Fabrinet Secures a Loan from the Bank of Nova Scotia
Fabrinet (Bankok, Thailand), an engineering and electromechanical manufacturing services company, announced that they have executed on a new credit facility from the Bank of Nova Scotia. The funds will be used to finance the purchase of new equipment to increase the company's capacity to match current revenue backlog for components and subsystems for the fiberoptics, telecommunications, medical and automotive industries. The terms of the loan have not been disclosed.
Fabrinet has received previous funding from the Bank of Nova Scotia. Growth in operations with existing customers and an increase in new customer orders necessitated an expansion of current funding.
"Expanding our international banking relationship with the Bank of Nova Scotia will enable Fabrinet to continue to support our growing global customer base," said Fabrinet Sr. vice president, strategy & corporate affairs, Mark Schwartz. "We are especially pleased to further our existing relationship with one of the premier lending institutions in the world, with regional offices in many of the same cities and time zones as our factories and customer base."
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