Wabash Completes Manufacturing Realignment Plan

    WABASH, Ind.--Nov. 20, 2002--Wabash Alloys, LLC, today announced a decision to close its Benton, Arkansas facility as the final step in its previously announced strategy to shift production to locations that will provide the best service for major customers. Wabash Alloys is the leading producer of secondary aluminum alloys made from recycled scrap.
    The closure of the Benton facility is expected to affect 74 employees, although approximately 10 percent of those employees are expected to join other Wabash facilities. The company today informed employees that it expects to shift all production from the Benton facility by the end of 2002.
    "This difficult but necessary action will result in improved efficiency, lower costs and shorten shipping distances to key customers," said President Bruce A. Warshauer. "Our eight remaining facilities are ideally positioned to provide a solid foundation for future success and growth."
    "We continue to support Wabash in its pursuit of strategic facility expansions and changes in order to enhance its ability to serve customers and to lower costs," said Frank Doyle, chief executive officer of Connell Limited Partnership, which owns Wabash Alloys. "We intend to continue investing in Wabash and are excited about the company's potential for growth and success in the years ahead."
    Warshauer said he expects growth for the company in 2003 despite challenging market conditions in the automotive industry. "While much of our business is driven by demand from large automotive manufacturers and industrial customers, we expect growth in 2003, even if overall production remains uneven," said Warshauer.

    Based in Wabash, Indiana, Wabash Alloys is a leading supplier to the steel, automotive and appliance industries. Wabash has more than 950 employees with operating facilities in Alabama, Indiana, Ohio, Tennessee, Mexico and Ontario. Its parent company, Connell Limited Partnership, is based in Boston.