N@N

Merix Corporation: Merix Announces Increased Credit Availability Under Its Bank Credit Agreement

^{Published on 2009-05-26 06:35:28, Last Modified on 2009-05-26 06:36:12 - Market Wire}
 

BEAVERTON, OR--(Marketwire - May 26, 2009) - Merix Corporation (NASDAQ: [ MERX ]), a leading provider of high-reliability printed circuit boards, today announced an amendment that increases the availability under its bank line of credit with Bank of America, N.A. The amendment provides for an expansion of accounts receivable eligible to support the borrowing base and also adjusts the credit agreement pricing grid.

"We are pleased with Bank of America's continuing partnership with our Company," said Michael D. Burger, President and Chief Executive Officer of Merix Corporation. "Obtaining a favorable amendment is remarkable in today's credit environment and we believe it reflects Bank of America's continuing support for our business and corporate strategy. Further, the estimated impact of the amendment increases our eligible borrowing base today by approximately $7 million to $8 million and also increases our average interest rate by one percentage point. Total borrowings remain unchanged from the end of our last fiscal quarter, February 28, 2009, with $8 million outstanding. Approximately $38 million is unutilized under the bank credit facility."

About Merix

Merix is a leading manufacturer of technologically advanced multilayer rigid printed circuit boards for use in sophisticated electronic equipment. Merix provides high-performance materials, quick-turn prototype, pre-production and volume production services to its customers. Principal markets served by Merix include communications and networking, computing and peripherals, test, industrial and medical, defense and aerospace, and automotive end markets in the electronics industry. Additional corporate information is available on the internet at [ www.merix.com ].

Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 relating to the Company's business operations and prospects and are made pursuant to the safe harbor provisions of the federal securities laws. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. The forward-looking statements in this news release are based on current expectations, and Merix Corporation does not undertake to update any such factors or to publicly announce developments or events relating to the matters described herein.