Fort Lauderdale, Florida-based Encore Computer Corp is having to go back yet again to Nippon Mining Co, which now calls itself Japan Energy Corp for a new recapitalisation. The plan will include adding shareholder equity to improve the balance sheet and increase the company’s revolving credit. Encore needs the additional money to finance its marketing of the new Infinity SP30 Intelligent Storage Processor for IBM Corp mainframes and Unix systems. Nippon Mining or Japan Energy got stuck with Encore when it bought Gould Inc, and failed in its efforts to offload the computer business at an acceptable price; it has since had to find more cash several times to avoid writing the company off altogether.
