Olson Industries Narrows 1990 Loss to $246,000

Olson Industries Inc., whose sole operating unit, Dolco Packaging, makes plastic-packaging products, reported a loss of $246,000 for 1990, compared with a $1.69-million loss the previous year.

Both Olson and Dolco are operating under Chapter 11 of the federal bankruptcy laws, in which they are protected from creditors’ claims while they work out a reorganization plan. A tentative plan unveiled earlier this month calls for Olson to be merged into Dolco and for Dolco to emerge from Chapter 11.

Olson’s narrower loss in 1990--which it partly attributed to lower costs of resin, a major raw material in its packaging goods--came on a 5% decline in its sales to $69.5 million from $73.5 million in 1989.