JOHNSON CITY, Tenn. (WJHL) – General Shale Brick Incorporated’s CEO responded to a slate of antitrust lawsuits on Saturday, stating that the corporation intends to “fully comply” with the requested sale and competition requirements laid down by the Department of Justice.
General Shale CEO Charles Smith said the antitrust lawsuits and divestiture orders had been known within the corporation for months before being announced on October 1, and that the DOJ’s decision to file the complaint is “typical” for acquisition of market competition like General Shale’s purchase of Meridian Brick LLC.
In regards to the list of required sales, Smith said the settlement is non-negotiable and both companies will be letting go of the mines, manufacturing facilities and distribution centers listed in the proposed final judgement.
Of those listed, several regional Meridian Brick facilities stand out:
- A Gleason, TN manufacturing facility.
- Two Gleason, TN mines.
- A Clarksville, TN distribution yard.
- A Knoxville, TN distribution yard.
- A Memphis, TN distribution yard.
- A Nashville, TN distribution yard.
General Shale will sell a manufacturing facility and mine in Indiana, as well as four distribution yards in Indiana and Michigan.
Alongside equipment and infrastructure, employees at sites listed for sale will no longer work for either business.
“The employees of General Shale are the heart of our company,” Smith said. “Unfortunately for us we will lose the employees of these divested assets. We are making every attempt that they secure employment with the purchaser of these assets.”
The deal that caught the DOJ’s attention is set to close within the next few weeks, Smith said.