Updated Wed, Apr 23, 2014 9:28 am
Felman Production CEO Mordechai Korf says the idled Mason County, West Virginia manufacturer is one step closer to resuming operations.
Members of United Steelworkers Local 51-71 approved modifications to their contract with the company last week.
Korf says that the modifications strengthen the New Haven plant's long-term viability.
Details of the changes weren't released.
The plant produces silicomanganese. It ceased operations in July 2013 and laid off more than 140 workers.
Earlier this month, the West Virginia Public Service Commission authorized a special electricity rate plan for the company. The plan enables Felman to buy electricity from Appalachian Power at as much as $9 million a year off its full rate.
Opponents of the special rate have asked the PSC to reconsider its decision.