Movers & Shakers June 24, 2010
Quest Integration acquires SolidWorks reseller in Montana
Quest Integration, an Inland Northwest leading value added reseller of SolidWorks design and simulation software, has acquired the SolidWorks business of Salient Technologies, a reseller based in Bozeman, Mont. Quest Integration will add an office and training center in Bozeman.
"We are committed to this area's engineering and manufacturing base," says Quest Integration's President David Minerath. "We look forward to meeting our new customers in person and being an asset to the local community."
The acquisition gives Quest Integration the opportunity to provide manufacturing companies in Montana a large number of certified SolidWorks training classes at some of the lowest prices in the West. In addition, Quest will be expanding their staff to accommodate the technical needs of their new customer base. "It is important that our new customers receive the high level of support our existing customers enjoy," says Mallory Hillyard, Technical Services Supervisor for Quest Integration.
The new office and training center are projected to open by August of this year. Says David Minerath, "although we've been supporting Montana manufacturing and education since 1998, this acquisition strengthens our investment of time and resources into the local area."
Timberline Resources gets extension on $5M convertible loan
Timberline Resources Corp. has extended the due date of its outstanding $5 million convertible note with Small Mine Development, LLC until April 30, 2012.
Randal Hardy, Timberline's CEO, commented, "We are happy to obtain this long-term extension of this loan which was possible due to our close affiliation and working relationship with SMD. The due date is now extended to a time when we expect to be producing gold and generating cash flow from our Butte Highlands Gold Project, where we continue to work closely with SMD as our partner and the operator."
The note remains convertible by SMD at any time prior to the payment of the note in full at a conversion price of $1.50 per share, and the note may be prepaid by Timberline in whole or in part at any time without premium or penalty. The other terms of the note remain unchanged with the exception of the monthly interest which is now payable monthly in cash. As consideration for SMD to extend the due date of the loan, Timberline paid all of the interest accrued from the original date of the loan through June 30, 2010 in cash along with a 1 percent loan extension fee.
May joins Forrest Technical Coatings
Brad May has been hired by Forrest Technical Coatings of Eugene, Ore., as their outside sales representative for eastern Washington, North Idaho, and western Montana. He previously worked for Columbia Paint & Coatings and has 21 years of experience in the coatings industry.
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