HANNIBAL, Ohio (AP) — A large Ohio aluminum manufacturer says it needs even deeper discounts from American Electric Power to avoid layoffs.
Ormet Corp., located near Hannibal in eastern Ohio, has benefited from a unique electric-rate subsidy that has reduced its costs by more than $150 million since 2009. It's paid for by all American Electric Power customers.
But The Columbus Dispatch (http://bit.ly/US8GVE ) reports that the largest employer in the region wants a bigger break from the power company or all 1,000 or so workers could lose their jobs.
The company says the plant is suffering because of low aluminum prices and a series of rate increases by the power company.
American Electric Power wouldn't address the situation with Ormet beyond a statement saying it would continue to support the company.
Information from: The Columbus Dispatch, http://www.dispatch.com