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For week ended August 15, 1999 Posted 29 Aug 1999

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Geneva hires new executive to help bankruptcy woes

Summarized by Eric Bunker

Geneva hires new executive to help bankruptcy woes
Utah co UT Journal 12Aug99 L4
By C.C. Fisher: Orem Daily Journal

VINEYARD, UTAH -- The Board of directors for Geneva Steel announced Thursday that it has appointed Birchel S. Brown as senior vice president of operations. Hired away from Northwestern Steel and Wire in Chicago, where he was serving as vice president of steel and wire operations. Brown has a total of 33 years of steel operations experience.

Geneva officials filed for Chapter 11 bankruptcy this last February as the result of years long slump in business due to foreign steel companies dumping steel in the United States at a lower cost than what U.S. steel makers could produce at cost. Company officials are hoping that Brownís extensive experience will help bring the company out of bankruptcy.

A top Geneva official has also just returned from Washington where he lobbied with other US steel producers for government protection. A financial aid package is making its way through the Congress. The aid package will also give private investors and lenders more confidence in providing capital and operating funds.

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