Ormet Confirms WARN Notices

Thu. July 30, 2009; Posted: 01:09 PM

HANNIBAL, Ohio, Jul 30, 2009 (BUSINESS WIRE) -- ORMT | Quote | Chart | News | PowerRating -- Ormet Corporation, an independent U.S. producer of aluminum, issued the following statement today. Ormet CEO Mike Tanchuk confirms that the company has issued a WARN notice to 833 hourly and 149 salaried employees as is required by law. However, at this time no definitive decisions have been made as to the extent of the layoffs. The number of employees that will be affected is, as of yet, undetermined. We recognize the challenging conditions we are facing and the difficult economic environment in which we are operating, and we want to assure everyone that we are doing everything in our power to protect the company, our workforce, and the communities in which we operate.

ABOUT ORMET: Headquartered in Hannibal, Ohio, Ormet Corporation is a major U.S. producer of aluminum. Ormet employs approximately 1,000 people from across Monroe County, Southeastern Ohio, and parts of West Virginia. Its aluminum smelter has an annual aluminum production capacity of approximately 266,000 metric tons.

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are based on current expectations, and the actual results and the timing of certain events could differ materially from those projected in or contemplated by these forward-looking statements due to a number of factors. Readers are cautioned that Ormet's business is subject to numerous significant risks and uncertainties, including those discussed in Ormet's 15c2-11 information and disclosure statements for the year ended December 31, 2008 and the quarter ended March 31, 2009 (copies of which are available at Ormet's website at www.ormet.com).

Headquartered in Hannibal, Ohio, Ormet Corporation is a major U.S. producer of aluminum. Ormet employs approximately 1,000 people. Its aluminum smelter based in Hannibal, Ohio has an annual aluminum production capacity of approximately 266,000 metric tons. For more information, visit Ormet's website at www.ormet.com.

SOURCE: Ormet Corporation

Ormet Corporation 
Linda King, 412-428-0050 or 412-296-2284

For full details for ORMT click here.

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