Ormet to shut half of operations

Aug 01, 2013 | 11:11 AM | Michael Cowden

Tags  Ormet, Mike Tanchuk, aluminum, Public Utilities Commission of Ohio, Puco, production cut, AEP, electricity rates Michael Cowden

CHICAGO — Ormet Corp. will shut down half of its operations after the Public Utilities Commission of Ohio (Puco) denied its request for an emergency decision in a power rate dispute with American Electric Power Co. Inc. (AEP), contending it needs that relief to continue operations.

The bankrupt Hannibal, Ohio-based aluminum producer also said it has submitted a motion requesting the deferral of power bills due in August and September.

Ormet said the move was necessary to fund operations at its Hannibal facility while the company waits for Puco to conduct a full hearing on its request for a better power deal. The hearing is slated for Aug. 27, although Ormet had pressed to have a decision sooner.....

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