The Colonial Metals plant on North Second Street was eerily quiet this week.
The company is reportedly appealing its property tax assessment on the main plant and other nearby buildings it owns, including an office building, and several houses, among other properties. If the assessment is lowered, the Columbia School District could lose up to $150,000 in tax revenue. In addition, Columbia Borough could lose up to $40,000 in tax revenue, as well as revenue from the Earned Income Tax, due to the loss of workers in the borough. The appeal process was reportedly begun some time before the shutdown announcement. It is unclear at this point whether the company has initiated bankruptcy proceedings.
There is currently no notification of the closing on the company's website, and information has been scarce. On Monday of this week, Columbia Spy noted that the plant was eerily quiet and the parking lot was empty. Phone calls by Columbia Spy to company president Craig Friedman have so far not been returned.
Colonial Metals Co., which opened in Columbia in 1946, was one of the nation’s five largest brass and bronze ingot makers. Friedman was named president and chief operating officer in 2015, after 12 years as executive vice president.