Thursday, August 01, 2002

Tristate Summary

Nuclear plant to cut 140 jobs

        USEC Inc., the world's largest processor of enriched uranium for nuclear power plants, said Wednesday it will eliminate 140 jobs at its Portsmouth, Ohio, plant as it consolidates some functions.

        Shipping and transfer operations are being consolidated at the company's Paducah, Ky., plant, USEC said in a release. In February, the company said it would eliminate as many as 440 jobs at the Ohio plant. Company officials couldn't be reached for comment.

Town's only bank is out of business

        After nearly 110 years, the only bank in tiny Alger, Ohio, went out of business Wednesday.

        Liberty National Bank, which most recently owned the bank, announced in April it would close its branch in the Hardin County village of 864 people.

        Liberty president Bill Carr said the branch was closed because its service area overlapped with Liberty's branch in nearby Ada. Alger is about 80 miles northwest of Columbus.

Weyerhaeuser to shut Ky. unit

        FEDERAL WAY, Wash. - Weyerhaeuser Co. will shutter its medium containerboard machine in Hawesville, Ky., within the next 60 days, eliminating 142 positions.

        Weyerhaeuser said the closure is part of its integration with Willamette Industries, acquired in March after a heated struggle spanning over a year.

        Fine paper and pulp operations in Hawesville won't be affected, but the decision to close the machine will mean the loss of 200,000 tons in capacity, Weyerhaeuser said.

        Weyerhaeuser said affected workers will be given job-transfer opportunities, outplacement services and counseling.

        Shares of Weyerhaeuser closed Tuesday at $58.33, down $1.92, or 3.2 percent, on the New York Stock Exchange.


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