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| [July 10, 2012] |
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PCT International Secures $25 Million in Growth Capital
MESA, Ariz. --(Business Wire)--
PCT International (News - Alert), Inc., a world leader in last-mile products for the
broadband industry, is pleased to announce it has secured over $25
million in global credit facilities provided by Bibby Financial Services
and China Bank of Communications. The new facilities recapitalize PCT's
existing lenders and provide attractive growth funding to support PCT's
strategic global initiative. PCT will utilize proceeds to expand
manufacturing capacity, increase research and development and support
expansion of its industry-leading line of last-mile broadband products.
"The commitments from our financing partners in the United States and
China demonstrate the success of our business model, high-quality
product offering and industry-leading infrastructure. The new facilities
greatly enhance our financial flexibility and capacity to support the
global expansion of our brand, products offering, customer service and
international reach," commented Steven Youtsey, Founder and CEO of PCT
international, Inc. Since establishing the company in 1997, Mr. Youtsey
has remained committed to his vision for PCT as a developer and global
supplier of superior last-mile technology products for the broadband and
communications idustries.
"This client has a strong reputation for innovation and efficiency,"
said Nick Hart, Managing Director, Bibby Financial Services. "We are
always looking to support businesses that need increased cash flow to
grow. As a global company, with 46 offices across 14 countries, we are
uniquely positioned to help PCT International grow its footprint both
domestically and abroad. We look forward to working alongside its
experienced staff during this period of expansion."
About PCT International, Inc.
Established in 1997, PCT International, Inc. provides superior last-mile
and premise products and solutions for broadband communications networks
to customers in more than 60 countries. The company leverages innovative
engineering, four state-of-the-art manufacturing facilities and a
highly-efficient distribution network to ensure quality, service and
pricing benefits for broadband, CATV, satellite and structured wiring
customers.
PCT International's "Hardened Drop" approach is a total solution from
the tap to the customer premise equipment that is designed to reduce
costs for operators and enhance satisfaction for subscribers. PCT
International and its holding company, Andes Industries, Inc., are
headquartered in Mesa, Arizona. For more information, please visit www.pctinternational.com.
Related Links
www.pctinternational.com
www.bibbyusa.com
www.bankcomm.com
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