Ohio, company reach settlement over unpaid loans

COLUMBUS, Ohio (AP) — The state of Ohio says it's reached a $1.5 million settlement with a with a Toledo manufacturing company for unpaid loans.

Ohio's attorney general says Buckeye Silicon failed to meet the state's loan repayment schedules and defaulted on almost $2.7 million in taxpayer-funded loans.

The company sought to produce polysilicon for use in solar panels. It obtained loans in 2010 through the state's Development Services Agency and the Ohio Air Quality Development Authority.

Attorney General Mike DeWine said in a written statement that the settlement and payment were "significant," because these types of debts can be difficult to recover.

Phone numbers listed for the company were not in service.

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