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The Honolulu Advertiser
Posted on: Tuesday, March 30, 2010

Ameron International shareholder asks company to sell Hawaii business

Advertiser Staff

A shareholder in Ameron International Corp. is asking the company to sell its Hawai'i concrete products operation as one of several steps that should be taken to boost the company's share prices.

Barington Capital Group of New York sent a letter to Ameron on Monday night asking for the sale of two businesses including the Hawai'i operation, a reduction in executive compensation, more aggressive management of costs and other actions.

Barington, which owns 3.7 percent of Pasadena, California-based Ameron's shares, said share prices of other companies have shown better performance over the past 30 months.