Hearthlist Digest #365 - Thursday, October 21, 1999
 
Re:CFM Strike and Monessen
  by "Tex" <[email protected]>
Monessen Press Release
  by "Craig Issod" <[email protected]>
 

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Subject: Re:CFM Strike and Monessen
From: "Tex" <[email protected]>
Date: Thu, 21 Oct 1999 12:27:11 -0500
 
Re: CFM on strike
 
From the Globe and Mail, Oct. 19, 1999
(one of Toronto / Canada's main business papers)
Workers at CFM Majestic Inc.'s Missisauga plant are on strike. Contract
talks with representatives of 450 United Steelworkers of America, local
4970, have been underway since July, the company said, adding it doesn't
expect to have any difficulties meeting demand from customers "for the
foreseeable future". The company expects to use replacement workers to
maintain production. The fireplace maker also announced yesterday it
won't proceed with the acquisition of Monessen Hearth Systems, Kentucky
because it wasn't satisfied with the results of due diligence
investigations.
 
 
 
 

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Subject: Monessen Press Release
From: "Craig Issod" <[email protected]>
Date: Thu, 21 Oct 1999 12:32:40 -0500
 
Monessen Hearth Systems Decides to Remain Independent
 
Contact: Grover Mollineaux
1-800-867-04540 x157
 
Oct. 19,1999
 
After significan evaluation and deliberation, Monessen announced today =
that
it has decided to end negotiations with CFM Majestic for the purchase of
Monessen. Although Monesses believes the combination of Monessen and CFM
would have brought many strengths to the market place, in the final
analysis Monessen believes that their customers would be better served if
the company remains independent.
 
Monessen Hearth Systems is located in Paris, KY and provides a complete
assortment of high quality vented and vent-free decorative gas hearth
products to the traditional hearth and builder markets.