Alumax Mill Products to Consolidate Texarkana Plant Operations.ATLANTA--(BUSINESS WIRE)--Oct. 8, 1997--Alumax Mill Products, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of 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 ), today announced that it is taking steps to further improve operating efficiencies at its Texarkana, Texas, multi-purpose rolling mill. As a result, the company will reduce the labor force at the plant by fifteen percent, effective today. Sixty-four employees will be affected by the reduction. The company has arranged for outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. programs to assist hourly and salaried employees affected by this decision. Since 1993, the Texarkana plant has shifted from producing primarily can sheet to more specialized products for the distributor, automotive, building and construction and specialty markets. The changes in the Texarkana plant's product mix coupled with the need to further improve the plant's operating performance prompted the adjustment in the plant's labor force. Alumax Mill Products, Inc. participates in all segments of the non-heat-treatable aluminum sheet and cast plate markets. It is a preferred supplier to many markets, including automotive, distribution, consumer durables, building and construction, electrical and machinery. Alumax Inc. is a world leader in aluminum with assets of $3.3 billion and 1996 revenues of more than $3.1 billion. Alumax 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 markets. CONTACT: Alumax Thomas R. Hagley (Media) 404/846-4642 Fax: 404/846-4691 or R. Daniel Loh (Investors) 404/846-4752 Fax: 404/846-4691 |
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