Ormet Corp. (ORMTQ)

[Muk]

Starting to sound like AEP is the big hurdle.... Even Kasich/Nichols disposition via words has changed. All while AEP posts near record high quarterly's. I know most of us couldn't pay our utilities if they jumped 2.5x. Neither can ormet.


"Kasich’s spokesman, Rob Nichols, has told me the administration is open to discussing any ideas on saving the Ormet plant as long as they reflect contemporary market conditions for aluminum manufacturers. The plant’s financial viability has been questioned by AEP, with a company executive previously saying the PUCO could have granted Ormet free electricity since March of this year and the company still would not be making money."

As for the Steelworkers’ latest attempt to get Kasich involved, Nichols told me via email the administration continues to work with Ormet management, the union and local community to figure out how to get the plant reopened and people back to work.