July 27, 2016 6:09 PM ET

Metals and Mining

Company Overview of Ormet Aluminum Mill Products Corporation

Company Overview

On December 18, 2014, Ormet Aluminum Mill Products Corporation went out of business as per its Chapter 11 liquidation filing under bankruptcy. Ormet Aluminum Mill Products Corporation manufactures aluminum flat rolled, coated, and foil products. The company was incorporated in 1994 and is based in Hannibal, Ohio. Ormet Aluminum Mill Products Corporation operates as a subsidiary of Ormet Corporation.

State Route 7

Hannibal, OH 43931

United States

Founded in 1994

Phone:

740-483-1341

Fax:

740-483-2806

Key Executives for Ormet Aluminum Mill Products Corporation

Ormet Aluminum Mill Products Corporation does not have any Key Executives recorded.

Ormet Aluminum Mill Products Corporation Key Developments

Motion for Asset Sale Approved for Ormet Corporation

The US Bankruptcy Court approved the sale of remaining assets of Ormet Corporation on October 23, 2014. As per the order, debtor has been allowed to sell remaining assets to Smelter Liquidation, LLC for credit bid of all of the allowed post-petition secured claim, $7.50 million of the allowed pre-petition secured claims and all of the secured diminution claim, as per the agreement dated September 30, 2014.

Eleventh Amended DIP Financing Approved for Ormet Corporation

The US Bankruptcy Court gave an order approving the amendments to DIP financing agreement for Ormet Corporation on August 27, 2014. As per the order, the debtor has been authorized to obtain loans in an additional amount of $1.5 million from Wayzata Investment Partners LLC. The total DIP financing obtained by the debtor would now be in the amount of $116.5 million. The DIP facility would now mature on October 31, 2014 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier.

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