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Article: Alumax Boosts Pretax Earnings Performance Improvement Target to $175 Million.
- Article from:
- Business Wire
- Article date:
- April 2, 1998
CopyrightCOPYRIGHT 1998 Business Wire. 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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ATLANTA--(BUSINESS WIRE)--April 2, 1998--Alumax Inc. (NYSE: AMX; Toronto: AXI) Chairman and Chief Executive Officer Allen Born today announced a $75 million increase in the company's annual pretax operating earnings performance improvement target, to $175 million as compared with 1997 results - or about $1.94 per share after taxes, without regard to any changes in aluminum pricing.
Approximately $140 million of the targeted performance improvement is expected to come from operating cost efficiencies and from actions to bring all of Alumax's operations up to a level of the company's best practices. About $22 million is expected to come from gains in ...