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Monday, June 20, 2011

American Electric Power Company Will Close Five Plants and Lay Off 600

The American Electric Power Company, Inc., plans to close five plants in the U.S. and lay off 600 workers, as a result of new rules for coal-fired power plants proposed by the U.S. Environmental Protection Agency.

The EPA is proposing strict regulations to limit emissions of mercury, lead and other toxins from coal-fired plants could take effect in 3-1/2 years.  AEP deems the timeline as "unrealistic."  As a result, the company would have to close plants in Ohio, West Virginia and Virginia by the end of 2014 and retire generating units at plants in five states by the end of 2012.

Information is provided by the Plant Prospector.  For more information, click on this link http://bankrupt.com/periodicals/pp.html.

The Plant Prospector is a weekly e-mail service that identifies national, regional, and local plants and businesses in transition through layoffs, closings, and work force reductions.  A reduction in the number of employees is an indication of a current or imminent change in the operations of an enterprise and is invaluable in identifying companies including private firms, small public companies, and subsidiaries of major corporations that are in flux.  Plant Prospector is an ideal prospecting tool for firms that provide services to businesses in transition, such as temporary employment agencies and outplacement firms, and for companies whose business may be affected by change, such as suppliers, professional firms, and insurance companies.

2 comments:

  1. Which is more important? Environment or jobs?

    ReplyDelete