Alumax Announces Riverside (Calif.) Plant Closure.NORCROSS, Ga.--(BUSINESS WIRE)--Feb. 18, 1997--Alumax Inc. (NYSE NYSE See: New York Stock Exchange :AMX AMX American Motors Experimental AMX Aeromexico Aerovias de Mexico (ICAO code) AMX Air Mobility Express AMX Amberjacks (FAO fish species code) AMX Alabama Motor eXpress ; Toronto:AXI AXI Automated X-Ray Inspection (electronics) AXI Association Xpertise Inc (Calgary, AB, Canada) AXI Ada to X-Window System Interface ) has announced that it will close its plate plant in Riverside, California, by late April 1997. Closure of the plant was based on a corporate decision to consolidate plate operations and to reallocate Verb 1. reallocate - allocate, distribute, or apportion anew; "Congressional seats are reapportioned on the basis of census data" reapportion allocate, apportion - distribute according to a plan or set apart for a special purpose; "I am allocating a loaf of resources. Customers of the plant will be supplied by ample inventories and by existing Alumax facilities. Alumax cast plate is sold through distributors for use in the tool and die, aircraft and machinery markets. Approximately 95 people are employed at the plant. The company has in place programs and agreements for closing the plant that will assist hourly and salaried employees affected by this decision. Alumax announced closure of its aluminum sheet operation at this facility on February 17, 1994, as part of a corporate restructuring of the sheet business. Approximately 100,000 square feet of manufacturing and administration office buildings on 27 acres will be sold. The plate milling and casting equipment will be retained by the company. Alumax is a world leader in aluminum with assets of $3.3 billion and 1996 revenues of more than $3.1 billion. The company produces and markets primary aluminum ingot ingot Mass of metal cast into a size and shape such as a bar, plate, or sheet convenient to store, transport, and work into a semifinished or finished product. The term also refers to a mold in which metal is so cast. , billet and slab and is a major fabricator of value-added aluminum products for the transportation, distributor, building and construction, packaging and consumer durables Consumer durables Consumer products that are expected to last three years or more, such as an automobile or a home appliance. consumer durables See durable goods. markets. CONTACT: Alumax Thomas R. Hagley (Media) 770/246-6642 Fax: 770/246-6691 R. Daniel Loh (Investors) 770/246-6752 Fax: 770/246-6691 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion