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FELMAN PRODUCTION TO RESTART ONE FURNACE, EFFECTIVE IMMEDIATELY

NEW HAVEN, W. Va. (July 1, 2014) – Felman Production, LLC (“Felman” or the “Company”) today announced that it will immediately begin to resume plant operations following an agreement that it has reached with the Appalachian Power Company (“APCo”) regarding a market variable electrical rate. The rate was a necessary component in enabling the ongoing economic viability of Felman’s New Haven manufacturing site.  The Company plans to fully resume production in two of its three furnaces by the end of July.

Commenting on the plant restart, Felman’s Chief Executive Officer Mordechai “Motti” Korf said, “I am very pleased that we have been able to successfully restart operations. Our special rate provides us with the necessary flexibility to continue operating during periods of weak commodity prices, while ensuring that we pay more than 100 percent of variable costs over the life of the contract. I want to acknowledge everyone in the local community that provided their positive feedback and support during the plant shutdown, and I want to thank the West Virginia Public Service Commission, APCo, and the United Steelworkers Local Union 5171 for their efforts to strengthen Felman’s long term viability. We look forward to continuing to provide our customers with high-quality product at competitive market prices.”