So, where's that leave Ormet? Betwixt, between and very vulnerable at Burnside
Nov 11, 2005 | 08:08 AM
| David Brooks
Now that it has extricated itself from the downstream industry, Ormet Corp.'s future appears, at the same time, both clearer and more dangerous.
The sale of two of its downstream businesses and the equipment of a third to Aleris International Inc. left the Wheeling, W.Va.,-based company as an upstream aluminum player.
But with its Hannibal, Ohio, smelter crippled by the lack of an energy contract and a strike that is now a year long, the company's fortunes will for the foreseeable future rest on the performance of its Burnside, La., alumina refinery."Ormet is fully aware of the cyclical nature of the alumina business. We believe there will continue to be opportunities in the spot alumina market for the foreseeable future," Michael S. Williams, the company's president and chief executive officer, said.....
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