EDA approves $7M package to save Clarksburg plant

CHARLESTON, W.Va. -- The state Economic Development Authority has approved a $7 million financing package officials say should help keep a Clarksburg coil plant operating. Precision Coil announced earlier this year it planned to close the aluminum plant if it couldn't find a buyer. The company delayed laying off the plant's 100 workers earlier this month while it negotiated with a potential buyer. The EDA endorsed the financing deal on Thursday. EDA Executive Director David Warner said IAC Holdings LLC was a potential buyer. He said IAC Holdings was formed by Marco International, which specializes in minerals, metals and materials.