The US Bankruptcy Court gave an order approving the sale of certain assets of Ormet Corporation on January 6, 2014. The debtor has been authorized to sell certain assets to Alcoa Materials Management, Inc., for a purchase price of $11.05 million in cash plus other costs. The debtor's assets include 17,086 MT of Anodes located at debtor's Hannibal, Ohio location and 34,755 MT of Anodes located at debtor's Baltimore, Ohio location.

The buyer will pay $252/MT for the full volume of 17,086 MT at the purchase price of $4.31 million and $194/MT for the full volume of 34,755 MT at the purchase price of $6.74 million plus $3.03/MT for warehousing costs paid by Ormet for the month of January. Closing shall occur the week of January 6, 2014.