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KEYSTONE CEMENT COMPANY

 KEYSTONE CEMENT COMPANY
 BATH, Pa., April 20 /PRNewswire/ -- The following is being issued on


behalf of Keystone Cement Company:
 Keystone Cement Company has recycled waste fuels in its manufacturing process for 15 years. Public health, safety and the environment have always been the top priority at Keystone. Keystone recycles and reuses high BTU waste fuels solely to help reduce its costs of manufacturing cement.
 Since March 1991, DER has had an air quality monitor mounted on the George Wolf School located approximately one-half mile downwind of the Keystone plant. During the period in question, all readings from the school monitor have shown that the air quality is within the prescribed limits and has not been affected by Keystone. Recent press statements have indicated that Mark Carmon and Ed Schoener of the DER have stated that no unsafe emissions have been detected at either the plant or the school monitor. It has been demonstrated during DER-approved stack testing that, even while burning waste fuels at higher levels than those previously permitted, emissions from the cement kilns met not only the limits in the existing permits, but also met the new permitted emission limits that are more stringent than the EPA Boiler and Industrial Furnace Regulations (which are health-based limits).
 During the appeal preparation relating to our permits issued by DER in December 1991, the fact that Keystone may have exceeded certain permit conditions (but not emissions) was brought to the attention of
Keystone's parent company, Giant Group Ltd. (NYSE: GPO). Giant and


Keystone immediately and voluntarily contacted the DER and conducted an internal investigation with the assistance of outside counsel. Keystone advised the DER of irregularities in computer-generated daily operating reports. The primary function of the operating reports was to track cement production levels, and secondarily included estimated waste fuel usage as well as coal and other materials consumed. These reports were never required by the DER.
 Keystone offered to make employees available for the DER to interview as well as to provide any documents the DER might want to review. On Tuesday, March 31, prior to interviewing Keystone employees, DER ordered Keystone to suspend the use of waste fuels. Keystone has complied with the DER order.
 The actions taken by DER are not appropriate under the circumstances. Keystone officials voluntarily disclosed these matters to the DER, no threat to public health and safety or the environment has occurred, and we are cooperating fully with the investigation.
 During the past several months, Keystone has been upgrading its monitoring equipment. With our new state-of-the-art technology, the new equipment will eliminate the possibility of burning waste in excess of permit limits. Additionally, the company has installed new emissions monitoring equipment. The new equipment will further enhance the ability to continuously monitor emissions from the company's stacks, 24 hours per day.
 Because Keystone has always been sensitive to its social, economic and civic responsibilities to the community, Keystone is taking steps beyond those required in its permits to ensure the well-being of public health and the environment.
 While we want to be completely fair and frank, our media releases will be limited until the investigation of this matter is complete.
 James Longenbach, Keystone's chief operating officer, has been suspended and will not return to work at Keystone. The company is actively searching for his replacement.
 -0- 4/20/92
 /CONTACT: Terry Kinder, chairman and CEO of Keystone Cement, 215-837-2260/
 (GPO) CO: Keystone Cement Co.; The Giant Group ST: Pennsylvania IN: SU:


CH-KJ -- LA016 -- 0068 04/20/92 12:36 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
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