CLEVELAND, May 23 /PRNewswire-FirstCall/ -- Oglebay Norton Company today announced that it has initiated the redemption of 369,822 shares of its 14.8275% Series A, Convertible Preferred Stock. Holders of called shares can either redeem their shares for cash of $13.52 per share or convert each preferred share into 1.2292 shares of common stock. The redemption date has been set for June 30, 2006. Conversions of called shares must be completed no later than 5:00 p.m. on June 23, 2006 in order to avoid redemption.
Oglebay Norton Company, a Cleveland, Ohio-based company with a 150-year tradition of service, provides essential minerals and aggregates to a broad range of markets, from building materials and environmental remediation to the energy and metallurgical industries. For more information, see http://www.oglebaynorton.com/.
