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Settlement made in Rauch plant fireGASTONIA — Rauch Industries announced Friday a $4.8 million insurance settlement over equipment lost in an October 1994 fire that destroyed its Cram-crton plant.Marshall Rauch, board chairman, said the money must be reported as income during the company’s third quarter.But he stressed the money - like an earlier $1.9 million settlement for lost inventory - is not a windfall profit.Both losses came in the fourth quarter of 1994, that led to the company’s firstannual loss in its 42-ycar history.Rauch said the $4.8 million would be set aside to buy replacement equipment.
Newspaper Details
The Gaston Gazette
Gastonia, North Carolina, US
Sat, Oct 07, 1995
Page 6
Full Page
Clipped by
Library O.
NC, USA 13 Jan 2022
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