Printer Friendly

HOLNAM WILL CLOSE ITS PLANT IN OKAY, ARK.

 HOLNAM WILL CLOSE ITS PLANT IN OKAY, ARK.
 DUNDEE, Mich., March 6 /PRNewswire/ -- Holnam Inc (NYSE: HLN) of


Dundee, announced today that it has decided to close its cement production plant in Okay, Ark. The company had previously announced it was considering this option following a 1991 study of Holnam's strategic assets.
 Two key factors drove the direction of the final decision. The first is the overcapacity of cement in the Okay market region. The second is an effort to reduce costs within the company.
 "It is difficult to make a decision like this, especially when realizing the disruptive effect it will have on the employees," said Marc von Wyss, president and CEO of Holnam. "We will make every effort for the transition to be a smooth one," he added.
 No timetable has been established for the closure, but the company will provide adequate notification as the workforce is reduced and production ceases.
 The plant was originally built in 1929, and was expanded in 1957.
 It was formerly owned by Ideal Basic Industries, which merged into Holnam in March, 1990. Eighty employees currently work there.
 Holnam Inc is a leading producer of cement in the United States. The company is a subsidiary of Holderbank Financiere Glaris Ltd., of Switzerland, one of the world's largest manufacturers of cement and allied construction materials.
 -0- 3/6/92
 /CONTACT: Thomas A. Chizmadia, vice president-corporate communications of Holnam, 313-529-2411, ext. 2294, or Kathy B. Liebmann of Gavin Anderson & Company, 212-921-1060, for Holnam/
 (HLN) CO: Holnam Inc. ST: Michigan, Arkansas IN: SU:


SH -- NY052 -- 5972 03/06/92 15:55 EST
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:Mar 6, 1992
Words:266
Previous Article:BRITISH COLUMBIA TO FIGHT UNFAIR U.S. RULING
Next Article:DELAWARE & HUDSON RAILWAY EXERCISES OPTION TO PURCHASE CONRAIL'S SOUTHERN TIER LINE
Topics:


Related Articles
HOLNAM REPORTS 1991 RESULTS; ANNOUNCES ADDITIONAL FINANCING FROM HOLDERBANK
HOLNAM INC REPORTS FIRST QUARTER RESULTS
HOLNAM INC. REPORTS SECOND-QUARTER RESULTS
HOLNAM INC. REPORTS THIRD QUARTER RESULTS
HOLNAM REPORTS 1992 RESULTS
SAFETY-KLEEN ANNOUNCES TRANSACTION TO MANAGE TWO ADDITIONAL WASTE-DERIVED FUEL FACILITIES
Lafarge in Talks to Acquire Seattle Cement Plant
TXI Announces New Licensing Agreement for CemStar(SM) Process.
EPA Cites Holnam For Air Pollution.

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