Magnetation LLC, which has been in bankruptcy since May 2015, notified employees at its Reynolds plant in late August to prepare for a potential shutdown at the end of September. Staff photo by John Terhune
LAFAYETTE — The Magnetation pellet plat in Reynolds will soon shut its doors, leaving its staff of 165 out of employment.
Th news comes after Magnetation LLC announced Thursday that a bankruptcy court authorized a motion to shutter operations and dissolve the company's purchase agreement with AK Steel. A facility in Grand Rapids, MN will also cease operations.
Katherine Burks, the plan's human resources representative, said she did not know when employees would be given notice. She declined to comment further about the situation.
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