Product category:
Discrete Power Devices
News Release from: Dynex Semiconductor
Edited by the Electronicstalk Editorial
Team on 31 March 2003
Property deal gives Dynex working
capital
Dynex Power has completed a sale and 25-year leaseback transaction of its Doddington Road property in Lincoln, England with the investment arm of the Lincoln Co-operative Society (LCE).
Dynex Power has completed a sale and 25-year leaseback transaction of its Doddington Road property in Lincoln, England with the investment arm of the Lincoln Co-operative Society (LCE) The $8.9 million proceeds are being used by Dynex to reduce debt and provide working capital liquidity
This article was originally published on Electronicstalk on 14 Mar 2001 at 8.00am (UK)
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"The LCE offer was the best option amongst several we reviewed", commented Michael LeGoff, President and Chief Executive Officer of Dynex.
"The LCE professionals proved to be excellent counterparts.
It took a super effort by all involved to complete this transaction on our time line as the critical centrepiece to refinancing the company in the first quarter of 2003".
"We are delighted to have completed this transaction with Dynex", said Kevin Cooke, Chief Executive Designate of Lincoln Co-op and LCE.
"Dynex employs close to 300 people in the Lincoln City area and we saw this as an opportunity for us to help a local business while implementing our strategy for the acquisition of valuable industrial property in Lincolnshire.
We look forward to seeing Dynex grow in the future and to working with them to ensure they remain a viable part of the future of our community".
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