Wahlco Environmental Systems Inc.: The Santa Ana...
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Wahlco Environmental Systems Inc.: The Santa Ana designer and manufacturer of air pollution control and power efficiency equipment said Friday that negotiations to obtain a package of loans and other financing totaling $5 million have been terminated.
Wahlco said the talks ended after Pacific Diversified Capital Co., which owns about 81% of Wahlco, reached an impasse with the unidentified third-party lender on certain issues.
Wahlco said Pacific Diversified has indicated that it will not provide additional funding. As a result, Wahlco said in a statement that it is evaluating strategies to meet its working-capital needs, including new investors or lenders or the sale of assets.
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