Steel Products Prices North America
October 7, 2016
Magnetation Ending Operations
Written by Sandy Williams
Final approval was received from a federal bankruptcy judge on Thursday to wind down operations at Magnetation’s iron ore plant in Grand Rapids, MN and pellet plant in Reynolds, IN.
“Now, our focus shifts to safely shutting down the Pellet Plant and Plant 4 in order to preserve their value for a potential buyer of the plants,” said Magnetation President Matt Lehtinen in a statement. “We are grateful for the contributions of the hundreds and hundreds of people over the last five years on this pioneering effort. We are hopeful that a buyer of the plants will be secured so that all stakeholders can look forward to a better future.”
