This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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.

CONTACTS: Maureen Hart (editorial/media) 978.787.4266 Doug Lawson (investor relations) 978.787.9552

SOURCE Axcelis Technologies, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs