Santa Paula Plant Reopens

A Santa Paula company that in 1990 filed for bankruptcy protection has reopened and hopes to provide 150 jobs in the next six months.

The company, Valco V Automotive Products Inc., was formerly known as Valco Automotive Products Inc. The V was added to represent the five Ventura County investors who hope to resuscitate the firm, according to its new president and chief executive, Chuck Fesler.

“Eventually, we hope to have 300 employees, but I’m not sure how long that will take,” Fesler said. He said the company, which remanufactures automotive alternators, starters and generators for the do-it-yourself market, has already rehired its former plant superintendent and a former senior manager.

The founder and former president, William Odle, is acting as an informal adviser to management, Fesler said.

He said the company expects to start production soon. He added that several major parts distributors have already expressed interest in placing orders.

One of Valco’s backers, Robert Banman, owner of Prairie Pacific Investments in Santa Paula, said financing was “extremely difficult” to find. The partners finally obtained a $1-million loan from American Commercial Bank in Ventura, he said. In addition, the partners will provide about $500,000 to cover start-up costs, Banman said.

Fesler said that 130 of those hired will be entry-level hourly workers and that 20 will be office and management personnel. When Valco closed in October, 1990, it had 400 on the payroll, he said.