Ormet Is Looking to Sell Smelter

HANNIBAL – Several months after shuttering its local plant and almost one full year since it filed for bankruptcy, Ormet Corp. has announced the smelter plant and surrounding property – including land on which natural gas currently is being produced – is up for sale.

The company, in noting the plant’s assets for a potential new buyer, is touting the ability to restart each of its closed smelter’s six potlines independently, as well as expected natural gas royalties from the adjacent land.

Calibre Group, the company’s investment bank, already has begun to reach out to prospective purchasers and investors and is assisting Ormet with other strategic initiatives that may add value for a potential buyer.