Hancor. (Business: general industry reports).

Hancor Inc.'s Brazil, IN, plastic pipe manufacturing plant will continue its operations. Hancor now confirms that plans to close the Brazil facility have been reassessed and that plant closure will not take place.

In June 2000, Hancor announced the realignment of its manufacturing

network in order to maximize efficiencies and make the company stronger and more competitive, requiring closure of the Brazil, IN, plant by the end of 2001. In March 2001, the company indicated the plant's closing had been postponed for an undetermined period. Since that announcement, Hancor has found alternative ways to optimize the manufacturing and distribution network that will enable the Brazil plant to operate as a cost-effective facility.

"We sincerely appreciate the dedicated employees who remained with the company during times of uncertainty about the future of their plant," says Steve Anderson, President and CEO of Hancor Inc. "Our employees' perseverance and cooperation made it possible to find workable solutions to keep the plant operating in a more cost-effective manner."

Approximately 50 full time employees currently work at the company's Brazil, IN, plant.