Ormet Corp. Files for Chapter 11 Protection
Ormet Corp., Wheeling, W. Va., and its subsidiaries have filed voluntary petitions for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Ohio. The company is still open for business and made the decision to file so it could complete its financial reorganization and review all its operations to look for ways to enhance operational efficiency and reduce costs. Ormet operates in five states and produces aluminum products for the fabrication, extrusion and conversion markets. The subsidiaries involved in the filing are Ormet Primary Aluminum Corp., Ormet Aluminum Mill Products Corp., Specialty Blanks Holding Corp., Specialty Blanks Inc., Formcast Development Inc. and Ormet Railroad Corp.