Aluminum market source of Ormet woes: Ohio governor

Oct 16, 2013 | 10:51 AM | Michael Cowden

Tags  Ormet, Ohio governor, John Kasich, Robert Nichols, Chapter 11 bankruptcy protection, London Metal Exchange, aluminum prices, Public Utilities Commission of Ohio American Electric Power

CHICAGO — Ohio is doing what it can to help Ormet Corp. but might be unable to protect the bankrupt aluminum producer from difficult market conditions, a spokesman for Ohio Gov. John R. Kasich suggested.

"Ohio wants to see Ormet succeed and has provided more than $300 million in support to the company, but the state of the aluminum market means that not even that huge subsidy has been enough," Robert Nichols, a spokesman for the governor, told AMM via e-mail Oct. 14.....

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