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Materion inks new $375 million financing agreement

MAYFIELD HEIGHTS, Ohio (AP) -- Materion Corp., which supplies engineered materials to technology companies, said Tuesday that it entered into a new credit agreement.

The agreement, which matures on June 20, 2018, provides for a $375 million committed revolving credit facility, which represents an increase of $50 million over the company's previous financing. It also includes an option for an additional uncommitted facility of up to $100 million.

Mayfield Heights, Ohio-based Materion said the new facility provides it with more favorable interest rates, along with increased borrowing capacity and will accommodate future growth.