/24-7PressRelease/ - September 24, 2007 - STERLING, VA (September 24, 2007) - CRYPTEK, Inc., a privately held manufacturer and provider of security solutions announced the company has secured a new $5M revolving credit facility through Wachovia Bank, N.A.. The credit line will provide for the working capital needs to support Cryptek's continued growth plans.
"This new credit line provides Cryptek with additional financial and cash flow flexibility as the company continues to grow", said Mark Paiewonsky, Cryptek's Chief Financial Officer. "We are pleased that Wachovia Bank, N.A. is supporting Cryptek and is helping us achieve our business objectives."
"This new credit line is another step towards expanding our ability to deliver a wider range of communication security products for U.S., Canadian, and NATO governments as well as prime contractors", said Bill Anderson, Cryptek's President & CEO. "We will continue to grow and expand our business base, and this larger credit line will certainly help us achieve this goal. We have already completed two successful acquisitions this year and will continue to look for other strategic opportunities."
ABOUT CRYPTEK: Cryptek, Inc., a privately held developer, manufacturer and solutions integrator is recognized as an industry leader of dynamic and trusted identity and access control solutions and TEMPEST products. With over 20 years of experience in developing and delivering security solutions, Cryptek has worked with numerous DoD & Civilian agencies. Partnered with the industries top software and hardware manufacturers, Cryptek offers customers advanced security solutions to meet their ever growing needs. Current Cryptek solutions have been awarded an EAL 4 rating from Common Criteria (CC) and numerous cryptographic module evaluation certificates as part of the National Institute of Standards and Technology (NIST) Federal Information Processing Standards Publication (FIPS PUB140). For more information, please visit the Cryptek web site at
www.cryptek.com.
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