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Oglebay Norton Comes Through Bankruptcy

Published Tuesday, February 01, 2005

After a near collapse, Oglebay Norton found its second lease on life in bankruptcy court. And company President and CEO Michael Lundin is confident the opportunity won't be squandered. Oglebay Norton was founded in 1854 as a Great Lakes' shipping company. In 1998 it entered the aggregate industry by acquiring Global Stone, and later Michigan Limestone Operations. Along with the new business units, it also acquired a great deal of debt. In 2001, the company began reporting losses and saw its stock price plummet. In 2002, the stock fell from $17.68 a share ...

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