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|Michael D. Lundin Elected Vice President of Oglebay Norton Company Board Declares Regular Quarterly Dividend|
CLEVELAND, April 26 /PRNewswire/ -- The Board of Directors of Oglebay Norton Company (Nasdaq: OGLE) today elected Michael D. Lundin, currently President of Michigan Limestone Operations (MLO), Vice President of Oglebay Norton Company. The Board of Directors also declared a regular dividend of $0.20 per share payable June 30, 2000, to stockholders of record on June 9, 2000.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990901/CLW017 )
Lundin, one of the principal partners of Michigan Limestone Limited Partnership, served as president of the partnership since 1995 and as vice president, responsible for finances, accounting, administration, sales, and the Cedarville operations since 1990.
John N. Lauer, Chairman, President and CEO of Oglebay Norton Company commented: "Michael's strong operational and organizational management skills fit perfectly with our acquisition criteria of having solid management in place that we trust to run the business. His experience and leadership will greatly enhance our Limestone operations in the Great Lakes region. We are pleased to welcome Michael to our management team."
Lundin graduated Magna Cum Laude from the University of Wisconsin with a Bachelor of Science and Magna Cum Laude from Loyola Marymount University with a Masters of Business Administration. He is a past-president of the Rogers City Chamber of Commerce, a member and chapter officer of the Young Presidents Organization, and a member of the partners council of the World Center for Concrete Technology.
As part of the new organizational structure for MLO, Kent Rhude, also a principal partner in the Michigan Limestone Limited Partnership, has been promoted to Vice President of MLO responsible for the Cedarville operations. Also, Michael Skinner, formerly vice president and area manager for Oglebay Norton's Global Stone Corporation, has been elected Vice President of MLO responsible for the Port Inland operations. Both Rhude and Skinner will report directly to Lundin.
Rhude began his career with MLO in 1990 where he has held various positions within the company, most notably as vice president of Michigan Limestone and manager of the Cedarville plant. Prior to joining MLO, he held technical positions with Hibbing Taconite and Domtar Gypsum.
He is a native of Hibbing, Minnesota and holds a Bachelor of Science degree from the University of Minnesota in Mining Engineering. Rhude is a member of the American Institute of Mining, Metallurgical and Petroleum Engineers, the Les Cheneaux Lions Club and the Les Cheneaux Foundation.
Michael Skinner has served as general manager of Global Stone Port Inland since 1994. He has also served as vice president and area manager for Global Stone's Michigan operations, where he was responsible for the annual planning, production, sales and distribution of more than six million tons of limestone. Skinner is a graduate of Lake Superior University and has more than 26 years of experience in the lime and limestone industry.
Oglebay Norton Company, a Cleveland, Ohio-based company, provides essential minerals to a broad range of markets, from building materials and home improvement to the environmental, energy and metallurgical industries. Building on a 146-year heritage, our vision is to become the premier growth company in the industrial minerals industry. The company's website is located at www.oglebaynorton.com .
Certain statements contained in this release are "forward-looking" in that
they reflect management's expectations and beliefs regarding the future
performance of the Company and its operating segments. Forward-looking
statements are necessarily subject to risks, uncertainties and other factors,
many of which are outside the control of the Company, which could cause actual
results to differ materially from such statements. Weather, oil prices, Great
Lakes and Mid-Atlantic construction activity, the California economy,
population growth rates in the Southwestern United States, and steel
production all can impact revenues and earnings. Please refer to the Company's
current and subsequent SEC filings under the Securities and Exchange Act of
1934, as amended, for further information.
Oglebay Norton Company
North Point Tower
1001 Lakeside Avenue,
Cleveland, OH 44114
Phone: (216) 861-3300
Fax: (216) 861-2863