KEEPING A good thing going. That is what Ormet Corp. employees did last week by overwhelmingly ratifying a new five-year labor agreement.

United Steelworkers Local 5724 members passed the new deal 517-184, just days prior to the expiration of the then-current pact. A week earlier, employees voted down the company’s first proposal.

The 11th hour accord comes as a relief to workers, corporate officials and the Ohio Valley in general.

Ormet is basking in the glow of success. Making that success even sweeter is that just a year earlier the Hannibal-based plant appeared headed for closure. Tough times were abounding and optimism was non-existent.

But an upswing in the marketplace combined with solid leadership and meaningful cooperation between union and management breathed new life into the aluminum producer. The rebirth continued to grow strong and stronger and as a result, 2005’s bankruptcy has been transformed into 2011’s prosperity.

Ormet shipped nearly 14 million tons more of aluminum the first three months of this year than in 2010. Moreover, profits were up $5.5 million during that same time period.

The current Ormet boon, however, was threatened by a work stoppage if contract ratification could not be reached.

A strike would not only prove damaging, it would also be senseless. Both union and management were enjoying monetary success, that may not continue should the workers opt to walk.

With such a scenario looming as an ominous backdrop, give and take re-entered the picture and a contract both union and corporate could live with was approved. We applaud both sides for having the company’s long-term interest in mind in reaching common ground.

Ormet has long been a key player on the Ohio Valley economic landscape.

With a new five-year agreement freshly minted, it should remain that way.