New owners start up Columbus plant one day after closing
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Posted 6:59AM on Thursday, May 2, 2002
COLUMBUS - Almost as soon as they were out of work, employees of Marubeni Denim had new jobs. And they didn't have to go far to get them. <br>
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The Japanese company closed its doors Tuesday night. Wednesday, Denim North America was born. <br>
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Almost all of the 300 textile workers took up where they left off, with the same plant, same benefits and same pay - an average of $12.50 an hour. <br>
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The only difference is a change in ownership that reflects an interest in local businessmen keeping a local business operating. <br>
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Tokyo-based Marubeni announced in December that it would close the plant if it could not find a buyer in two months. <br>
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Bob Koon - a former consultant to Marubeni - will serve on Denim North America's board of directors and help with marketing during the transition. He is joining owners Jack Pezold - who also owns McDonald's restaurants - and George Jeter, a retired Aflac chief financial officer. <br>
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Larry Galbraith will be president and CEO.