Search Site   Web   Archives - back to 1987 Google Newspaper Archive - back to 1901Powered by Google

Walter Industries to spin off financing business

Times Staff Writer
Posted: Oct 02, 2008 07:41 PM


Story Tools
Comments Contact the editor
Email Newsletters  
Social Bookmarking
ADVERTISEMENT
ADVERTISEMENT
Related Links
Loading Video...
Loading...
Back Next

Walter Industries Inc., a Tampa company that produces coal for the steel industry, has outlined plans to separate its financing business from its natural resources business.

The company will distribute to shareholders all of its interest in its subsidiary JWH Holdings Co., which is the parent of Walter Mortgage Co. and Jim Walter Homes. Jim Walter Homes will be sold off, and JWH Holding Co. will merge with Hanover Capital Mortgage Holdings, a real estate investment trust in New Jersey.

The new company will be called Walter Investment Management Corp., based in Tampa, with 225 employees and led by Mark O'Brien, chairman and CEO of JWH Holding Co.

Walter Industries will transform "into a pure-play natural resources and energy company," chairman Michael Tokarz said. The merger and spinoff is expected to be completed in 2009.


[Last modified: Nov 03, 2010 02:30 PM]

[Get Copyright Permissions] Click here for reuse options!
Copyright 2008 Tampa Bay Times


Join the discussion: Click to view comments, add yours
 

(Separate multiple emails with a comma)



Loading...



Send me a copy
 
* Indicates a required field
Privacy Policy (Opens in new window)

Want More Breaking News?

ADVERTISEMENT

 
ADVERTISEMENT