Pro Coaters' revolving loan to City of Augusta paid in process
The City of Augusta has no more active revolving loans.
Pro Coaters had been struggling to stay current with a loan they had received from the City of Augusta to locate in the Augusta Industrial Park.
Those struggles ended when the note was paid off after the company sold out to Global Parts.
Troy Palmer said the new acquisition fit into Global Parts’ plans.
“This will compliment what we do and allow us to expand what we are able to do,” Palmer said. He said some key employees from Pro Coaters had stayed on when the company was dissolved and brought under the Global Parts Aircraft Manufacturing umbrella.
With the support staff that already exists at Global Parts, they will be able to further capitalize on Pro Coaters former business relationships and expand into new markets.
The acquisition could also be used alongside the other recent expansion at Global Parts. The large new state-of-the-art machine shop is now certified and has signed contracts with Cessna and other major Wichita businesses.
“We didn’t want to overpromise,” Palmer said. “We are adding staff and signing contracts all the time.”