US Fed News
May 8, 2008 Thursday 12:13 AM EST

PETE PETERS TO RECEIVE HONORARY DOCTORATE

FRESNO, Calif.

California State University Fresno issued the following press release:

The California State University and California State University,
Fresno will confer an honorary doctoral degree – the CSU’s highest
commendation – on Fresno businessman and philanthropist Pete P. Peters
at Fresno State’s Commencement on May 17.

For his unwavering commitment to bettering the region, Peters will
receive the honorary degree of Doctor of Humane Letters.

"Pete P. Peters is one of the great visionaries of Central
California," said Fresno State President John D. Welty, who nominated
Peters. "At Fresno State and elsewhere, Mr. Peters has helped our
region in many ways.

"He has provided guidance on a range of issues through active board
membership, donations for building programs that have inspired others
to give and scholarships in a number of disciplines that have launched
our graduates into careers of service in the region and elsewhere,"
Welty said.

The youngest son of Armenian immigrants, Peters longed to attend
college.

Instead, he and his brother, Leon S. Peters, worked hard and gained
reputations as honest businessmen who were generous community
benefactors.

Pete P. Peters joined Valley Foundry and Machine Works in 1939,
shortly after his brother bought the business, which manufactured wine
grape crushers. During World War II, however, the business made ship
winches and valves for the armed forces. The business returned to
winemaking equipment in peacetime.

Valley Foundry was sold to Ametek (NYSE: AME), where Peters continued
his career as vice president.

The Peters brothers decided to share the gains of their success with
the region through charitable foundations. The Pete P. Peters
Foundation is guided by the words of Peters’ father: "Give back to the
community." Leon S.

Peters was posthumously awarded the honorary degree of Doctor of
Humane Letters by the CSU and Fresno State in 1997.

Pete Peters believes quality education and health care are integral
components of a great community. The Peters families were major donors
to Fresno-based Community Medical Centers and to Fresno State.

Many other organizations have been touched by Peters’ generosity,
including the San Joaquin River Parkway and Conservation Trust, Valley
Public Television, the San Joaquin College of Law and the Boys and
Girls Club.

Since the early 1980s, the foundation has provided numerous gifts to
Fresno State through the Pete P. Peters Nursing, Business and
Viticulture scholarships and the Pete P. Peters Endowment in Armenian
Studies.

Peters also supports the President’s Fund, Ag One Foundation, the
Henry Madden Library, the Bulldog Foundation, the Leon S. Peters
Honors Scholars and the Business Associates Program.

After Leon Peters died, his brother continued the family’s giving
legacy. In 1999, the Leon S. Peters and Pete P. Peters foundations
provided the first private gift of $1.2 million to the Save Mart
Center capital campaign. This gift created the Leon S. and Pete
P. Peters Educational Center, a 300-seat classroom auditorium within
the Student Recreation Center adjacent to the Save Mart Center.