NAPCO Announces New Line of Credit
NAPCO Security Systems Inc., a manufacturer of electronic security equipment, announces a commitment from HSBC Bank to increase its credit facility to $25 million.
The credit funds will be used to support NAPCO’s growth and provide funding for potential acquisitions, according to the company.
“The availability of these funds combined with our strong operating income gives us greater flexibility to respond to market opportunities,” says NAPCO CEO Richard Soloway. “This increase is a strong affirmation of HSBC Bank’s belief in the company’s business plan and its growth prospects.”
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