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Show 41 r -- monday, march 20 , 1978 AVAILABLE NOW Insurer FOR LEASE boasts U.S. Steel $1 billion 15,000 sq. ft. Surety Life Insurance Company celebrated Tuesday its passing of the $1 billion mark of insurance in force. It is the second largest insurance company headquarters in Utah. President L. James Ellsworth opened the celebration saying Surety took 26 years to pass the $100 million mark and only 16 to achieve another P. C. STANOL CONST. CO. SPECIALISTS IN COMMERCIAL & INDUSTRIAL PLANNING & DE VELOPMENT 4370 South 500 West Phone 262-038- 1 20.6csq. ft.month NNN plus C.A.M. will divide & finish to tenant requirements $900 million. Since the decade began, Ellsworth said, Surety has enjoyed a compound growth of over 20 percent. At the cur- rent rate of growth, the company could reach its second billion dollars of insurance in force within five years, he said. Surety became a wholly owned subsidiary of the Dean Witter Reynolds Organization about 18 months ago. Continued from page two self with the Geneva plant in Provo. Geneva has managed to keep its head above water during the coal strike, using its inventory of coal and stockpile of coke. But should the strike continue more than a week more, Armstrong hinted of the plant d that would be shut down. one-thir- We don't expect to have he added, but any we may have to cut employee lay-off- s. hours. The Geneva plants new $9 million bag house in scheduled for completion this spring, in compliance with EPA requirements for emission control. This fall, another major task will begin as more than $30 million is invested in rehabilitating four coke ovens. "This We will be a real prob- lem, Armstrong continued. We have been stockpiling coke in anticipation of shutting down the ovens, and that stockpile is 50 percent depleted because of the coal taL nabnres best colors amid bom tbem ieto.iEMTOME' paint roglht here in strike. He said this could create a domino effect on western production, as well as again re- duce the manpower needed to operate Geneva. Use City Still open hearth The future of the Geneva Works, he contended, hinges on its profitability. Current facilities arc equipped with open hearth, while 70 percent of U.S. Steel plants have been converted to the more profitable basic oxygen process (BOP). Conversion of Geneva to BOP would produce a more efficient plant, but at a cost exceeding $120 million. Such a move would have to be carefully planned and cannot be considered until the market is more secure, Armstrong explained. Howells AMERITONE paints last and last through weather, children, cleaning Rich and vibrant, subtle and sophisticated, white or Howells and time. AMERITONE paints have covering power So less paint goes a lot not-quite-wh- ite, I paints are the stuff of which dreams are made. Thousands of colors to AMERITONE choose from. farther And now, Howells AMERITONE paint is made in here Utah, which right means good supplies and And quality! good prices. INC. THE PROFESSIONALS CHOICE OREM SALT LAKE CITY 590 North State 80 Trolley Square and 4285 South State OGDEN 3712 Pacific The company as a whole netted 66 percent less last year than it did the year prior. Both the fate of Geneva and U.S. Steel operations rests in the hands of the U.S. government's action against foreign imports, he emphasized. The entire steel industry employed 50P.000 people in he continued. This 1974, year, one in ten of those people is unemployed, and were it not for foreign imports, there would be 2,000 more employees at the Geneva plant alone. Geneva's payroll of $90 million and 5,000 employees has not been permitted to maintain its natural growth because of the unnatural competition, he said. |