Waterman Industries Partners with Wells Fargo
EXETER, Calif., Oct. 24 / -- Waterman Industries, one of America's most respected water treatment manufacturing companies, has partnered with Wells Fargo to finance the planned international growth of the Exeter-based operation.
"This is a multi-million dollar relationship," said Don Schaefer, chief financial officer for Waterman. "The partnership assures that we will have all the capital we need to grow."
The demand for gates and valves used in water treatment is surging.
Waterman has launched new projects in Belarus, Latin America, Asia and the Caribbean Basin. The company recently announced new business relationships in Jordan, Palestine, (West Bank and Gaza), Lebanon, Kuwait, Saudi Arabia, Qatar, the United Arab Emirates, Oman, Bahrain and Yemen.
Wells Fargo will now provide loans, lines of credit, equipment financing and working capital.
"We have had a long tradition of banking with Wells Fargo and this new agreement provides us with the capital needed to support our aggressive growth," said Rob Pokelwaldt, CEO of Waterman. "Wells Fargo understands our business and our needs, having served as the primary banker for Waterman Industries during the past quarter century."
Timothy P. Ulrich, vice president with Wells Fargo Business Credit, said, "We look forward to helping Waterman access the financing needed to achieve the business objectives."
Waterman Industries, located amid orange groves in California's San Joaquin Valley, has earned an international reputation over the past 95 years for building quality valves and gates for water and wastewater treatment in municipal facilities along with a line of agricultural irrigation and drainage products.
Source: Waterman Industries
CONTACT: Phoebe Wall Howard, +1-415-246-8794, phoebe@phoebehoward.com, for Waterman Industries
Web site: http://www.watermanusa.com/
