Wahlco Environmental Systems Inc.: The Santa Ana...

Wahlco Environmental Systems Inc.: The Santa Ana designer and manufacturer of air pollution control and power efficiency equipment said Tuesday that it is continuing to negotiate for a new credit facility of up to $5 million to meet short-term working capital needs. Wahlco said the credit facility would be conditioned upon a third party being granted options by the company’s 81% shareholder, Pacific Diversified Capital Co., to purchase all of Wahlco’s debt held by Pacific at a substantial discount from its face value and all of Wahlco’s shares owned by Pacific at a fraction of book value.