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Felman Production to restart idled plant in New Haven following new power rate agreement
Reported by: Associated Press
Wednesday, July 2, 2014 7:19 AM EDT
NEW HAVEN, W.Va.
Felman Production plans to restart its idled plant in Mason County by the end of July.
Felman announced the restart Tuesday in a news release. The announcement followed an agreement between Felman and Appalachian Power on a special electricity rate for the plant.
The West Virginia Public Service Commission authorized a special electricity rate plan for the company in April. The plan links the company's electricity rate to the price of silicomanganese and other raw materials.
FelmanCEO Mordechai "Motti" Korf says the special rate gives the company flexibility to operate the plant when commodity prices are weak.
Felman idled the plant in 2013 because of poor market conditions.