HANNIBAL, OH -- A bankruptcy judge has ruled on the potential sale of the Ormet plant and the fate of its retirees. In a press release issued by the company, they say the orders will clear the way to permit its exit from bankruptcy.

In the orders issued Friday, the Bankruptcy Court rejected the request of the United Steelworkers of America to allow third-party buyers to look into purchasing the Ormet plant.

"We are very pleased," said Ormet's Chief Executive Officer Michael Williams. "The court's orders put to rest any uncertainty about Ormet's future, and should permit us to exit bankruptcy in the near future."

The judge also handed down a motion to provide retiree benefits through the Voluntary Employee Benefits Association (VEBA). Those with the union say its a positive step for retirees.

"The VEBA is a proposal by the union," said USWA spokesperson Denny Longwell. "Ormet has fought us on that all the way through the negotiations. The VEBA is good for the union people."

According to their press release, the company says they have cleared their final hurdle for overcoming bankruptcy, but the union says they do not see it that way.

"Let me tell you, this fight is far from over," said Longwell. "Ormet may be smiling and licking their chops, but we're not giving up and we're not giving in."

Meantime, the judge also passed a ruling to require both sides of the labor strike to set up talks twice a week.

Calls to Ormet for additional comment were not immediately returned.

Jill Del Greco, NEWS 9