Thursday, August 28th, 2014
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Wednesday, 21 May 2014 11:06

Ormet plant may have buyer, union says

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Details scant surrounding fate of Monroe County smelter

HANNIBAL, Ohio - Just as the Ormet Corporation announced that they will be laying off their last employees, union members report they could have a buyer.

On Tuesday, union officials said that a bid to buy the Monroe County aluminum smelter was submitted to a bankruptcy court in Delaware. Right now, the bid is awaiting a judge's approval. It is unknown what type of buyer has bid on the plant. Officials speculate it could be a scrap company or someone who wants to keep the plant open.

The company announced on Monday the last 42 employees would lose their jobs between May 31 and July 31, with a complete closure of the facility expected by the end of July. Ormet announced in October it would close the plant lay off more than 1,000 workers after state utility regulators rejected portions of its proposed deal for reducing electricity costs.

The plant was once the largest employer in the region.

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