Three companies vie for Ormet's copper rods

Dec 11, 2013 | 10:11 AM | Michael Cowden

Tags  Ormet, excess assets, copper rods, competing offers, Libertas Copper, International Metal, Prime Materials Recovery, aluminum copper

CHICAGO — Three companies are vying for new and used copper rods for sale from bankrupt aluminum producer Ormet Corp.

Libertas Copper LLC, Leetsdale, Pa., has proposed buying about 1,120.4 tonnes (2.47 million pounds) of the rods for nearly $7.7 million. That represents the Comex copper price for March settlement minus 15 cents per....

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