The HWH Groups Arranges Debt Finance, Site Selection and NMTC Finance for Western Industries
$13 Million Acquisition, Rehabilitation, and Equipping of Facility in Oklahoma City
OKLAHOMA CITY, December 19, 2018 (Newswire.com) - The HWH Group, a full-service site selection and consulting firm, announced Western Industries Corp.’s facility acquisition in Oklahoma City. HWH assisted the company with site selection, debt finance and the federal New Markets Tax Credit Program.
Western will acquire a shuttered manufacturing facility and will rehabilitate and equip it to state-of-the-art standards. The facility has been vacant since 2014 when 165 employees were laid off by the prior owner. HWH conducted a multi-state Site Selection process for a Local & State incentive package. Craig Hughes, HWH Vice President of Site Selection, said, “The State and City provided support to and is committed to assisting Western and the 90 permanent jobs created when the facility becomes operational.”
In addition to the State and Local incentives, the NMTC Program played a key role in funding the Project and providing a much-needed benefit to Western Industries.
Robbie Ruminer, President, HWH Group
Robbie Ruminer, HWH President said, “In addition to the State and Local incentives, the NMTC Program played a key role in funding the Project and providing a much-needed benefit to Western Industries.”
Western Industries is a family-owned specialty packaging company, founded in 1973, that designs and manufactures customized, protective packaging for very fragile and complex equipment for industrial, consumer and specialty applications, including technology, medical diagnostics and avionics, among others.
HWH also arranged for a term loan and a line of credit for the company. Steven Hattier, HWH Vice President of Finance, said, “We were happy to serve Western with our platform of services, including debt, site selection and NMTC finance.”
Western is committed to protecting the environment and minimizing any impacts by using recycled and re-purposed materials with a potentially endless life cycle. Western is well known as a very active corporate citizenship through programs like “WIC Pack Gives Back” and for partnering with non-profits to provide jobs to the visually impaired, to people with disabilities and to prior incarcerated people.
Contact the HWH Group:
More information can be found at www.thehwhgroup.com.
Robbie Ruminer: rruminer@thehwhgroup.com
Steven Hattier: shattier@thehwhgroup.com
Craig Hughes: chughes@thehwhgroup.com
Source: HWH
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