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Article: FORMICA EMERGES FROM CHAPTER 11\ HOUSEHOLD NAME HAS NEW OWNERS, LESS DEBT.(Business)
- Article from:
- The Cincinnati Post (Cincinnati, OH)
- Article date:
- June 12, 2004
- Author:
CopyrightCOPYRIGHT 2004 The Cincinnati Post. All rights reserved. Reproduced with the permission of Dialog LLC by Gale Group. 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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Byline: Jon Newberry Post staff reporter
Formica Corp. has emerged from Chapter 11 bankruptcy reorganization with new owners, streamlined operations, and just 30 percent of the debt it had 27 months ago.
Formica, a household name best known for its kitchen countertop material, is headquartered once again in the city of its 1912 founding. It recently relocated its corporate offices from Northern New Jersey to the Chemed Center downtown.
Although it has cut jobs here to increase efficiency, it still maintains its largest manufacturing plant in Evendale, where it also has research facilities and regional offices for its eastern and central sales ...