Anchor Glass Completes Plant Upgrade.Business Editors TAMPA, Fla.--(BUSINESS WIRE)--Nov. 18, 2003 Anchor Glass Container Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AGCC) announced today that it has completed an upgrade to its facility in Lawrenceburg, Indiana Lawrenceburg is a city in Dearborn County, Indiana, United States. The population was 4,685 at the 2000 census. The city is the county seat of Dearborn CountyGR6. Lawrenceburg is located in southeast Indiana, on the Ohio River west of Cincinnati. , ahead of schedule. The upgrade, which involved rebuilding the plant's furnace, should improve productivity, cut costs and enhance the plant's capability as a critical supplier to Anchor's premier spirits customers. "The improvements to our Lawrenceburg facility are part of our preparation for the strong order book we have in 2004," said Richard M. Deneau, president and chief executive officer. "During 2002-2003 we completed capital improvements at our plants in Elmira, New York Elmira is a city in Chemung County, New York, USA. It is the principal city of the 'Elmira, New York Metropolitan Statistical Area' which encompasses Chemung County, New York. The population was 30,940 at the 2000 census. It is the county seat of Chemung County. ; Henryetta, Oklahoma Henryetta is a city in Okmulgee County, Oklahoma, United States. The population was 6,096 at the 2000 census. Henryetta is notable as the high school hometown of NFL Hall of Fame quarterback Troy Aikman. ; and Warner Robins, Georgia Warner Robins is the 9th largest city in Georgia, located in Houston County, Georgia and Peach County. The city is in the Macon metropolitan area. As of the 2000 census, the city had a total population of 48,804. . During December, we expect to start the last of our furnace rebuilds at our plant in Salem, New Jersey Salem is a City in Salem County, New Jersey, United States. As of the United States 2000 Census, the city population was 5,857. It is the county seat of Salem CountyGR6. The name Salem is related to the Hebrew word shalom, meaning peace. , and finish around year end. "We are seeing initial productivity benefits from our capital improvement projects," Deneau said. "With the bulk of our betterment capital projects now behind us, we expect those benefits will accelerate next year, and we expect our capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. will return to normal levels at around $55 million annually." The Lawrenceburg plant, which began the upgrade on October 19, 2003, has approximately 250 employees, and its primary product is liquor containers. The furnace in Lawrenceburg was last rebuilt 14 years ago. Some of the infrastructure, including the crown of the furnace, did not need to be replaced, which helped speed the project along. Anchor Glass Container Corporation is the third largest manufacturer of glass containers in the United States. It has nine strategically located facilities where it produces a diverse line of flint (clear), amber, green and other colored glass containers for the beer, beverage, food, liquor and flavored alcoholic beverage markets. The above information may contain "forward-looking statements." By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that, although we believe these statements to be reasonable, they should not be relied upon. |
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