Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, March 17, 1994 TAG: 9403210190
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Chesapeake Corp., a Richmond-based forest products manufacturer, said no more than one person at its Roanoke facility might ne affected by a voluntary retirement program announced Wednesday.
Tom Davidson, the company's manager of communications and training, said most of the 55 people to whom the offer was extended are employed at its main manufacturing facility at West Point, near Williamsburg.
To be eligible for early retirement in September, a worker must be a salaried employee, be 55 years or older and have at least 10 years of experience with the company, Davidson said.
Only one salaried employee is based at the company's recycling plant in Roanoke, Davidson said. He said he was unable to determine whether that employee met the other eligibility criteria.
Chesapeake Corp. expects to take a charge of about $4 million in the second quarter for the voluntary program. Those who choose to retire would leave the company Sept. 1.
Thomas Blackburn, president of the company, said the purpose of the program is to reduce operating costs.
"Our global competitors keep getting tougher," Blackburn said. "We must remain competitive."
- Staff report
B IUE workers to join picket line
Three locals from the Roanoke-area International Union of Electrical Workers plan to stand in tonight for their Lynchburg counterparts on the picket line at Aerofin Corp.
IUE members from GE Drive Systems in Salem, and Alcatel Telecommunications Cable and ITT Corp. in Roanoke County will walk the picket line in Lynchburg while Aerofin employees hold a support dinner for their families.
"A strike can be lost within the family," said Frank Rothweiler, president of the IUE local 163 in Lynchburg.
About 130 Aerofin workers went on strike midnight Saturday. The union considers the wage and benefit package the company ofered for the next four years to be unacceptable.
- Staff report
Wolverine parent reportws sales
CINCINNATI - Eagle-Picher Industries, Cincinnati parent in Blacksburg, said Wednesday that sales for the first quarter ended Feb. 28, were $177.8 million, operating income was to $13.8 million or $ 1per share. In the first quarter of 1993, sales were $147.0 million, operating income was $6.7 million or 61 cents per share.
- Staff reports
by CNB