The company will also temporarily lay off some hourly employees on June 3, following the furnace shutdown.
The company did not specify how many employees would be laid off.
Felman employed 250 hourly and salary workers when it celebrated the 60th anniversary of the New Haven plant last July.
The Foote Mineral Co. built the plant in 1952, and it has had a tumultuous history over the years. The plant closed and reopened numerous times as some owners declared bankruptcy and sold the plant to new owners.
The plant's most recent closure was in 2006, when Felman bought it for $20 million from bankrupt Highlander Alloys. Felman invested an additional $80 million to restart operations at the plant that year.
The company said it would use the shutdown to perform maintenance on each of its furnaces, shutting one down at a time on a rotating basis in order to conduct repairs.
The shutdown will last at least through September, when the company will re-evaluate market conditions. The company said if economic conditions were still poor, it would continue to leave the furnace offline "until conditions improve."
The company is also exploring other ways to boost efficiency and productivity at the plant. It plans to bring processing of its slag byproduct in-house, as part of that plan.
Contact writer Jared Hunt at busin...@dailymail.com or 304-348-4836.
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