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.
About Felman Production, LLC:
Founded in 2006 and headquartered in New Haven, WV, Felman Production, LLC is a leading producer of high-quality ferrosilicomanganese, an essential deoxidizer and alloy additive used in the manufacturing of steel. When utilizing multiple furnaces in around-the-clock operations, the company has the capacity to produce approximately 105,000 metric tons of silicomanganese annually at its 190 plus acre facility. Felman Production’s products are distributed to steelmakers across North and South America through its sister company Felman Trading, Inc., an international ferroalloys trading company. Felman Production is one of only two companies in the United States that produces critically important silicomanganese. Felman Production is a wholly-owned subsidiary of Miami-based Georgian American Alloys, Inc. For more information, please visit: www.gaalloys.com.