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Show Dim Sun Advocate IDA Kaiser officials report profits of $2.7 million Kaiser Steel Corp., owners of the Sunnyside Mine near East Carbon, reported a profit last year despite a $125 million loss in its steel manufacturing division and the decline in its coal production and sales. In their yearly report, officials of the company told stockholders the $2.7 million profit was derived from the sale of the companys interest in the Kaiser Center in Oakland, Calif., income tax credits and improved profits from the coal and fabricated steel divisions. But the small profit was not enough to rescue the companys steel manufacturing division, and the decision was made in 1982 to discontinue steelmaking at the Fontana foundry in California. The decision to halt steel manufacturing resulted in cut backs at the Sunnyside Mine, which idled some 200 miners and has come close to making the small city a ghost town. The Kaiser officials predict the coming year will not see any major improvement in the market for their coal, some of which they have attempted to sell to outside markets. In addition to the Sunnyside operation, Kaiser owns coal mines in New Mexico, one underground and one strip-minThe combined coal mines can provide up to 2.5 million tons per year. Despite the loss of revenues in other divisions and the depressed market, the Kaiser Coal division showed a 1982 pretax profit of $14.8 million, a 24 percent increase over 1981 figures. Company officials attribute the rise in profits amid the worst coal market in decades to cost reductions and performance improvements at the Sunnyside Mine and to a better than expected production at the New Mexico strip mine operation. But the small gains have not offset the massive losses the giant company has faced, both in profits and labor forces. Since 1980, when domestic steel first felt the bite of imported products, the number of active Kaiser employees in all divisions has fallen from 11,000 to just over 5,000 in December of last year. of these More than layoffs came as the result of reductions in steel production and the resulting mining 7-Elev- en to open third store slowdown. The rest can be attributed to mining reductions as proceed with work at site of Price's third a result of the over-a- ll depressed coal market. According to the Kaiser report, by the end of 1983, the company will have closed all of its steel crews Construction store at 325 South and U.S. Officials of Southland Corp. of Provo, the contractor for the project, said the store will have a new look including a wood front similar to other newer stores along the Wasatch Front. Opening date for the new store has been set for July 1. 6. manufacturing facilities, relying on the steel fabrication and coal divisions to provide the company revenues. Officials say unless they can secure a partner to assist in the upgrading of their Fontana steel foundry, they will sell their steel 2,640-square-fo- production facilities. The sale of its steel production division would mark a drastic move by Kaiser. The company has been known as one of the major U.S. steel manufacturing firms since its founding in the early 1940s. Photo by Stovo Hot nor yiauusm KTir WERE FULL OF SURPRISES! 720 W. Price River Drive (in Creckview Shopping Center) Store Hours Mon. Sat. 8:30-9:0Sunday 9:00 6:00 0 e. two-thir- . . ds attend tourism confab 8 A team SALT LAKE CITY of eight Castle Country residents attended the second annual Governors Conference on Tourism held at the Hotel Utah here Sunday through Tuesday. Sponsored by the Utah Travel Council and the Utah Hotel and Motel Association, the conference is the largest annual meeting of the travel industry. It has been designed to provide all entities of Utahs tourism industry with an opportunity to broaden individual perspectives and maximize the industrys potential through workshops, general sessions and a trade show. Representing Castle Country were Ralph and Ann Mitchell, Scott and Sandy Rasmussen, Thelma Jones, Von Wayman, and Mack and Judy Potter. Coinciding with the tourism conference is Utah Tourism Industry Week, declared for 2 in a March M. Gov. Scott proclamation by Matheson. The proclamation recognizes 27-Ap- ril tourism as Utahs largest private sector industry and No. 1 private sector employer, as a prime contributor to the states economy (generating nearly $1 billion annually), and as an industry which enriches the lives of visitors to the state as well as Utah residents. EXERCISE SANDAU Wood bawd rtp-othat look and ImI good. Stm nt |