Fabrinet secures loan from Bank of Nova Scotia

Fabrinet has announced that it has 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 Fabrinet's capacity to match current revenue backlog for complex components and subsystems for the fiberoptics, telecommunications, medical, and automotive industries. The terms of the loan have not been disclosed. "Fabrinet continues to stand out as a well managed company that offers its customers a higher level of technical manufacturing and engineering services, support, and expertise than other EMS companies," said VP and County Manager, Kobsak Duangdee, of the Bank of Nova Scotia's Bangkok Office. "The fact that their manufacturing facilities are located in Thailand adds an extra dimension of desirability because they are able to take advantage of a highly trained workforce in a low cost environment.""Expanding our international banking relationship with the Bank of Nova Scotia will enable Fabrinet to continue to support our growing global customer base," explained 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."Source: PCBnewsline