Document bOazZ7RrpG1oY3dd7eaJNdmOy

CONFIDQCTIAL J-M Manufacturing Company, Inc. >- :i- - NEWS RELEASE Bulletin J-M A/C Pipe C .o announced today its decision to cease PRODUCTION OF ASBESTOS CEMENT PIPE AT ITS DENISON, TEXAS FACILITY IN LATE MAY, 1988. The PLANT WILL CONTINUE TO OPERATE AT ITS CURRENT LEVEL FOR SEVERAL MONTHS TO ASSURE OUR CUSTOMERS AND OUR EMPLOYEES AN ORDERLY TERMINATION OF THE J-M A/C PIPE BUSINESS. The decision to cease production of A/C ptfe by J-ft is a RESULT OF DECLINING MARKET CONDITIONS. J-fl's ASBESTOS CEMENT PIPE PRODUCTION HAS BEEN REDUCED BY OVER 75 PERCENT IN THE PAST FEW YEARS AND IS CONTINUING TO DECLINE. The ASBESTOS CEMENT PIPE OPERATION WAS FORMERLY OWNED BY Johns"Maryille and began operation in 1958. During Johns-Manyille bankruptcy proceedings in 1982, the Dentson PLANT AND SEVEN OTHER PIPE MANUFACTURING FACILITIES WERE sold to J-M /Manufacturing Co., Inc. The asbestos cement closure at Denison will not affect the PVC pipe operation co-located at the Denison plant. The reduced operation at Denison will affect approximately ONE-half OF THE 180 PEOPLE NOW EMPLOYED. JMM 00000334 SC-JMM-0039