Palomar Technologies Offers Flexible Financing

Nov. 28, 2001
Palomar Technologies, a manufacturer of automated high-precision assembly systems for broadband communications, has established Palomar Financial Services to provide flexible, competitive financing for the acquisition of Palomar equipment. The new entity will provide optoelectronic and high frequency wireless component manufacturers with a variety of credit options to finance Palomar�s automated assembly equipment

Palomar Technologies, a manufacturer of automated high-precision assembly systems for broadband communications, has established Palomar Financial Services to provide flexible, competitive financing for the acquisition of Palomar equipment. The new entity will provide optoelectronic and high frequency wireless component manufacturers with a variety of credit options to finance Palomar�s automated assembly equipment and obtain the benefits of increased yield and throughput.

Palomar Financial Services offers customers flexible credit terms and leasing programs that provide predictable monthly payments. By being fully integrated with Palomar Technologies, Palomar Financial Services speeds credit decisions and order processing. It also provides manufacturers with the benefit of an alternative source of credit, keeping cash and other lines of credit available for other needs. Flexible terms include no money down, three months deferred payments, and step-up payments.

"In today�s tight economic environment, component manufacturers are looking for ways to increase the efficiency of their operations, but want flexibility in financing the capital equipment they need," said Carl Hempel, controller of Palomar Technologies. "Now our customers have a way to achieve the cost savings provided by our equipment without having to expend capital dollars upfront."

Jeff King, Palomar�s director of sales, added, "The response from our customers has been very positive. Growth in the optical and wireless component market will come from higher-performance next-generation products. Financing alternatives allow customers to gain momentum and move ahead with the development of these new products."

For more information, visit www.palomartechnologies.com.

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