Hercules Closing Culver City Plant: Wilmington, Del.-based...
From Times Staff and Wire Reports
Hercules Closing Culver City Plant: Wilmington, Del.-based Hercules Inc. has been trying since last fall to find a buyer for Mica, a Culver City supplier to the circuit-board industry. Without a solid prospect, Hercules, a cellulose products firm, decided to “shut down the Mica operations and cease any further drain on the earnings of the corporation.” Mica, founded in 1950, had 250 employees. Hercules’ second-quarter results will reflect the closure as an $11-million after-tax charge.
