HANNIBAL, OH – A Wisconsin-based company placed a $25.25 million bid on the closed Ormet plant in Hannibal, Ohio during a private auction Friday. Niagara Worldwide, Inc. had the winning bid to purchase the plant’s assets.

The aluminum plant, which is just across the Ohio River and north of New Martinsville, West Virginia, closed last October after not receiving electricity rate relief. Ormet workers and the United Steelworkers Union have expressed hope the company with the high bid would be interested in reopening the plant.

Niagara Worldwide President Eric Spirtas said Friday his company would work to do the right thing “as we try to engage in actions that will create jobs and services that support the community and local industry.”

Niagara Worldwide’s website describes the company as an international firm that specializes in “Trading, Mining, Consulting, Construction Services, Demolition, Environmental Remediation along with “Full” scale Property Development Services.”

The website also describes the company’s mission: “While performing our various trade and professional disciplines, Niagara Worldwide strives to be the preferred full service property development company that educates, trains, and invests in local, state and regional resources, inspiring community growth through the re-purposing of idle assets, revitalizing area economics.”

The company is based in Niagara, Wisconsin. Meetings about the purchase are expected soon.

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Comments

  • Hillbilly

    If they could figure a way to keep the union's and the EPA out they could be a very successful company .. Those two are job KILLERS !!!

  • Wv_pat

    I hope the reopen and reopen union
    Some nonunion scab loving people think we Arare under worked over paid. The workers took concessions for years as had other plants in this valley just to keep our jobs. Mr. Nonunion have you ever worked in a place where the temp of the pot your working on is 1300 degrees I think not. Go back to your hole that you crawled out of.

    • Hillbilly

      Ormet was always the highest paying jobs in the valley , None on the W.Va. side even came close . Own Up !!!

  • northforkfisher

    It will be nice to have the new jobs as long as they Don't get these big tax deals that never get paid.

  • Fred

    The USW has caused the shutdown of several industries in my area. In a 300 mile stretch of the Ohio River Valley they have destroyed literally thousands of jobs over the last 30 years. Unions breed mediocrity and violence and the USW deserves all the misfortune that gets piled upon it.

  • Rick S.

    The second paragraph of this story said that the plant closed after not receiving electricity rate relief.

    Actually, the Ohio Public Utilities Commission offered very generous electricity rate relief to Ormet, which would have been subsidized by all the other AEP customers throughout the state of Ohio. However, Ormet decided to close the plant because the relief offered was not deemed enough by Ormet.

    • Brandon

      It probably was not enough to offset over paid and under worked union workers. I'm sure China can make aluminum much cheaper with cheap labor, less environmental regulations and cheap coal powered electricity!

  • ViennaGuy

    It will be interesting to see what comes of this ...