OMN OMNOVA Solutions Inc

OMNOVA Solutions Implements Lockout at Jeannette, Pennsylvania Plant FAIRLAWN, Ohio, Dec. 6 /PRNewswire-FirstCall/ -- OMNOVA Solutions (NYSE:OMN) today announced that it has implemented a lockout of employees represented by United Steelworkers of America Local 22R at its Jeannette, Pennsylvania facility. The lockout affects approximately 160 bargaining unit members, representing less than 8% of the Company's workforce. The action was initiated for the purpose of supporting OMNOVA's bargaining requirements. The Company and the Union entered their sixth calendar month of negotiations without reaching agreement on critical changes necessary to improve the plant's ability to compete in an increasingly challenging global marketplace. A further sense of urgency has resulted from increasing concerns about a series of incidents of apparent vandalism that have occurred at the plant over the past few weeks. The previous contract expired on September 2, 2004. "We regret the need to take this action," said Kevin McMullen, OMNOVA Solutions' Chairman and Chief Executive Officer. "However, we were left with no alternative given the circumstances. We have an obligation to provide a safe and secure work environment and to continue to serve our customers with quality products and services. Our hope is that we can reach a competitive agreement soon which will enable us to allow our union-represented employees to return to work. "We have activated our contingency plan and will continue to operate and fully serve our customers," McMullen said. OMNOVA Solutions' Jeannette, Pennsylvania plant is part of the Company's Decorative Products Division. The plant produces industrial films and laminates used in a number of products, including banners, awnings, signage, window shades, vending machines, and floors and ceilings for manufactured housing. OMNOVA Solutions Inc. is a technology-based company with 2003 sales of $683 million and 2,100 employees worldwide. OMNOVA is an innovator of emulsion polymers, specialty chemicals, and decorative and functional surfaces for a variety of commercial, industrial and residential end uses. This press release contains statements concerning trends and other forward-looking information affecting or relating to the Company and its industries. These statements are intended to qualify for the protections afforded forward-looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of forward-looking terms such as "could," "may," "should," "will," "expects," "believes," "anticipates," "plans," "intends," "estimates," "projects," "targets," "forecasts," "seeks," "likely," "would" or similar terms. Forward-looking statements address the Company's business, results of operations, financial condition and significant accounting policies and management judgments, and include statements based on current expectations, estimates, forecasts and projections about the economies and markets in which the Company operates and management's beliefs and assumptions about these economies and markets. There are many risks and uncertainties that could cause actual results or outcomes to differ materially from those described in the forward-looking statements, some of which are beyond the Company's control, including inherent economic risks and changes in prevailing governmental policies and regulatory actions. Some important factors that could cause the Company's actual results or outcomes to differ from those expressed in its forward-looking statements include, but are not limited to, the following: a prolonged work stoppage; operational issues at this and the Company's other facilities; availability of financing to fund operations at anticipated rates and terms; acts of war or terrorism; and governmental and regulatory policies. The Company disclaims any obligation, other than imposed by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. DATASOURCE: OMNOVA Solutions Inc. CONTACT: Communications, Sandi Noah, +1-330-869-4292; or Investor Relations, Michael Hicks, +1-330-869-4411 Web site: http://www.omnova.com/ Company News On-Call: http://www.prnewswire.com/comp/143306.html

Copyright