chairman and CEO. "This loan allows Axcelis to tap into the value we have in our facility and almost 60 acres of property to further strengthen our balance sheet. We want to thank Northern Bank & Trust for providing Axcelis the opportunity to partner with a Massachusetts bank to support the global growth of a local high technology company."
Axcelis Technologies, Inc. (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 35 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. The Company's Internet address is: www.axcelis.com.
Maureen Hart (editorial/media) 978.787.4266
Doug Lawson (investor relations) 978.787.9552
SOURCE Axcelis Technologies, Inc.