...And The Flames Singe CastleLeah Nathans Spiro
Joseph L. Castle II, chief executive of Castle Energy Corp., has been getting a harrowing crash course in international economics. Based in Radnor, Pa., Castle is 40% owned by Metallgesellschaft. A refiner that produces 126,000 barrels of oil a day, Castle is especially vulnerable to Metallgesellschaft's woes because MG Corp., the German conglomerate's U.S. unit, is Castle's only customer. "We're sort of the other side of what happens to them," says CEO Castle. If Metallgesellschaft collapsed, Castle would have a hard time surviving as an independent company.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Smartphones Are Killing Americans, But Nobody’s Counting
- Turns Out It Will Be Congress’s Fault When Stocks Crash
- Why a Pub in the Middle of Nowhere Was Named the World’s Best Restaurant
- Facebook and Google Helped Anti-Refugee Campaign in Swing States
- Ford to Take $267 Million Hit From Recall of F-Series Trucks