ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, November 9, 1996 TAG: 9611110095
SECTION: CURRENT PAGE: NRV-8 EDITION: NEW RIVER VALLEY
DATELINE: RIPPLEMEAD
SOURCE: KATHY LOAN STAFF WRITER
The parent company of APG Lime has reached an agreement in principle to buy Eastern Ridge Lime, a neighboring lime plant on Virginia 684 in Giles County.
The deal is expected to close by the end of the year. Local company officials would not comment beyond an Oct. 31 news release:
"Acquiring the Eastern Ridge facility will enable us to capitalize on our management expertise already present in the Southeastern United States and to achieve synergies with our nearby Kimballton, Va., plant," said John Spegele, president and chief operating officer of APG Lime Corp.
"Since the limestone reserves of Eastern Ridge are adjacent to our Kimballton reserves, we will be able to better plan the extraction of limestone for both operations. The acquisition will mean effective market coverage of the Southeastern United States and a more dependable supply of lime for our customers," Spegele said.
Joe D. Shortt in APG Lime's Roanoke office said Thursday that it was premature to speculate on any effect on employment or to make other comments until the deal is finalized.
A.P. Green Industries has headquarters in Mexico, Mo. It mines, processes, manufactures and distributes minerals and mineral-based products in the United States and international markets. APG employs about 100 at its Kimballton mine below Butt Mountain and beside Stoney Creek northeast of Pearisburg. The mine has been open since 1948.
APG joined representation by United Mine Workers in September 1995, but local union President Steve Parcell said negotiation on a new contract both for representation with UMW and with APG management is at a standstill.
Eastern Ridge Lime is an affiliate of Mississippi Lime Co. and is owned by the North American Lime Co. The company employs more than 100 people and has been in operation since 1945.
APG was cleared earlier this year of any fault in a September 1993 fatal mining accident that killed two workers. The miners died when a slab of rock sheared away from the ceiling and crushed them as they operated a twin-boom jumbo drill.
In July 1994, a rock fall at Eastern Ridge Lime Co. killed a 37-year-old Blacksburg man. The company contested three safety citations and a $90,000 fine in connection with the accident and the appeal is still being reviewed by an administrative law judge. Before the July fall, the mine had claimed one other life in 1969.
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