Pennsylvania based Kennametal says it hopes to make a decision on the fate of its Lyndonville plant by March 28.
The plant employs approximately 80 people.
A spokeswoman for Kennametal said in an email that the firm is holding discussions with the United Steel Worker Committee at the plant over a reorganization plan that would close the facility and relocate operations.
The company says closing the plant would save about $2.2 million annually.
Kennametal is a global company with headquarters in Latrobe, Pa. Worldwide it employs nearly 14,000.