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Article: Damage to oil refineries drives up demand for specialty compressors.
- Article from:
- The Columbus Dispatch (Columbus, OH)
- Article date:
- September 7, 2005
CopyrightCOPYRIGHT 2005 The Columbus Dispatch. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Tom Matthews
Sep. 7--The misfortunes that Hurricane Katrina brought to the oil and natural-gas industry are creating business opportunities for a Mount Vernon company.
Ariel Corp., which employs 700 people, makes compressors that are used in natural-gas production, oil drilling and gasoline refining.
Because of severe damage to those operations in the Gulf of Mexico region, the company likely will see an uptick in orders, from replacement parts to new machinery.
"They probably stand to benefit from this," said Thorsten Fischer, a senior economist at Economy.com in West Chester, Pa. "It is almost certain that the infrastructure ...