Ormet Officially Done in Hannibal as Niagara Worldwide Takes Over

Niagara Worldwide officially took ownership of the former Ormet Corp. aluminum reduction plant in Hannibal on Thurs., July 31. The changeover marks the end of Ormet Corp., its longtime status as a top Monroe County employer, and the jobs of the handful of employees that had made it through all layoffs.

Niagara Worldwide purchased the Ormet Corp. facility in Hannibal on June 27 for the amount of $25.25 million. The sale was later approved by bankruptcy court.

Through a release submitted to PRWeb, Niagara Worldwide has stated efforts to promote the facility to aluminum manufacturers. Following are two excerpts from that release:

“We are talking to the World,” says Eric J Spirtas, President of both Niagara Worldwide (site developer) and Hannibal Development Partners (the new site owner). “In an effort to determine global interest in this specialized facility, we are communicating with every aluminum related business group worldwide to share with them what sets here in Hannibal.”

Spirtas also mentioned a possibly larger site opportunity unrelated to the aluminum market. “We are in negotiations with three very large oil and gas service providers that work hand-in-hand with the oil drilling, gas processing and fuel transportation markets now imbedded in this region due to the Utica and Marcellus shale exploration.” If this effort works for the site there could be multiple uses for the 12 miles of rail, 50 barge docking port and pneumatic loading and unloading systems at the site.

To view the PRWeb release in its entirety, go to: http://www.prweb.com/releases/2014/08/prweb12068210.htm