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CALMAT ANNOUNCES $9.9 MILLION NON-CASH CHARGE TO EARNINGS

 LOS ANGELES, Dec. 23 /PRNewswire/ -- CalMat Co. (NYSE: CZM) announced today that it is recording a $9.9 million non-cash charge to earnings in the fourth quarter of 1992. After taxes, the charge amounts to $5.9 million, or $0.25 per share.
 Included in the pre-tax charge is a $4.6 million write-off of excess plant and equipment from consolidation of a number of smaller production facilities. Also included is $5.3 million to write off accumulated costs incurred in connection with seeking permits for additional aggregates sources and for other valuation allowances. These costs relate to projects where completion is uncertain in the near term because of economic conditions and increased regulation. Management believes the company has adequate aggregates reserves and productive capacity to serve indicated demand in the company's markets.
 CalMat Co. is one of the largest U.S. producers of construction aggregates, asphalt, and ready mixed concrete. Its operations are concentrated in California, Arizona and New Mexico.
 -0- 12/23/92
 /CONTACT: Ronald C. Hadfield, executive VP-finance and administration of CalMat, 213-258-2777/
 (CZM)


CO: CalMat Co. ST: California IN: CST SU:

BP-LS -- LA027 -- 9750 12/23/92 17:46 EST
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Publication:PR Newswire
Date:Dec 23, 1992
Words:194
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