A historic steel foundry on the south side of Columbus, Ohio will be transformed into a mixed use facility, according to the new owner.
“What we’re envisioning is a clean new use of the property that will revitalize the area and bring in new jobs,” said Jonathan Reich, a CEO for Reich Brothers Holdings, LLC.
Reich Brothers officially acquired Columbus Castings in Delaware federal court Tuesday after placing a winning bid of more than $30 million.
The foundry, which manufactured parts for freight rail and passenger car as well as mining and construction equipment, dated back to the 1880’s, according to the company website.
Columbus Castings had a long history of Environmental Protection Agency violations mostly due to emissions from unmaintained equipment.
The closure was a stunning reversal for a company that in 2014 pledged to add 550 jobs over three years with help from state and city tax incentives, an announcement that drew the mayor and governor of Ohio. The plant’s loss was seen as a major blow to redevelopment efforts on the city’s south side.
Columbus Castings was a vestige of the city’s manufacturing past, operating under various owners since the late 19th century.