General Shale CEO: “We will fully comply” with DOJ antitrust orders, sell assets | WJHL
JOHNSON CITY, Tennessee (WJHL) – CEO of General Shale Brick Incorporated responded to a series of antitrust lawsuits on Saturday, saying the company intends to “fully comply” with departmental sales and competition requirements. of Justice.
General Shale CEO Charles Smith said the antitrust lawsuits and divestiture orders had been known within the company for months before they were announced on October 1 and that the DOJ’s decision to file the complaint is ” typical ‘for the acquisition of market competition such as the purchase of General Shale Meridian Brick LLC.
Regarding the list of required sales, Smith said the settlement is non-negotiable and the two companies will abandon the mines, manufacturing facilities and distribution centers listed in the proposed final judgment.
Among those listed, several regional installations of Meridian Brick stand out:
- A manufacturing facility in Gleason, TN.
- Two Gleason mines, TN.
- A distribution yard in Clarksville, TN.
- A distribution yard in Knoxville, TN.
- A distribution yard in Memphis, TN.
- A distribution yard in Nashville, TN.
General Shale will sell a manufacturing plant and mine in Indiana, as well as four distribution parks in Indiana and Michigan.
Along with the equipment and infrastructure, the employees of the sites put up for sale will no longer work for either of the two companies.
âGeneral Shale employees are the heart of our business,â said Smith. âUnfortunately for us, we will lose the employees of these divested assets. We are doing everything we can to get them to find employment with the buyer of these assets. “
The deal that caught the DOJ’s attention is expected to be finalized within the next few weeks, Smith said.