Wednesday, August 20th, 2014
Current Time 9:15:19pm
Thursday, 26 June 2014 10:02

Bidding extended for former Ormet plant

Written by 

Only one offer made on Monroe County smelter, so far

MONROE COUNTY, Ohio -- The Ormet Corporation has extended its deadline to accept bids for the now-defunct aluminum smelting plant in Monroe County.

The company filed a notice of the 24-hour extension in federal bankruptcy court on Wednesday. At the time of the filing, only one entity - CCP-ORMT Acquisition - had expressed interest in buying the Hannibal plant at a price of $15 million. An auction will only take place if another entity makes a bid on the former Ormet facility.

Ormet won court approval to sell its other main asset, a Louisiana refinery, for $39.4 million in November.

The company announced in May that its 42 remaining 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 and lay off more than 1,000 workers after state utility regulators rejected portions of its proposed deal for reducing electricity costs.

Z. Daniel Barnett

Email This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Free Text Alerts
  • Twitter Feeds
  • Facebook Links

Get Text Message Local News Alerts and Local HS Sports  Scores on Your Cell Phone!

YourRadioPlace.com will alert you to the latest breaking LOCAL news, weather school closings and local HS sports scores for all the games we broadcast via Text Messages to your cell phone or PDA! Sign up now for this FREE service! (Message and Data Rates May Apply - See details under read more link)

AVC Local News Alerts:   Text keyword: AVCNEWS to 41411
Local HS Sports Scores:  Text keyword: AVCSPORTS to 41411

Message and data rates may apply. To Opt-out text STOP to 41411. For more information text HELP to 41411.

Follow us on Twitter!

AVC News - Daily Local Headlines and Alerts

AVC Sports - Local HS Sports Scores

Popular Articles...