Kerr-McGee to focus on core assets, close four plants - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

Kerr-McGee to focus on core assets, close four plants

Updated:

(Oklahoma City-AP) -- Kerr-McGee Corporation says it's getting out of the forest products business and will close at least four of its five plants that treat railroad cross ties.

The Oklahoma City company expects to save about 13 (m) million dollars.

Plants in Columbus, Mississippi; Madison, Illinois, and Springfield, Missouri, will be closed by the end of next year. A plant in Texarkana, Texas will be shut down by the end of 2004.

About 270 jobs will be eliminated.

A fifth plant in Dalles, Oregon, is leased from Union Pacific and the two companies are negotiating what to do with it.

Kerr-McGee chairman and chief executive Luke Corbett says the company is trying to reduce debt and focus on its core assets of oil and gas exploration and production.
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