Huntco Inc. Gives 60-Day Notice to Shut Down Blytheville, Arkansas Cold Rolling and Pickling Operation

Apr 30, 2001, 01:00 ET from Huntco Inc.

    TOWN & COUNTRY, Mo., April 30 /PRNewswire/ -- Huntco Inc. (NYSE:   HCO), an
 intermediate steel processor, announced that it was providing notification to
 applicable parties pursuant to the Worker Adjustment and Retraining
 Notification Act of 1988, of its intention to permanently close its cold
 rolling and coil pickling operations located in Blytheville, Arkansas, on or
 before June 30, 2001.  Approximately 100 workers will be affected by the
 closure.
     "As indicated in a separate news release today, we expect to sell the
 assets used in these operations to Enron pursuant to the terms of a definitive
 agreement announced earlier today.  We plan to permanently suspend our cold
 rolling and pickling operations whether or not the transactions with Enron are
 ultimately consummated," said Robert Marischen, President and CEO of Huntco.
     Marischen added, "We believe that the decision to suspend operations at
 our cold rolling and pickling plants in Blytheville and the proposed sale to
 Enron are in the best interests of Huntco Inc., its shareholders and its
 remaining employees.  Notwithstanding this, we regret the impact that this
 closure may have in the near term on our workforce in Blytheville."
     The Company expects that it will complete substantially all production
 required to meet remaining open sales commitments over the next two weeks, and
 that only very limited operations will be conducted thereafter until final
 suspension of operations.  Affected workers will be paid through the next 60
 days.
     Huntco Inc. is a major, intermediate steel processor, specializing in the
 processing of flat rolled carbon steel.
 
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SOURCE Huntco Inc.
    TOWN & COUNTRY, Mo., April 30 /PRNewswire/ -- Huntco Inc. (NYSE:   HCO), an
 intermediate steel processor, announced that it was providing notification to
 applicable parties pursuant to the Worker Adjustment and Retraining
 Notification Act of 1988, of its intention to permanently close its cold
 rolling and coil pickling operations located in Blytheville, Arkansas, on or
 before June 30, 2001.  Approximately 100 workers will be affected by the
 closure.
     "As indicated in a separate news release today, we expect to sell the
 assets used in these operations to Enron pursuant to the terms of a definitive
 agreement announced earlier today.  We plan to permanently suspend our cold
 rolling and pickling operations whether or not the transactions with Enron are
 ultimately consummated," said Robert Marischen, President and CEO of Huntco.
     Marischen added, "We believe that the decision to suspend operations at
 our cold rolling and pickling plants in Blytheville and the proposed sale to
 Enron are in the best interests of Huntco Inc., its shareholders and its
 remaining employees.  Notwithstanding this, we regret the impact that this
 closure may have in the near term on our workforce in Blytheville."
     The Company expects that it will complete substantially all production
 required to meet remaining open sales commitments over the next two weeks, and
 that only very limited operations will be conducted thereafter until final
 suspension of operations.  Affected workers will be paid through the next 60
 days.
     Huntco Inc. is a major, intermediate steel processor, specializing in the
 processing of flat rolled carbon steel.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X16755942
 
 SOURCE  Huntco Inc.