Ormet No More as Sale Is Finalized, Remaining Employees Sent Hom - WTRF 7 News Sports Weather - Wheeling Steubenville

Ormet No More as Sale Is Finalized, Remaining Employees Sent Home

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HANNIBAL, Ohio -

Aluminum manufacturer Ormet is no more as of Thursday morning after a deal with the plant's new owner has been finalized.

According to John Saunders, of the United Steelworkers Union, Niagara Worldwide is now the new owner of the plant, and the remaining 20 employees who were still working at the site were let go.

In late May, Niagara Worldwide purchased the Ormet plant at an auction for more than $25 million. At the time, the company said it was deciding on a plan of action for the plant as they find partners and investors.

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Earlier this year, Ormet announced that 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 its electricity costs.