AEP mulls impact of Ormet shutdown
Jul 26, 2013 | 05:38 PM
| Michael Cowden
CHICAGO Ormet Corp. might not remain in business, executives at American Electric Power Co. Inc. (AEP), Ormets power supplier, said during a July 25 earnings call.
"There are issues related to whether or not Ormet stays in business," AEP executive vice president and chief financial officer Brian Tierney said when asked by an analyst about the Columbus, Ohio-based utilitys exposure to the bankrupt Hannibal, Ohio-based aluminum producer. "If Ormet were to stop operations altogether," the move would result in AEP seeing a pre-tax hit to revenue of about $2.8 million per month, he said.....
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