Printer Friendly

PITT-DES MOINES, INC. ISSUES STATEMENT

 PITTSBURGH, Feb. 2 /PRNewswire/ -- Pitt-Des Moines, Inc. (AMEX: PDM) today issued the following statement.
 As previously announced, in May 1984, Washington Public Power Supply System ("WPPSS") filed a complaint against the company and its surety in the United States District Court for the Eastern District of Washington. Various claims in connection with retrofit work performed by the company at Nuclear Unit No. 2, Hanford, Wash., were alleged. Four alternative damages theories were presented, ranging in amounts from $53 million to $86 million.
 As also announced earlier, after a trial in June 1986, and a jury verdict favorable to the company, the court entered final judgment dismissing all of WPPSS' claims against the company. On appeal, the United States Court of Appeals affirmed that the company was not liable for breach of warranties, but remanded the case to the district court for a determination of whether WPPSS had released its claims against the company for breach of contract.
 On May 1, 1991, the district court filed an order dismissing all of WPPSS' claims against the company. WPPSS appealed that decision to the United States Court of Appeals.
 In an order filed Jan. 26, 1993, the Court of Appeals affirmed the district court in part, but reversed and remanded the case for determination of whether WPPSS has released its claims against the company for breach of contract.
 Pitt-Des Moines Inc. (PDM)(R) and its subsidiaries operate four basic business units: Engineered Construction; CVI, Inc.; Steel Construction; and Steel Service Centers. PDM provides a wide range of custom engineered products, structures and facilities for commercial, industrial, municipal and governmental customers in addition to processing and distributing a general line of carbon steel products.
 PDM has sales offices and/or plant facilities at the following locations: Atlanta; Cedar Rapids, Iowa; Glen Ellyn, Ill.; Melrose Park, Ill.; Wausau, Wis.; Hilliard, Ohio; Costa Mesa, Calif.; Des Moines, Iowa; Clive, Iowa; Warren, Pa.; Provo, Utah; Fresno, Calif.; Houston; Norristown, N.J.; Pittsburgh; Sacramento, Calif.; Santa Clara, Calif.; Spanish Fork, Utah; Sparks, Nev.; Stockton, Calif.; and Tualatin, Ore.
 -0- 2/2/93
 /CONTACT: T.R. Lloyd, general counsel and secretary for Pitt-Des Moines, 412-331-3000/
 (PDM)


CO: Pitt-Des Moines, Inc.; Washington Public Power Supply System ST: Pennsylvania, Washington IN: MNG SU:

DM-KC -- PG014 -- 2122 02/02/93 17:58 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 2, 1993
Words:381
Previous Article:NEW YORK STOCK EXCHANGE CLOSING, TUESDAY, FEB. 2 /PRN/
Next Article:CORESTATES TO SPONSOR SECOND ANNUAL 'BOWLING IS FUN' NIGHT WITH THE SPECIAL OLYMPICS
Topics:


Related Articles
PITT-DES MOINES ANNOUNCES APPOINTMENT
PITT-DES MOINES DECLARES DIVIDEND
PITT-DES MOINES, INC. DECLARES QUARTERLY DIVIDEND
PITT-DES MOINES, INC. INTENDS TO SELL CVI INCORPORATED, A SUBSIDIARY
PITT-DES MOINES, INC. ANNOUNCES INCREASED THIRD QUARTER RESULTS
PITT-DES MOINES, INC. DECLARES DIVIDEND
PITT-DES MOINES ANNOUNCES RESIGNATION
PITT-DES MOINES APPOINTS ROBINSON A DIRECTOR
Pitt-Des Moines, Inc. Pleads Not Guilty To Indictment
Pitt-Des Moines, Inc. Declares Dividend

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters