August 21, 2013 05:10 PM Eastern Daylight Time

Felman Production, LLC Announces Layoffs

NEW HAVEN, W.Va.--(BUSINESS WIRE)--Felman Production, LLC (“Felman” or the “Company”), which temporarily suspended operations on June 28th due to challenging ferrosilicomanganese market conditions, today announced it has been forced to lay off approximately 100 employees, effective August 31, 2013.

Felman has been carefully monitoring market conditions since its shutdown and its decision to further reduce its workforce is a direct result of persisting low ferrosilicomanganese prices and high manufacturing costs. The Company previously laid off 38 employees in May. Approximately 100 employees will remain employed at the plant following these latest layoffs. Felman will continue to operate its slag processing operation.

Felman is currently reviewing a number of options to ensure the company’s long term viability. The plant will continue to implement cost control initiatives and conduct plant-wide maintenance in preparation to restart its furnaces once the market environment has improved.

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