Ceramic Industry News

Oglebay Norton Selects Financial Adviser, Elects Directors

May 7, 2002
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Oglebay Norton Co. recently announced that it had selected CIBC World Markets as its financial advisor to assist the company in developing a plan to refinance its bank debt, due April 3, 2003. Oglebay Norton anticipates presenting a plan to its bank group no later than June 30, 2002; however, it does not anticipate making its plans public at that time. At the company's recent annual meeting, the shareholders elected all nine nominees for the position of director to serve for a period of one year and approved the 2002 Stock Option Plan. Elected as directors were John N. Lauer, who also serves as chairman of the board and chief executive officer; Michael D. Lundin, who also serves as president and chief operating officer; Albert C. Bersticker, who also serves as the outside lead director; Malvin E. Bank; William G. Bares; James T. Bartlett; Madeleine W. Ludlow; William G. Pryor; and John D. Weil.

The company's website is located at http://www.oglebaynorton.com.

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