![]() The plant, with an annual capacity of 20 million pounds, employs about 100 people. C., indefinitely because of the depressed polyester yarn market. said it was closing down its polyester production facility in Asheboro, N. Production is expected to begin in August 1978. The mill, which will have an annual production capacity of 3.5 million tons, will be built at Siderurgica's main Volta Redonda works. Mitsubishi's Brazilian subsidiary, CBC Industrias Pesedas S.A., and Ishikawajima do Brasil Estaleiros S.A., a joint venture of Ishikawajima‐Harima in Brazil. The group is headed by the Ishikawajima‐Harima Heavy Industries Company and includes Mitsubishi Heavy Industries Ltd. It said a contract would be signed shortly. Heavy losses in 19 reduced Geico's surplus from $103 million to $33.1 million, as of May 30.Ī group of Japanese companies in heavy industries announced receipt of a letter of intent from Companhia Siderurgica National, the Brazilian Government steel company, for construction of a hot strip steel mill valued at about $65 million. Lemmon, whose association helped in organizing thg agreement, expressed confidence that the reinsurance move and the new stock issue authorized by Geico shareholders would solve the company's problems. The agreement, however, is to become effective when Geico succeeds, in selling at least $50 million of additional shares‐before Dec. Under the agreement, announced Friday by Maximilian Wallach, the District of Columbia Insurance Superintendent, 27 casualty insurance companies will take over 25 percent of Geico's insurance liabilities. These are expected to be producing five million tons of coal annually by 1980.Ī reinsurance agreement that is part of a plan to keep the ailing Government Employees Insurance Company solvent was praised as a constructive measure by Vestal Lemmon, the president of the National Association of Independent Insurers. The Denver company also announced plans for another joint venture with Kiewit for development of Rocky Mountain's Twin Creek and South Aystack coal properties near Kemmerer in southwest Wyoming. Rocky Mountain Energy, a subsidiary of the Union Pacific Corporation, negotiated the agreement on behalf of the Black Butte Coal Company, which is jointly operated by subsidiaries of Rocky Mountain Energy and Peter Kiewit Sons Inc. The purchasing company was not identified. It does not store any personal data.The Rocky Mountain Energy Company of Denver announced yesterday that it had signed a $1 billion, 20‐year coal sales contract with “a major Midwest utility.” The agreement, which includes appropriate price escalation clauses, provides for delivery of three million tons of coal annually, beginning in 1979, from a mine near Rock Springs, Wyo. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. ![]() The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". ![]() The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly.
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