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Contact:
Michael R. Coston
Director of Marketing and Public Relations
Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn, LLP
Phone: 516-248-1700
Email: mcoston@forchellilaw.com
The Firm COMPLETES REFINANCING
STRUCTURE FOR PHOTOCIRCUITS CORP.
Transaction Leads to Increased Ties with Asian Market
Mineola, June 05, 2002 — Anthony V. Curto, partner
at the Mineola-based law firm of Forchelli, Curto, Schwartz,
Mineo, Carlino & Cohn, LLP (FCSMCC), recently managed
the successful refinancing of Photocircuits Corporation,
a manufacturer and seller of circuitry boards, headquartered
in Glen Cove, NY. FCSMCC partners Barbara Shaheen Alesi
and Anthony Barton, along with associate Joseph DiRenzo,
were the attorneys involved.
According to Curto, FCSMCC completed a $95 million debt
reorganization on behalf of their client. “This is
a very timely transaction for Photocircuits Corp.,”
noted Curto. “By restructuring its debt, the company
will be able to compete even more effectively in the global
automotive market — a key market segment for Photocircuits
products.”
A spokesperson for Photocircuits Corporation reported that
the restructuring arrangement has already led to two new
working relationships with Japanese entities, CMK Corporation
and Matsushita Electric Works, LTD. Photocircuits Corporation
maintains factories in Atlanta, GA, and the Philippines,
and in the process of debt reorganization and refinancing,
undertook $25 million in payments to equipment lenders,
and $70 million to institutional lenders.
FCSMCC has represented Photocircuits Corporation for several
years, handling various commercial real estate, zoning and
environmental issues for them over the years.
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