Printer Friendly

MELAMINE CHEMICALS, INC. REPORTS COMMENCEMENT OF EXTENDED ANNUAL SHUT DOWN

 DONALDSONVILLE, La., Oct. 5 /PRNewswire/ -- Melamine Chemicals, Inc. (NASDAQ: MTWO), today announced that the company has begun its annual maintenance shut down.
 Fred Huber, president and chief executive officer, stated, "Our raw material supplier has begun their scheduled maintenance shut down which is expected to last from three to four weeks. We will use this period to deal with our own routine maintenance as well as to effect some desirable process and efficiency improvements. In addition, because of a build up of our inventory levels, the company is extending its shut down to as much as three months. While the length of the shut down will be dependent upon sales volume, it is expected to last at least eight weeks. The company's cash position is expected to improve during this period, but operating losses will increase because of the amount of fixed and semi-fixed costs."
 Melamine Chemicals, Inc., is engaged in the production of and marketing of melamine, a specialty chemical having numerous industrial and commercial applications. The company is actively engaged in the development of new melamine process and application technology. The company is one of only two producers of melamine in North America and one of the five largest producers worldwide.
 -0- 10/5/93
 /CONTACT: Ron Como & Associates, 212-227-3010/
 (MTWO)


CO: Melamine Chemicals, Inc. ST: Louisiana IN: CHM SU:

SH-MP -- NY041 -- 8865 10/05/93 12:35 EDT
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:Oct 5, 1993
Words:231
Previous Article:COLONIAL GROUP OF MUTUAL FUNDS NOTICE OF DISTRIBUTION DECLARATION
Next Article:PHOENIX NETWORK, INC. JOINS THE AMERICAN STOCK EXCHANGE; COMPANY PREVIOUSLY TRADED ON THE NASDAQ SYSTEM
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters