Newport’s Credit Line Gets Boost
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IRVINE — Newport Corp. said Friday that its major lender has increased the company’s existing unsecured working capital credit line to $25 million from $20 million and has extended the due date to Dec. 31, 2000.
The maker of precision instruments for computer and communications equipment said it will use the extra money to support long-range acquisition plans, to penetrate key industry markets and to facilitate product development.
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