19 October 2001
19 October 2001
Continued downturn in market conditions has necessitated further curtailment in production activity at Advanced Glassfiber Yarns’ manufacturing plants in Aiken, South Carolina and Huntingdon, Pennsylvania.
The Aiken Plant previously placed over 200 employees on furlough. These additional production curtailments will result in further workforce reductions bringing the total number of employees on furlough to 360. The Huntingdon, Pennsylvania and South Hill, Virginia plants have previously made curtailmare used to reinforce printed circuit boards. The electronics market is suffering the worst downturn in recent history and is forecasted to remain at the current demand levels throughout the first half of 2002. In addition, the tragic events of September 11, 2001 have created uncertainties in all markets served by AGY.
Advanced Glassfiber Yarns, headquartered in Aiken, South Carolina, is one of the largest suppliers of glass fiber yarns used in a variety of electronic, industrial, construction and specialty applications. AGY is a joint venture of Porcher Industries and Owens Corning.
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