Document q33KrRbNGd9R3B6R7512ZJJpq

Construction and earth-moiing equipment utilizes Abex products for dependability and tong ii/e. Friction controls are widely used m brakes, transmissions and clutches. Fluidpower controls provide the power for lifting, digging, pushing and dumping, and our wear controls combat the grueling punishment of impact and abrasion Capital Expenditures Abex capital expenditures for 1969 are planned at approximately |19.4 million. Capital expenditures in 1968 amounted to $12,337,000, which was about the same as 1967. Employe Relations The company experienced an unusual year in its negotiations with labor unions. For the first time in several years, strikes and work stoppages occurred in a number of plants at various locations in the U.S. and Canada. About 1,630 employes in six different plants were on strike at various times, resulting in approximately 37,000 lost man-days of production. ` Federal Tkadb Commission Order Appealed In May 1964 the Federal Trade Commission filed a complaint against Abex, seeking to force a divestiture of The S.K. Wellman Company, a manufacturer of sintered metallic friction materials which Abex had acquired in 1963-