TXP Receives $1 Million Line of Credit
RICHARDSON, TX, Aug 14, 2006 (MARKET WIRE via COMTEX) -- TXP Corporation (OTCBB: TXPO), a global provider of Pre-Manufacturing Services for the electronics industry, today announced that it has received a two-year $1 million revolving line of credit for general working capital purposes with a regional commercial bank. As previously announced, the company entered an agreement, whereby it has secured $2.0 million of assets from an outside investor, which is being held as collateral for the revolving line of credit. As such, the company has additional borrowing capacity it could access should the need arise.
"As planned, this line of credit provides us greater financial flexibility as we add Fortune 500 customers and work towards enterprise-wide deployment of our services with large OEMs," stated Michael C. Shores, president and chief executive officer of TXP Corporation.
