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Industry: Email Alert RSS FeedSterling posts $6.9 million in 3Q profit; denies Diassi claims. (CNI Report).(Sterling Chemicals Inc., Frank Diassi)(Brief Article)(Statistical Data Included)
Chemical Market Reporter, August, 2002 by Taylor, Gary
STERLING Chemicals Inc. has posted net income of $6.9 million in its fiscal third quarter on an increase in styrene sales. The company also stated in a filing with the Securities and Exchange Commission (SEC) that it denies certain claims by former CEO Frank Diassi.
Sterling says it continues to operate its Texas City, Tex., plant with salaried personnel and contract workers following a union dispute that has left union workers locked out of the facility. "Since the lockout began [June 7], the Texas City facility has been operated without interruption or loss of production by our salaried personnel and contract workers," according to Sterling.
Sterling is in the midst of reorganizing under Chapter 11 of the US bankruptcy code. For the quarter...
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