Crown in 'strategic discussions'

Crown Central Petroleum Corp., Baltimore, Md., is discussing strategic alternatives with large shareholders, Apex Oil Co. and Rosemore Inc., officials said Thursday. On Nov. 1, Crown extended by 30 days the deadline for Apex Oil to make a definitive offer for that beleaguered company.


Crown Central Petroleum Corp., Baltimore, Md., is discussing strategic alternatives with large shareholders, Apex Oil Co. and Rosemore Inc., officials said Thursday. On Nov. 1, Crown extended by 30 days the deadline for Apex Oil to make a definitive offer for that beleaguered company.

That was the second extension of that deadline (OGJ Online, Nov. 1, 2000).

Its shareholders rejected a proposed merger with Rosemore in August (OGJ Online, Aug. 24, 2000).

Meanwhile, labor unions AFL-CIO and the Paper, Allied-Industrial, Chemical, and Energy Workers International Union (PACE), said Thursday they will intensify their boycott and comprehensive campaign against Crown Central that started with a lockout 5 years ago.

The labor announcement came after workers in Pasadena, Tex., overwhelmingly rejected a contract proposal presented Oct. 17 to end the lockout of PACE union members in February 1996 at its main refinery in Pasadena (OGJ Online, Oct. 20, 2000).

Eight workers are also suing the troubled company alleging racial and sexual discrimination (OGJ Online, Nov. 28, 2000). Crown denies the allegations.

Crown operates two Texas refineries with a total capacity of 152,000 b/d, 329 Crown gasoline stations and convenience stores in the Mid-Atlantic and Southeastern US, and 13 product terminals along the Colonial, Plantation, and Texas Eastern Products pipelines.

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