Max Fisher

@Max_Fisher ↗

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Last Checked March 12, 2023

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Fri May 20 21:46:52 +0000 2022

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Max Fisher @Max_Fisher

Still, any buyer would need to meet the approval of U.S. regulators (including at the State and Defense Departments), not to mention the Kremlin – as well as a Kremlin-linked firm with which Arconic has a joint partnership at the plant. Selling remained hypothetical at best. — PolitiTweet.org

Posted May 20, 2022

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Max Fisher @Max_Fisher

But Arconic was caught in rising geopolitical tensions. Western sanctions, and Russian restrictions on their business, narrowed their ability to operate. They began exploring options to sell the plant entirely. — PolitiTweet.org

Posted May 20, 2022

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Max Fisher @Max_Fisher

Why didn't Arconic just shut down production? It had a good reason: under Russian law, plant managers who disrupt strategic production can face up to 10 years in jailtime. Arconic is stuck with a plant whose profits it can't access, that it can't close, and maybe can't sell. — PolitiTweet.org

Posted May 20, 2022