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A. Ownership of Oralco, Inc.
In 1986, petitioner, together with Robert E. Boyle (Mr.
Boyle), and William R. Strothotte4 (Mr. Strothotte), founded and
incorporated Oralco, Inc. (Oralco, or following a name change
after its reorganization, in 1994, Ormet),5 a Delaware
corporation with its principal place of business in Wheeling,
West Virginia. During 1990 through 1995, Oralco was a holding
company owning 100 percent of the stock of Ohio River Associates,
Inc. (ORA), and Oralco Management Services, Inc. (OMS). From
1992 through 1995, OMS served as the managing company for the
original Ormet. ORA owned 100 percent of the stock of Ormet
Corporation6 (Ormet, or following a name change after its
reorganization, in 1994, Ormet Primary Aluminum Corporation), a
corporation organized under the laws of Delaware with its
principal place of business in Hannibal, Ohio. ORA, like Oralco,
4 Mr. Strothotte was a metals trader and president of
Clarendon, Ltd., a firm investing in companies associated with
metals-trading.
5 In 1994, Oralco acquired the assets of Consolidated
Aluminum Corporation (Conalco). These assets consisted primarily
of rolling mills, a recycling plant, and a foil plant. As a
result of the Conalco acquisition, the names and structure of the
corporations changed. During 1994, Oralco changed its name to
Ormet Corporation, and the original Ormet Corporation changed its
name to Ormet Primary Aluminum Corporation.
6 In 1986, Mr. Boyle led a leveraged buyout to acquire
Ormet. Petitioner and Mr. Strothotte also participated in the
buyout, and in 1989, Mr. Boyle, petitioner, and Mr. Strothotte
became the sole owners of Ormet. Oralco was formed as the
holding company for Ormet.
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