RELM lands orders worth $2 million
RELM Wireless Corp., announced this week it had received about $2 million in purchase orders from various federal and state government agencies in September, primarily for its BK Radio Project 25-compatible product line, including the DPH digital portable handheld radio.
In other news, the company said it had reached an agreement with Silicon Valley Bank to extend its revolving credit facility until January 1, 2007. In addition, certain terms and conditions have been modified to reduce related costs. The original agreement finalized in August 2003 provided RELM with a $2.5 million revolving line of credit for one year, secured by “substantially all” of the company’s assets, according to the company. The facility was increased earlier this year to $3.5 million and the maturity was extended to January 1, 2005.