News Release
FOR IMMEDIATE RELEASE
Contact: Mason N. Carter, Chairman & CEO
973-575-1300, ext. 1202
mnc@merrimacind.com
Merrimac Completes Credit Facility Refinancing
WEST CALDWELL, N.J., October 18, 2006:
Merrimac Industries, Inc. (AMEX: MRM), today announced the
refinancing of its existing revolving credit, term loan, mortgage
and letter of credit facility with a new North Fork Bank (NYSE:
NFB) facility. The refunding, which replaces a similar facility
with another lender, represents a two-year revolving credit
and letter of credit facility, five-year term loan and ten-year
mortgage, aggregating $10,000,000. The new facility is fully
secured by substantially all of the Company’s assets.
About Merrimac
Merrimac Industries, Inc. is a leader in the design and manufacture
of RF Microwave signal processing components, subsystem assemblies,
and Multi-Mix® micro-multifunction modules (MMFM®),
for the worldwide Defense, Satellite Communications (Satcom),
Commercial Wireless and Homeland Security market segments.
Merrimac is focused on providing Total Integrated Packaging
Solutions® with Multi-Mix® Microtechnology, a leading
edge competency providing value to our customers through miniaturization
and integration. Multi-Mix® MMFM® provides a patented
and novel packaging technology that employs a platform modular
architecture strategy that incorporates embedded semiconductor
devices, MMICs, etched resistors, passive circuit elements
and plated-through via holes to form a three-dimensional integrated
module used in High Power, High Frequency and High Performance
mission-critical applications. Merrimac Industries facilities
are registered under ISO 9001:2000, an internationally developed
set of quality criteria for manufacturing operations.
Merrimac Industries, Inc. has facilities located
in West Caldwell, NJ, San Jose, Costa Rica and Ottawa, Ontario,
Canada, and has approximately 230 co-workers dedicated to
the design and manufacture of signal processing components,
gold plating of high-frequency microstrip, bonded stripline
and thick metal-backed Teflon (PTFE) micro-circuitry and subsystems
providing Total Integrated Packaging Solutions® for wireless
applications. Merrimac (MRM) is listed on the American Stock
Exchange. Multi-Mix®, Multi-Mix PICO®, MMFM®,
System In A Package®, SIP® and Total Integrated Packaging
Solutions® are registered trademarks of Merrimac Industries,
Inc. For more information about Merrimac Industries, Inc.
and its Canadian subsidiary Filtran Microcircuits Inc., please
visit http://www.merrimacind.com
and http://www.filtranmicro.com
.
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