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Chemical Bank Provides $8MM Line of Credit to Perceptron, Inc.

December 07, 2017, 07:01 AM
Filed Under: Manufacturing

Perceptron, Inc., a global provider of 3D automated metrology solutions and coordinate measuring machines, announced it has entered into a new loan agreement for an $8 million on-demand line of credit with Chemical Bank. The new credit line provides increased borrowing capacity, which will allow for greater strategic and operational flexibility. This agreement replaces the Company’s previous $6 million line of credit with Comerica Bank.

“We are very excited about this new agreement and the added resources it provides us to pursue our long-term strategic growth objectives,” said Dave Watza, President and CEO. “The increased capacity is a testament to the financial transformation Perceptron has made and positions us well for additional growth and expansion of our addressable market. We continue to focus on prudent management of working capital, and thank our lending partners for their support.”The new loan agreement is an on-demand line of credit, secured by substantially all of the Company’s assets in the United States.About Perceptron

Perceptron develops, produces and sells a comprehensive range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and 3D scanning. Products include 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning and advanced analysis software. Global automotive, aerospace and other manufacturing companies rely on Perceptron's metrology solutions to assist in managing their complex manufacturing processes to improve quality, shorten product launch times and reduce costs.


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