Volume 38, Issue 2, February 2003

NewsNow

ANSI Z97 Ballots Counted But No Results Yet
The ANSI Z97 committee Class C ballots were tabulated recently, but a decision has not yet been made concerning Class C. USGlass magazine has learned that of the ballots, 17 were affirmative to remove Class C, 11 were negative to keep the document with Class C and 11 abstained. There was also one no vote.

USGlass magazine also learned that ANSI Z97 chairperson Valerie Block has questioned ANSI regarding the next steps the committee will need to make concerning whether Class C will remain or be removed.

According to Block, no decision has yet been made regarding the ballot. The ballot will be discussed at the next ANSI Z97 committee meeting to be held March 3 in Baltimore. An affirmative vote to remove Class C was a vite to remove the exemption for wired glass, thereby eliminating many of the places wired glass can be used.

Kawneer and Alumax for Sale
In an effort to focus on its core assets, Alcoa has decided to divest certain business, including the Kawneer Co. Inc. of Norcross, Ga.

“The company will remain intact with no changes planned,” said William O. Cralley, Kawneer president. “We value our customers’ success and regardless of ownership, our commitment to serving our customers is paramount.”

According to a news release issued by Kawneer, the company will continue operating as an Alcoa business unit until new ownership is established.

According to sources at the company who prefer to remain anonymous, Alcoa has also put a number of Arkansas facilities up for sale, including Alumax. Sources told us at this time interest in the company is high from potential buyers.

Pilkington plc Repaying 193 Million Pound Debt
On January 9, 2003, London’s Evening Standard reported that United Kingdom-based Pilkington plc was presently faced with a 200 million pound debt due to preference shares issued by its Channel Island subsidiary. According to Pilkington, the debt is 193 million pounds, and relates to preference shares up for redemption after March 4, 2003.

“The shares are a legacy from the past,” said Charlotte Hepburne-Scott with the Finsbury Group, Pilkington’s financial public relations agency. “Pilkington has now chosen to redeem them because they can get the debt cheaper elsewhere … Pilkington has the credit lines in place to repay the shares [and is presently] finalizing receipt of circa 200 million pounds in additional credit to replenish the funds it will use to redeem the shares. They have committed facilities from existing banks for this sum.” 

USG

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