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Gold Rush in Ohio? Small Town Plays Big Role

Refinery in Jackson Sends Recycled Gold to Asia for Jewelry

JACKSON, Ohio – Building contractor Alan Stockmeister is known around town for his stewardship of local businesses: radio stations, a movie theater and a bank, for example. But nothing has been quite like his refinery just off Main Street, which has become an outpost in the multibillion-dollar global gold trade.

Ohio Precious Metals LLC owns one of five refineries in the U.S.-there are 73 world-wide-certified to melt scrap gold and pour it into ingots that can be traded on global markets. OPM’s more than 170 workers process several billion dollars a year in gold and silver headed for banks and jewelers in New York, London and Shanghai.

“Historically, gold refineries have been near production sites, mines or the big financial centers where gold is traded,” says David Jollie, a London-based analyst at gold trader Mitsui Precious Metals. Ohio…

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Coshocton brings home bacon with Kraft 300-job expansion

Kraft Foods in Coshocton is expected to hire 300 additional workers by 2018. Tribune file photo Kraft Foods in Coshocton is expected to hire 300 additional workers by 2018. (Photo: Tribune file photo)

Kraft Foods in Coshocton is expected to hire 300 additional workers by 2018. Tribune file photo Kraft Foods in Coshocton is expected to hire 300 additional workers by 2018. (Photo: Tribune file photo)

Coshocton was the perfect place for the Kraft to move its bacon production, representative Joyce Hodel said, because it already produces about two-thirds of…

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GE Aviation’s Peebles Test Operation Blows Out Candles Celebrating 60 Years of Operation

PEEBLES, OHIO – GE Aviation’s Peebles Test Operation celebrates 60 years of operation with the opening of a new $40 million indoor jet engine test facility.

The new indoor test facility (Site 5D), which will begin testing production engines by year end, was built to accommodate the growing volume of GE90 and GEnx engines as well as the new GE9X and LEAP engines. The new site is the eleventh test site at the 7,000-acre Peebles Test Operation, located near the foothills of the Appalachian Mountains in southeastern Ohio.

GE Aviation’s Peebles Test Operation began as a GE rocket engine test facility in 1954. After a year of operation, GE mothballed the site until 1965 when it helped with certification testing of the TF39 engine for the Lockheed C-5 Galaxy military transport aircraft. The site continued to grow during the next five decades and has seven outdoor…

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GE opens new engine testing facility in Ohio

ge-aviation GE Aviation has opened a new indoor jet engine test facility at its Peebles, Ohio site.

GE said the $40 million facility will begin testing production engines by the end of this year. GE90, GEnx , GE9X and LEAP engines will all be tested at the new facility in southeastern Ohio.

“Since 2006, GE has invested more than $160 million in facilities expansion at Peebles to manage our growing volume of development engine and production engine testing as well as final engine assembly of GE90 and GEnx engines,” GE’s Peebles plant leader Brian De Bruin said in a statement, noting that “the Peebles site will test 1,600 production engines along with 70 development engines and will assemble and ship more than 500 engines from our assembly area” in 2014.

From ATW, Air Transport World   |  November 5, 2014

By Aaron Karp

Photo:…

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