On February 2, 2001, Amsted announced its intention to divest BAC with completion of the sale anticipated in June. New Amsted chairman, president, and ceo W. Robert Reum reversed the earlier decision to divest BAC as part of a plan to service heavy Amsted debt load.
Aided by an improved cash flow condition, Reum cited the importance of preserving strong income-producing assets such as BAC to the overall health and value of the corporation.