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Article: Lone Star files for Chapter 11, citing dumping. (Lone Star Industries)
- Article from:
- Fairfield County Business Journal
- Article date:
- December 17, 1990
- Author:
CopyrightCOPYRIGHT 1990 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Lone Star files for Chapter 11, citing dumping
Lone Star Industries of Stamford, one of the largest cement suppliers in the United States, filed for bankruptcy last week, citing the economic downturn and the unfair business practices of its foreign competitors as the primary reasons for the company's financial problems.
"Two-thirds of the cement industry (in the United States) has passed into the hands of foreign investors. Lone Star's foreign competitors sell cement in this country for less than they do in their own countries, a practice commonly known as dumping," the company said in a prepared statement.
Lone Star and 11 of its subsidiaries ...