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<br />`KAISER/from page 95
<br />al empire that expanded to include
<br />aluminum, -cement, electronics,
<br />automobile manufacture and
<br />health care.
<br />At its peak in the early 1970s,
<br />the Kaiser Fontana plant em•
<br />ployed 13,000 people.
<br />After prospering along with oth-
<br />er U.S. steelmakers, Kaiser's for-
<br />Kaiser Steel em-
<br />ploys 1,045 peo-
<br />ple, including 50
<br />at the Colorado
<br />Springs . head-
<br />tunes waned in the 1970s because
<br />of low-cost steel imports and over-
<br />- capacity in the industry.
<br />~ Fragments of the Kaiser.empire
<br />survive, but lbe Fontana steel mill
<br />was closed in 1983 and sold in
<br />1964. '
<br />Raiser was the nation's ttinth-
<br />largest steelmaker at that time.
<br />Observers said the sale placed
<br />8,000 Kaiser workers on the com-
<br />pany pension rolls, adding about
<br />;240 million to the company debt.
<br />Among Kaiser's creditors are
<br />New York Life Insurance Co.,
<br />which claimed the company owed
<br />it ;4.1 million in newspaper ads
<br />Wednesday.
<br />Kaiser's tiling said it owed New
<br />York Life E1.8 million.
<br />The other top creditors listed in
<br />the filing included URS Corp.,
<br />;1.04 million; Kaiser Foundation
<br />Health P1anSo, ;530,172; Je[fries
<br />Banknote, ;470,990; Collier Shan-
<br />non Rill, ;434,369; Lukens Steel
<br />Co., ;430,656; Mission land Co.,
<br />;345,000; Nippon Kokan K.R.,
<br />;'309,602;_. Thompson & Co.;
<br />n98,308; Power Master,;293,691;'
<br />Crosby and Overton, ;265,049;
<br />Napa County Property Taa,
<br />;186,324;
<br />Bechtel, ;185,084; American
<br />Home Assurance, ;178,324; San
<br />Bernardino County Taa Collector,
<br />;171,151; Gresham Varner Savage
<br />& Noland, ;161,625; National
<br />Pharmacies,;152,363; Cushman &
<br />Wakefield of California, ;131,298;
<br />White & Case,;117,720; and Hill ~
<br />Knowlton Inc., f108,270.
<br />Coors' '86 profits
<br />By JOE WEBER
<br />pocky MolJnteln News Staff Wrltln
<br />Adolph Coors Co. yesterday reported a 11.2% surge
<br />In profits for 1986 despite a drop in fourN~uarter
<br />earnings that the company blamed on tax reform.
<br />Industry analyst Robert S. Weinberg, praised the
<br />performance. "There are only three brewers in the
<br />United States who are holding their own or improving
<br />... Anheuser-Busch, Miller and Coors."
<br />Weinberg said Coors, the nation's fifth-largest
<br />brewer, may be on its way to contending with Miller
<br />Brewing Co. for the sernnd-place spot in a tees years.
<br />' Coors boosted net income last year to;59.4 million,
<br />or;1.85 a share, from;53.4 million, or;1.52 a share,
<br />in 1985. Net sales hit a record of;1.32 billion, 2.6%p
<br />more than;1.28 billion the year before.
<br />'- --Rowevef; fourth-quarter earnings plunged to ;4.04
<br />million, or lit a share, from 1985's closing quarter
<br />net income of ;7.6 million, or 22t a share. Sales
<br />slipped to ;275.9 million from ,the 1985 figure of
<br />;278.9 million. '
<br />The company blamed taa reform for the fourth-
<br />quarterdownturn. Itsaid repeal of the Investment ta:
<br />credit boosted its income-taa bill enough to slash net
<br />inrnttte by;3.9 million, or lit a share.
<br />Beer shipments in the period grew to 3.17 million
<br />barrels from 3.16 million in the last quarter of 1985.
<br />Coors added Michigan to its tort last year, boosting
<br />' its tnarket to 45 states. This week, Coors spread to 47
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