Evansville Press from Evansville, Indiana • 25

2 THE EVANSVIUE PRESS Friday June 19 1987 25 area stands 2 for 5 in luring new industry Princeton Princeton has raised its batting average to 2 for 5 The Gibson County community celebrated yesterday with a news conferencereception in the county courthouse welcoming Emerson Radio Cora which announced plans to build a distribution center on 41 outside the city limits Emerson is the second new industry Princeton has landed recently But it also recently lost three The other success was Orion Electric Co which moved into the former Princeton Industries Corp building last month and began making televisions last week Orion already has hired 64 em- ment in Southern Gibson County The committee lost its first serious prospect Toyota But Toyota us what we needed to do" committee chairman George Rehnquist noted yesterday The giant Japanese auto maker is building its new US plant in Kentucky The community last month lost the Nucor Corp which seriously sought a plant site at outside Princeton for a 6200-million high-tech steel milL Nucor went elsewhere when it and the committee were unable to put together a plant site of more than 500 acres that the company could acquire Nucorp considered three locations The first was over coal which the coal company refused to give up The second was priced higher than the steel-maker was willing to pay And the third available because the major property owner ref used to sell Now fifth serious prospect of late the Lobdell-Em-ery Manufacturing Co of Alma Miich is expected to announce soon that it will build its new metals stamping plant near Corydon in the southeast corner of Indiana Until recently Princeton officials felt they also had won this new plant which will employ about 150 The reason for the last minute switch to Corydon was not dear though Princeton knew throughout negotiations with Lobdell-Emery representatives that it was competing with the Louis-ville-area community visited Corydon first and apparently developed a feeling for that community though we had a better site and more to offer" a Princeton representative said Princeton offered Emerson a 6150000 low-cost loan in addition to a prime industrial location readily accessible to major highways Emerson will use the site to build a 100000-square-foot distri bution center to serve the Midwest It already has distribution facilities in New Jersey and California for the televisions and other electronic consumer products it markets The 6150000 cones from the state as a grant to Gibson County The county in turn is lending the funds to Emerson for five years at a mere 2 percent interest When repaid the county can use the funds for another industrial development The state gave the county 6265000 for a similar type loan to Orion repayable in five years at 2 percent annual interest Mel Runge Business editor ployees and soon will boost the workforce to about 100 said Masahide Otake Orion president Emerson which buys Orion products will build next door to the TV maker reception was sponsored by the Princeton Chamber of Commerce which two years ago organized a committee to promote industrial develop AQUA CITY SWIM CLUB pfieaeuto Presbyterian Church of firms still tied to sells stock Africa A Wild Ctoj eadc Paidy Ten Sveityemt Udk 21! Friday Saturday Unisys has nearly 700 and estimated assets of 635 635 said the Rev William Somplatsky-Jarman another church committee member GM the decision said George Schreck a GM spokesman Schreck said GM sells parts to Delta to help preserve the jobs of about 3000 South African employees "These employees and their 15000 dependents were concerned about how any (GM) action would affect them" said Schreck "We have consistently said we would not abandon them And we did Peter Hynes a spokesman for Unisys said the company had no comment on the divestment By George White Knight -Bidder Newspapers The Presbyterian Church has decided to sell all of its General Motors Corp stock 40000 shares valued at 62 million because GM is maintaining some economic ties with its former subsidiary in South Africa The church at a general assembly in Biloxi Miss that ended yesterday also decided to sell all of its Unisys stock 6600 shares valued at 6800000 because the Detroit computer maker has operations in South Africa Unisys has about 49 million shares of stock outstanding and GM has about 317 million shares of common stock outstanding The 3-million-member church took the divestment action as part of an effort to pressure South white minority government to abolish apartheid million in South Africa The company has said it is trying to use its presence in South Africa to oppose apartheid GM sold its subsidiary to the managers of its South African operation in January GM sells parts to the company Delta Motor Corp which is licensed to manufacture GM vehicles "This is an act of solidarity with the suffering people of South Africa" said the Rev Daniel Thomas chairman of the Committee on Mission Responsibility Through Investment The church decided to sell GM stock because the automaker sold its South African assets and up a new company which would use GM parts and technology to make GM vehicles without GM's (anti-apartheid) commit- Volleyball Tournament with Prizes Swimming Basketball More! 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