COLUMBIANA COUNTY Port authority will try to buy Sterling China to save 90 jobs

In 2003, the pottery owed National City for loans of $293,591 and $859,263.
By NANCY TULLIS
VINDICATOR SALEM BUREAU
WELLSVILLE -- Sterling China USA is headed for the sheriff's auction block, and Columbiana County Port Authority officials hope their bid for the pottery will be one that saves 90 jobs.
Tracy Drake, port authority executive director, said the agency wants to buy the pottery operation then lease it back to the current owner, Castle Wells Management Inc. of New York, now doing business as Sterling China USA.
Drake said the port authority hopes to buy the pottery as an occupied, working company. He said the plant would continue to operate, saving jobs and preparing the company for a stable economic future.
He said the port authority wants to save jobs and create a climate for more. He believes that with financial stability, the pottery's 90 workers could keep their jobs and 50 additional workers could be added over the next three years.
Funding in deal
Part of the port authority's deal to purchase the pottery then lease it back to the current owners would include funding from the Ohio Department of Development to help stabilize the pottery's finances, he said.
National City Bank filed for foreclosure of Sterling China in Columbiana County Common Pleas Court in 2003. The court ruled the company owed National City for loans of $293,591 and $859,263.
Columbiana County Sheriff's Department deputies are processing the pottery for foreclosure and a sheriff's sale, at which time the authority and others can bid on the property.
Deputies inventoried, photographed and tagged the equipment at the plant Wednesday, but the plant continues to operate.
Deputies arranging the sheriff's sale could not be reached for further information on the foreclosure process or a sale date.