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.