United Dominion Industries
has made an offer to
Commercial Intertech
Corporation to combine the two
companies through purchase of
outstanding common shares of
stock.
"Our focus on trying to buy
the outstanding common shares
is due to the synergies that exist
between the two companies,"
said Robert L. Shaffer, Charlotte
media spokesman.
Shaffer said United Dominion
has increased the price to be
paid pursuant to its cash tender
offer for all outstanding com-
mon shares, including associat-
ed preferred share purchase
rights of Commercial from $27
to $30 per share or 57 percent
more than TEC Shareholders
closing price on June 27 when
United Dominion first publicly
announced its acquisition pro-
posal.
"We have had no word from
Commercial Intertech," Shafer
said Wednesday.
"Our interest is to acquire
good, solid businesses because
we are interested in growth," he
said.
Commercial Intertech oper-
ates a local plant on Canterbury
THE EKINGS MOUNTAIN HERALD
Offer made to Commercial Intertech
Road in xings Mountain. ad
United Dominion" also re-
sponded to the plan announced
‘Friday by Commercial
Intertech's board of directors to
thwart United Dominion's offer
by repurchasing up to 2.5 mil-
lion common shares and spin-
ning off 100 percent of the com-
pany's Cuno Division.
"In our judgment, buying
back its shares in the open mar-
ket Friday from primarily large
institutional investors and arbi-
trageurs is strong evidence of
TEC management's and board
of directors’ clear intentions to
entrench themselves further
_ rather than to afford all share-
“holders an opportunity to de-
cide the future direction of the
company," said William R.
Holland, United Dominion's
chairman and chief executive
officer.
"We are confident that
Commercial shareholders will
conclude that United
Dominion's cash proposal offers
significantly more value and
considerably less risk than the
leveraged alternative proposed
by Commercial Intertech's man-
agement and board of direc-
tors."
Utilities Committee to discuss garbage issue
The city's utility committee
will tackle the controversial
garbage issue Monday nigh
with an eye to recommending
to the full City Council 1 July 30
on who will collect the garbage,
a private contractor or the cur-
rent city sanitation crew.
City Council at the June
meeting charged the committee
to review a privatization con-
tract Council has already
awarded to Cleveland
Container of Shelby.
The bidding procedure has
been questioned by several
Council members and one of
the three bidders for the project.
Privatization would mean
rollout containers provided by a
contractor and announced
garbage pickup once a week.
Public Works Supt. Karl Moss
said the change would also
mean savings to the city which
needs to buy two garbage
trucks estimated to cost
$190,000. He says he needs to
hire three more people now and
that one of the city's three
trucks is down this week.
Moss said the automated ser-
vice by a contractor would not
displace the city's sanitation
staff. He said qualified people
would be retained by the con-
tractor.
He said the contract provides
that citizens would be provided
a 90 gallon rollout container
plus an 18 gallon recyclable
container free and would be
asked where they wanted to
have their garbage picked up,
either their driveway or curb,
and they would be given a pick-
up schedule. Senior citizens and
those handicapped may still get
the backyard pickup upon certi-
fication by the city manager.
Moss said that rumors have
been flying that those unable to
use the rollout containers
would have to get a doctor's
certification of their illness.
"That is simply not so," he said.
Moss said the proposed 10-
year contract would provide
once a week pickup to 3,450
households plus commercial
businesses. Since a contractor
has an automated fleet of
trucks, he would be able to re-
turn to an area if a resident is
missed on pickup day or go a
second time to a residences in
event of a funeral, etc.
"The contractor has told me
that he will coordinate with citi-
zens the best place at their resi-
dences for them to place the
containers," said Moss.
Moss said that 85 percent of
the calls coming into Public
Works support the new rollout
containers. He said people feel
the concept will mean a cleaner
town.
Moss predicted that a con-
tractor for the city's sanitation
service would be putting close
to $450,000 in the operation the
first year due to costly automat-
ed equipment.
Last month Councilmen
Ralph Grindstaff and Jerry
Mullinax attempted to rescind
the contract with Cleveland
Container but their motions
‘were denied by Mayor Scott
Neisler after City Attorney
Mickey Corry said the discus-
sion should be an agenda item
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at the July 30 meeting of
Council. The board then agreed
to send the matter to the utility
committee for its recommenda-
tion.
Councilwoman Norma
Bridges, a member of the utility
committee which includes
Councilmen Phil Hager and
Dean Spears, said all Council
members received a copy of the
privatization contract this week.
"I had not seen a copy of the
contract before this week and I
am anxious to review it," she
said.
Bridges said she has received
several complaints from citi-
zens who question the city's
policy with regard to disposing
DUKE
From Page 1-A
Kings Mountain is getting on
the ground floor in the market
by plans to build a new peak
shaving plant at its North
substation.
Maney said the combination of
the plant and the city's innova-
tive SCATA system will mean a
savings of $750,000 a year but
estimated. the money would be
used for the first three or four
years to pay for the plant.
Maney says it's up to City
Council what it plans to do
with a large settlement, which
he says he cannot disclose until
after the contracts are signed.
And he says it's Council's de-
cision on the percentage of re-
duction to customers. , +r .~
But he says customers can be
pleased that the contract locks
them into an agreement that
means no rate increases for the
next four years.
"We will have to evaluate our
rates to find the final reduction
and since we already have a
customer data base and SVBK
recently completed a rate study
that should be easy," said
Maney.
Maney said the reduction
would be broken down into the
different customer classes: resi-
dential, small and large com-
mercial and industrial with cer-
tain percentages applied to
-those classes and that weighed
against the information and re-
search before the actual dollars
and cents and savings are pre-
sented to Council for a decision.
Hopefully by the winter peri-
od electric customers will get
some even better news," he
said.
Since Kings Mountain is not a
member of a power agency the
city was not locked into a con-
tract with Duke and was in a
unique position to put out a na-
tional request for a proposal for
alternative power suppliers,
Maney explained.
"The old way of doing busi-
ness on the electrical market is
over,"said Maney who has led
an aggressive plan which pur-
sued legal counsel to initiate a
suit.
"We have to be competitive
2 different tones, vibration,
clock, time of day, time
stamp, 2 state coverage
hil lies last
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of recyclables.
"I was told by one resident
that he had been sorting his re-
cyclables and placing them at
the recycling center at the
Community Center but was
told that "all the recyclables
went in with the regular
garbage that went to the land-
fill."
She said the citizen who com-
plained to her had started tak-
ing his recyclables to the
Midpines Recycling Centeron
Margrace Road.
"Citizens don't need to go to
the trouble to sort out plastic
and clear glass and keep it sepa-
rate from household garbage if
it doesn't get to the right place,”
and remain competitive as a
wholesale supplier to retain our
existing customers because the
day is coming with deregula-
tion when those customers can
. go out and choose their own
supplier,” said Maney.
There is no retail wheeling at
the present time, but Maney
sees that in the future a major
chain could decide to buy its
power from a supplier from
Texas, for instance, and then -
pay Kings Mountain only for
transmission.
"That's the next step and we
have to be on top of it," said
Maney. came .
Maney calls Kings
Mountain's deal with Duke a
matter of survival.
s. nota matter of how
ME
md HARE Wwe" make but
keeping what we have." he
said.
Lower rates are possible with
peak generation, voltage regu-
lation and incentives to cus-
tomers.
"If we don't plan ahead we
will lose our utilities and our
customers," said Maney who
commended City Council for
giving him the opportunity to -
move ahead with a soon-to-be
constructed peak generation
plant for which the closing of
the contract with the financing
agency, BB&T, is st for Friday at
8:45 a.m. at City Hall. to
Maney said that the date for
she said.
But Moss said that for the
most part the recyclables his
crew sees are contaminated,
meaning that once clear, green
or amber glass is broken and
mixed that it is contaminated
and must be included with the
regular trash hauled to the
landfill.
"Recycling is strictly volun-
teer and if citizens segregate it
according to the product the
Tity crews take it from the bins
at the Community Center and
at Parkdale Mill site and haul it
to a separate location at the
Cleveland County Landfill.
Sanitation crews have put
bins out for paper which is
picked up by a service at no
cost to the city.
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UNIVERSITY
i.
groundbreaking for the plant
will be announced soon.
"The city has positioned itself
as second to none in regards to
small cities in the state because
of its aggressive support in ne-
gotiations with Duke, the peak
generation facility, the SCATA
system and other innovative
ideas," he said.
Not only will residential cus-
tomers benefit from innovative
rates but industrial customers
cant be offered time of day use
rates in which the industries
curtail their uses during peak
periods and save dollars.
Maney is excited. He has seen
many changes in the gas and
electric utilities over the years
but he feels good about "a once
in a lifetime opportunity to help
seal a small portion of our fu-
ture."
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