Magnetation shuts down operations at Reynolds plant

WHITE COUNTY, Ind. (WLFI) — Last ditch efforts to keep the doors open at the Magnetation plant in Reynolds were unsuccessful.

The company announced Thursday operations at its pellet plant in White County would stop on or about Oct. 7, 2016.

The agreement between Magnetation and AK Steel Pellet to purchase the company was terminated after a bankruptcy judge ruled to approve the Global Settlement Agreement.

The company said local management teams will be contacting all employees with plans...

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