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The Honolulu Advertiser
Posted on: Wednesday, March 31, 2010

Ameron advised to sell Isle operation

Advertiser Staff

Hawaii news photo - The Honolulu Advertiser

Tim Fenton, left, McDonald's president for Asia, Pacific, the Middle East and Africa, opened the company's Hamburger University in Shanghai yesterday, with school officers Chris Lyons, Susanna Li, Lynn Tan and Kenneth Chan.

Associated Press

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A shareholder in Ameron International Corp. is asking the company to sell its Hawai'i concrete products operation as one of several steps that should be taken to boost the company's share prices.

Barington Capital Group of New York sent a letter to Ameron on Monday night asking for the sale of two businesses including the Hawai'i operation, a reduction in executive compensation, more aggressive management of costs and other actions.

Barington, which owns 3.7 percent of Pasadena, Calif.-based Ameron's shares, said share prices of other companies have performed better the past 30 months.


Hawai'i's coincident index rose in February for the second time in 26 months, according to a report from the Federal Reserve Bank of Philadelphia.

The index rose by 0.1 percent, or the same as the increase in the national coincident index. Hawai'i's coincident index last rose in December after falling for 23 consecutive months. The index measures economic indicators thought to closely coincide with the overall economy.


Tesoro Corp., the San Antonio-company that owns the biggest oil refinery in Hawai'i, said Greg Goff has been elected its new president and chief executive officer.

Goff replaces Bruce Smith, who will continue as Tesoro's chairman until June 4. Goff, 53, previously was senior vice president for ConocoPhillips.

Tesoro executives said earlier this month they're studying whether the company should stop refining crude oil here and use the site as a terminal from which to distribute fuel.