Max Fisher

@Max_Fisher ↗

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Last Checked March 12, 2023

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Fri May 20 21:49:11 +0000 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

Preceded By

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

Followed By

Max Fisher @Max_Fisher

On Tuesday, The Times alerted Arconic to our forthcoming story. The next day, Arconic's board voted to approve a press release announcing that the company would be seeking to sell its plant and exit Russia for good. It does not yet have a buyer. — PolitiTweet.org

Posted May 20, 2022