07 JUNE 2011www.metalbulletin.com
Ormet targets bauxite, legacy assets
Edited by : AL CIRCLE
1 min read
Primary aluminum producer Ormet Corp. has its eyes set on growth, with a push into bauxite mining or the purchase of competitors’ aging assets emerging as two possibilities on its radar, the company’s top executive told AMM.
Primary aluminum producer Ormet Corp. has its eyes set on growth, with a push into bauxite mining or the purchase of competitors’ aging assets emerging as two possibilities on its radar, the company’s top executive told AMM.
"We are a single smelter, single refinery. For us in the future, we have to grow," Mike Tanchuk, Ormet’s chief executive officer, said Monday on the sidelines of AMM’s Aluminum Summit in New York. "We have to get stronger as a company to be able to get more out of the good times and weather the bad times better."
Several different growth opportunities could make sense for the Hannibal, Ohio-based company, Tanchuk said, with a move further upstream as one attractive option.
"We are a single smelter, single refinery. For us in the future, we have to grow," Mike Tanchuk, Ormet’s chief executive officer, said Monday on the sidelines of AMM’s Aluminum Summit in New York. "We have to get stronger as a company to be able to get more out of the good times and weather the bad times better."
Several different growth opportunities could make sense for the Hannibal, Ohio-based company, Tanchuk said, with a move further upstream as one attractive option.
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