To complete the transaction, Fleet Capital provided senior term loans and a revolving credit facility. With American Capital financing, the company plans to concentrate on expanding the profitable shelving business and building its position in the racking industry. Management is also planning to hire salespeople for Dallas Tube. Further improvements will be realized through productivity enhancements, operational cost savings, and a growing top line generated by the strong demand and robust growth in this market. Inca's location is also favorable.
Worth area continues to be one of the fastest growing metropolitan areas in the state.
In 1997, the fabricated metals industry was Texas' seventh largest export industry, accounting for 16 percent of total U.S. fabricated metals exports. We are very pleased to be working with them as they take the company to the next level in terms of production, service and quality. All Inca's markets are predicted to be strong. The steel pipe and tube industry is also on the rise. Added to this, the steel processing sector has experienced strong growth, and industry analysts expect further increases.