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Cleveland-Cliffs held a ribbon-cutting ceremony for its new Stainless Steel Bright Annealing Line at Coshocton Works in Coshocton, OH. Hosted by Cleveland-Cliffs Chairman, President & CEO Lourenco Goncalves, the event was attended by key elected Ohio officials, including Governor Mike DeWine, Senator Jon Husted, and Secretary of State Frank LaRose, as well as Cleveland-Cliffs’ executives, employees, UAW representatives and key customers. The new annealing line, a $150 million capital investment, will supply premium stainless steel for high-end automotive and critical appliance applications. It uses a 100% hydrogen atmosphere, replacing the conventional acid-based processing, and includes a hydrogen recovery unit to use a 50/50 mix of new and used hydrogen in the process. An on-demand version of the ribbon-cutting ceremony is available on Cleveland-Cliffs’ corporate YouTube channel: https://www.youtube.com/@ClevelandCliffsInc Shown in photo (L-R): Coshocton Works General Manager Troy Balo, Secretary of State Frank LaRose, Cleveland-Cliffs Chairman, President & CEO Lourenco Goncalves, Governor Mike DeWine, Senator Jon Husted, and UAW President Local 3462 Kurt Knicely.
Cleveland-Cliffs announced that it has successfully completed its acquisition of Stelco Holdings Inc. The addition of Stelco enhances Cliffs’ position as the largest flat-rolled steel producer in North America, diversifies Cliffs’ end-markets and expands its geographical presence in Canada. Stelco will continue operations as a wholly-owned subsidiary of Cliffs, preserving the name and iconic Canadian legacy of the business.
Cleveland-Cliffs announced that it would establish a new electrical distribution transformer production plant in Weirton, West Virginia. Repurposing space left by the indefinite idling of its Weirton tinplate mill last year will result in employment opportunities for 600 USW-represented employees from that operation. The new plant will generate additional demand for American-made grain-oriented electrical steel (GOES), exclusively produced in the United States by Cleveland-Cliffs Butler Works. Additional demand for GOES will ultimately result in additional production of GOES at Butler Works, increasing the possibility of more job opportunities for the UAW-represented workforce in Butler there. The new transformer plant will also consume stainless and carbon steel produced by Cliffs in several other of its steel plants in Ohio, Michigan and Indiana. As part of the announcement, Lourenco Goncalves hosted a press conference with West Virginia Governor Jim Justice and other elected officials in Weirton. The total capital investment is $150 million, of which $50 million (or one third) will be granted by the state of West Virginia to Cliffs. Cliffs expects the new plant to come online in the first half of 2026.
Cleveland-Cliffs entered into a definitive agreement to acquire Stelco Holdings Inc., an integrated steelmaker headquartered in Ontario. Stelco comprises two operational sites -- Lake Erie Works, the newest and lowest-cost integrated steelmaking facility in North America, and Hamilton Works, a downstream finishing and cokemaking facility. Stelco produces approximately 2.6 million net tons of flat-rolled steel annually, primarily hot-rolled steel to service center customers. Combining the capabilities of Cleveland-Cliffs and Stelco would double Cleveland-Cliffs’ current exposure to the flat-rolled spot market, resulting in cost advantages in raw materials, energy, healthcare, and currency. The addition of Stelco would also diversify Cleveland-Cliffs’ customer base further into the construction and industrial sectors.
Cleveland-Cliffs released its Sustainability Report 2023. The Sustainability Report 2023 details how Cleveland-Cliffs’ steel products help advance the transition to a low-carbon economy, providing updates and highlights related to Cleveland-Cliffs’ most important sustainability topics, including climate and GHG emissions, water, waste, talent management, labor and community relations, health and safety, and corporate governance. The Report includes a Performance Metrics table that presents 3-year trended data on a comprehensive set of sustainability metrics. The Report is available for download in the “Sustainability” section of the Cleveland-Cliffs website.
The Alliance of American Manufacturing (AAM), with the support of the United Steelworkers, recently produced "Relighting the Flame," a documentary film highlighting how America's new generation of modern steelworkers are thriving and growing the steel industry in the United States. Cleveland-Cliffs is the featured steel company, , which showcases employees -- and their families -- from the Burns Harbor, Cleveland Works and the Research and Innovation Center. The film premiere is available on AAM's YouTube channel.
