Newport Corp. Credit Line Now at $40 Million
Dow Jones
Newport Corp. said Wednesday it has increased its unsecured credit line with ABN Amro Bank NV to $40 million from $25 million.
The credit line will be used for making acquisitions, developing and enhancing products and expanding facilities, said the Irvine company, which makes high-precision testing and automated assembly equipment for manufacturing, engineering and research.
Newport’s stock closed at $130.38, off $3.69 a share, in Nasdaq trading.
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