Entrepix Receives Additional Funding from Irwin Union for Expansion of CMP Production Outsourcing
July 21, 2005Entrepix Inc., a leading supplier of CMP outsourcing services and CMP-related equipment, today announced it has secured an additional line of credit from Irwin Union Bank, F.S.B. to fund expansion of its CMP foundry capacity for production outsourcing.
Commenting on the announcement, Entrepix CEO Tim Tobin stated, "With this latest round of funding, Entrepix is accelerating expansion of foundry capacity to address our customers' growing production demands. This incremental funding is a perfect complement to last year's advanced CMP applications expansion for leading IDMs and materials developers. The additional foundry capacity provides our IDM and fabless customers a flexible manufacturing model which improves their market competitiveness and financial performance."
Robert Simpson, Irwin Union V.P. & senior commercial lender, stated, "We are very pleased to support Entrepix with their ongoing business expansion and look forward to their continued success." Entrepix CEO Tim Tobin added, "Our partnership with Irwin Union is an integral part of our success. After reviewing several sources of capital, Irwin Union continues to provide the optimum solution for Entrepix."
Irwin Union Bank, F.S.B. and Irwin Union Bank and Trust Co. (www.irwinunion.com) are wholly owned subsidiaries of Irwin Financial Corp., which is headquartered in Columbus, Ind., 50 miles southeast of Indianapolis. Irwin Union Bank and Trust Co. was founded in 1871, and today operates locally managed banks in Indiana, Michigan, Utah and Nevada. Irwin Union Bank, F.S.B. operates locally managed banks in Arizona, Missouri, Kentucky, Wisconsin and California. Both companies specialize in providing a broad array of personalized financial services for the owner-operated business, entrepreneurial and professional markets.
Entrepix Inc. (www.entrepix.com), formerly Total Fab Solutions Inc., is a leading provider of Chemical Mechanical Planarization (CMP) outsourcing and equipment services. Headquartered in Tempe, Ariz., the company offers an industry-leading CMP technology portfolio and delivers complete solutions from development and integration through full-scale production.
Contacts:
Entrepix, Inc.
www.entrepix.com
Bob Tucker, 602 426-8677
mbowman@entrepix.com