Layoffs, Cryptocurrency, And Uncertainty At A Ukrainian Tycoon s Kentucky Factory
December 10, 2020 11:49 GMT
CCMA is one of only three U.S. plants producing ferrosilicon, an alloy of iron and silicon that is mainly used in the production of steel to enhance its strength. The company s three furnaces have an installed capacity of 100,000 metric tons.
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When CC Metals & Alloys (CCMA) halted operations in July, some workers at the 70-year-old plant in western Kentucky expected to be back on the job by the new year.
After all, the factory which produces an alloy of iron and silicon for the boom-and-bust steel industry has cut output and laid off employees during tough times over the decades, only to fire up idled furnaces and call workers back after a few months.