Ormet income rises almost 250% on tax benefit in 2011

Mar 20, 2012 | 05:51 AM |

Ormet Aluminium posted a net income of $137.6 million in 2011, almost 250% above its 2010 figure of $39.8 million, after the reversal of tax valuation allowances saw the company post an income tax benefit of $108.4 million. “At the end of the second quarter of 2011, company management revised the estimate of the likelihood of....

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