Ormet Auction Is Set

HANNIBAL – Eric J. Spirtas said old pots once used for making aluminum are no longer needed at the Ormet Corp. site, as he plans to auction off virtually everything left in the buildings to make room for “international energy groups.”

“We are not naming the names yet,” Spirtas, president of Niagara Worldwide, said Thursday. “We are moving forward to get the old stuff out of here to make way for the new. We need to get started before we can finish.”

Spirtas’ company purchased the Monroe County facility out of bankruptcy for $25.25 million in June. As recently as Aug. 21, he said Niagara was in discussions with three companies who may be interested in restarting the plant that previously employed nearly 1,000 workers, but said last month this would not happen.

Emphasizing the 1,700-acre plant site’s location in the heart of the Marcellus and Utica shale natural gas drilling rush, Spirtas said the auction, set for Tuesday-Friday, is the best way for Niagara to clear space for new development at the plant. He said the pots, forklifts, loaders, dozers, tractors, cranes, tools, computers and various other items must all leave the site he renamed Hannibal Development Partners.

“With 2.5 million square feet of plant equipment, Hannibal Development Partners had to bring in several of the largest auction companies in the nation. Rabin Worldwide, Capital Recovery Group and PPL Auction have proven to be a tremendous asset in organizing, lotting and preparing for such an enormous event,” Spirtas said.

Spirtas said he believes the goods set for auction are worth “multi-millions of dollars.” He said the remaining property can be used to house and support businesses engaged in hauling frack sand, limestone, guar gum, hydrochloric acid and other products used in the oil and natural gas industries.

Spirtas already has committed to move and store millions of tons of essential material through its port operations, which will remain in service at the plant.

From The Wheeling Intelligencer  |  October 31, 2014

By CASEY JUNKINS Staff Writer, The Intelligencer / Wheeling News-Register

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