AWTE news:
(COMTEX) B: Allwest Systems International, Inc. Receives $2.5 Million
B: Allwest Systems International, Inc. Receives $2.5 Million Line of Credit
DENVER (May 6) BUSINESS WIRE -May 6, 1999--Allwest Systems
International, Inc. (OTCBB:AWTE) today announced that they have
received a $2.5 million line of credit from KBK Financial, Inc., a Ft.
Worth, Texas asset-based lender.
The company paid off their prior line of credit, and the balance of
$500,000.00 will contribute to working capital needs.
"Not only does this new line improve our working capital, but will
save us $180,000.00 per year in interest costs," stated Steven Pickett,
Chairman and CEO of Allwest.
Allwest Systems International, Inc. is a holding company for the
Allwest group of companies with annualized sales of $11.0 million. The
Allwest group is committed to providing integrated life safety systems,
which include fire, security, and sound systems for commercial and
public facilities such as hospitals, schools, prisons, and military
bases. Founded in 1953, Allwest Systems International, Inc. has seen a
500% increase in revenues since Steve Pickett became CEO in 1990,
growing from $1.8 million to $11.0 million in annual revenues. See our
web page at www.allwestsystems.com.
Included in this release are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such expectations reflected in such forward-looking statements
will prove to be correct. The Company's actual results could differ
materially from those anticipated in the forward-looking statements as
a result of certain factors including sales levels, distribution and
competition trends and other market factors.
-0- djm/dx*
CONTACT: Allwest Systems International, Inc.
Steven Pickett, 303/293-2345
KEYWORD: COLORADO TEXAS
INDUSTRY KEYWORD: GOVERNMENT COMPUTERS/ELECTRONICS COMED Today's
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