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Letter to the Editor
Tuesday February 26
Keystone Automotive Industries, Inc. Establishes Credit Facility With Wells Fargo Bank
POMONA, Calif. -- Keystone Automotive Industries, Inc. has established a $35 million credit facility with Wells Fargo Bank, replacing an agreement with its previous lender.
John M. Palumbo, chief financial officer, said, "While we had an excellent relationship with our previous lender over the past several years, a change in this financial institution's business strategy necessitated forming a new banking association and we look forward to working with Wells Fargo."
Palumbo indicated that the credit facility would be utilized for acquisitions, greenfields, working capital and general corporate purposes.
Keystone Automotive Industries, Inc. distributes its products in the United States primarily to collision repair shops through its 113 distribution facilities, of which 22 serve as regional hubs.
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