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The catalog distributor, a subsidiary of Electrocomponents, began construction on a 365,000-sq. ft. facility that will replace the company’s existing rented space. The new facility will help accommodate the company’s growth, as it expects to create an additional 300 jobs over the next several years.
Construction is expected to be completed as early as summer 2007.
The servers are built by Solectron Corp. in Charlotte, NC
The EMS company had been involved in a breach of contract filing dating to Sept. 11, 2003. The suit was settled for $200,000, on Feb. 24, according to court filings and company statements.
As of Dec. 23, the interest rate will be 6.84%. The maturity date is Dec. 23, 2015.
The amount would be three times the company's revenue of $100 million in 2005, CEO Bill Sullivan said.
NORTH YORK, ONTARIO -- ZTest Electronics Inc. is offering shares of the company in order to raise $1.44 million in financing, the company said today. Proceeds will be used for future acquisitions and working capital.
Each unit will be priced at $0.16
and will be comprised of one common share and one-half of a common
share purchase warrant. Each full warrant entitles the holder to acquire a
further common share at the price of $0.24 for a period of two years from
closing. The corporation will pay a finder's fee of up to 6% of the value of
the units in cash.
Completion of this transaction is subject to the approval of the Toronto Exchange.
Separately, the company said directors William Brown and Cal Haverstock have tendered their resignations, effective this week. Haverstock joined the board last June.
ZTest's wholly owned subsidiary, Permatech Electronics, is an low-volume EMS provider.
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