Axcelis Technologies, a manufacturer of semi-conductors, recently mortgaged it's property on Cherry Hill Drive to provide more capital for their new Purion implant platform, according to Biz Journals.
Axcelis recently mortgaged the property for $15 million to support the new Purion platform, which demand for has been increasing.
“This loan allows Axcelis to tap into the value we have in our facility and almost 60 acres of property to further strengthen our balance sheet," said CEO Mary Puma. “We want to thank Northern Bank & Trust for providing Axcelis the opportunity to partner with a Massachusetts bank to support the global growth of a local high technology company.”
Last year the company went through some restructuring, getting rid of roughly 50 positions and selling of assets and intellectual property.
Read the full article on the Biz Journals website.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.