MONARCH RUBBER BEING SOLD

(02/17/2005)

Monarch Rubber sale anticipated By David Hedges, Publisher Times Record-Roane County Reporter The Monarch Rubber Co. plant in Spencer is expected to be sold in the near future, plant officials confirmed this week. "The employees have been aware of it for some time," said local plant manager Jerry Greathouse. "We are just waiting for some of the details to be worked out." Greathouse identified the buyer as Armacell LLC, which has its North American headquarters in Mebane, N.C. Greathouse called the sale a positive development for the approximately 70 employees at the local plant. He said Armacell is interested in pursuing Monarch's plans for expansion of the local facility. "To my understanding, they are very much interested in purchasing the school board property and expanding the plant," he said. Read more www.thetimesrecord.net

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