Lorain: Ford Plant Purchased by Developer

Lorain, OH - Good news for the city of Lorain.

The city's mayor says the redevelopment of a 280-acre closed Ford plant will lead to industrial jobs.

But Mayor Craig Foltin says more details may be available Wednesday, when the city will host an announcement including the new owner.

The plant on Lorain's western edge closed December 23rd last year. That's when the last Econoline van made there rolled off the assembly line. Econoline van production moved to nearby Avon Lake at Ford's Ohio Assembly Plant.

The car company yesterday confirmed the sale of the property west of Cleveland to Stuart Lichter and his Industrial Realty Group of Downey, California.

Financial terms of the transaction have not been disclosed.