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Orbite promotes executives, seeks funding from Quebec

Keywords: Tags  Orbite Aluminae, Denis Arguin, Denis Preimeau, Yves Noel, Glenn Kelly, financing, Investment Industry Regulatory Organization of Canada, aluminum alumina

CHICAGO — Orbite Aluminae Inc. has made changes to its management team as it explores financing options with the province of Quebec.

The Montreal-based company, which produces alumina from aluminous clay rather than from traditional bauxite, has promoted Denis Arguin to vice president of engineering and operations. He replaces Denis Primeau, who left the company earlier this month.

In addition, Yves Noël has been named vice president of business development after previously serving as chief marketing officer.

Meanwhile, trading of Orbite shares on the Toronto Stock Exchange was halted for just over two hours Oct. 11 by the Investment Industry Regulatory Organization of Canada.

Orbite said the move came after heavy trading volume, and noted that the company was in discussions with the government of Quebec "regarding financing alternatives." The talks are in the early stages and remain subject to conditions that "have yet to be satisfied and may or may not come to fruition," the company said.

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