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Print[Ferro-Alloys.com] Felman Production LLC has started a three-month shutdown at its West Virginia ferroalloys plant.
In May, Felman announced plans to temporarily idle one of three electric arc furnaces in New Haven.
But Felman officials said Friday that continued deterioration in market conditions after the May announcement led to the decision to shut the 211-worker plant down effective immediately.
Felman is a subsidiary of Miami-based Georgian American Alloys Inc.
"While it pains us to make this very difficult decision, after exploring a variety of options we concluded it is no longer economically viable to operate in the current market environment," said Georgian CEO Mordechai Korf.
The Charleston Daily Mail reports the company plans to re-evaluate market conditions within the next two months and decide whether to restart operations.
T
he company plans no layoffs during that time to comply with labor laws and continue ongoing furnace maintenance. A processing unit at New Haven will remain operational during the shutdown, the company said.
The plant produces silicomanganese, a deoxidizer and alloy additive used to manufacture steel. Felman and the United Steelworkers agreed on a 42-month contract in January.
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