Johnston Industries Inc. Files Chapter 11

Columbus, Ga. - On January 31, 2003, Johnston Industries and all of its subsidiaries voluntarily filed Chapter 11. ''Despite our best efforts to stabilize revenue, reduce costs and maximize cash flow, the downturn in the manufacturing economy combined with financial issues has necessitated decisive action,'' said L. Gene Cone, president and CEO. ''We intend to use the Chapter 11 process...