Printer Friendly

REYNOLDS METALS ANNOUNCES BOND ISSUE, REVISES OUTLOOK

 REYNOLDS METALS ANNOUNCES BOND ISSUE, REVISES OUTLOOK
 RICHMOND, Va., Aug. 21 /PRNewswire/ -- Reynolds Metals Company


(NYSE: RLM) today announced a $43 million bond issue to finance a new solid waste disposal facility in Arkansas. In connection with the issue, which is scheduled to close August 26, the company disclosed lower expectations for the second half of 1992.
 Reynolds said that, while it will be profitable, the improvement it had anticipated in the third quarter has not materialized due to continuing adverse business conditions. The company stated that the weaker than expected economic recovery and the worldwide oversupply of aluminum have not only kept ingot prices depressed but have caused deterioration of certain fabricated products prices.
 The tax-exempt bonds are being issued by Clark County, Ark. to pay a portion of the cost of a solid waste disposal facility for the thermal treatment and disposal of spent potliner located in the county. The facility is scheduled to start up in the first half of 1993.
 -0- 8/21/92
 /CONTACT: Lou Anne J. Nabhan, Reynolds Metals Company, 804-281-2965 (home) 804-359-2986/
 (RLM) CO: Reynolds Metals Company ST: Virginia IN: MNG SU:


SB -- CH002 -- 2193 08/21/92 14:06 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 21, 1992
Words:198
Previous Article:AVATAR HOLDINGS EXPLORES POSSIBLE SALES OF NON-CORE UTILITY ASSETS
Next Article:KATHY LINGG NAMED SENIOR VICE PRESIDENT FOR NETWORK TELEVISION DIVISION OF PARAMOUNT PICTURES
Topics:


Related Articles
REYNOLDS METALS, MITSUBISHI AND SUMITOMO TO PURSUE DEVELOPMENT OF ALUMINUM AUTOMOTIVE APPLICATIONS
REYNOLDS METALS DIVIDEND REDUCED
REYNOLDS METALS RELEASES 1993 ANNUAL REPORT; NEW READER-FRIENDLY FORMAT INTRODUCED
REYNOLDS METALS COMPANY REPORTS FIRST QUARTER RESULTS
REYNOLDS METALS RAISES QUARTERLY DIVIDEND
Reynolds Metals to Sell Alabama Assets to Alcoa
Reynolds Metals and Kaiser Terminate McCook Negotiations, Bellwood Extrusion Negotiations to Continue
Reynolds Metals Completes Sale of El Campo, Texas Extrusion Plant to Tredegar Subsidiary
McCook Metals Reacts to Department of Justice Request for Information Re Reynolds/Alcoa Merger.

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