Current:Home > MyCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -Elevate Profit Vision
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
Algosensey View
Date:2025-04-08 05:35:47
CHARLESTON, W.Va. (AP) — Cleveland-Cliffs announced Monday it will produce electrical transformers in a $150 million investment at a West Virginia facility that closed earlier this year.
The company hopes to reopen the Weirton facility in early 2026 and “address the critical shortage of distribution transformers that is stifling economic growth across the United States,” it said in a statement.
As many as 600 union workers who were laid off from the Weirton tin production plant will have the chance to work at the new facility. The tin plant shut down in February and 900 workers were idled after the International Trade Commission voted against imposing tariffs on tin imports.
The state of West Virginia is providing a $50 million forgivable loan as part of the company’s investment.
“We were never going to sit on the sidelines and watch these jobs disappear,” West Virginia Gov. Jim Justice said in a statement.
The Cleveland-based company, which employs 28,000 workers in the United States and Canada, expects the facility will generate additional demand for specialty steel made at its mill in Butler, Pennsylvania.
In a statement, Lourenco Goncalves, Cleveland-Cliffs’ president, chairman and CEO, said distribution transformers, currently in short supply, “are critical to the maintenance, expansion, and decarbonization of America’s electric grid.”
The tin facility was once a nearly 800-acre property operated by Weirton Steel, which employed 6,100 workers in 1994 and filed for bankruptcy protection in 2003. International Steel Group bought Weirton Steel in federal bankruptcy court in 2003. The property changed hands again a few years later, ultimately ending up a part of Luxembourg-based ArcelorMittal, which sold its U.S. holdings to Cleveland-Cliffs in 2020.
Weirton is a city of 19,000 residents along the Ohio River about 40 miles (64 kilometers) west of Pittsburgh.
veryGood! (6219)
Related
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Bills GM says edge rusher Von Miller to practice and play while facing domestic violence charge
- The US is poised to require foreign aircraft-repair shops to test workers for drugs and alcohol
- Shannen Doherty says she learned of ex's alleged affair shortly before brain tumor surgery
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- When is St. Nicholas Day? And how did this Christian saint inspire the Santa Claus legend?
- Escaped kangaroo punches officer in the face before being captured in Canada
- Republican prosecutor will appeal judge’s ruling invalidating Wisconsin’s 174-year-old abortion ban
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Biden’s campaign will not commit yet to participating in general election debates in 2024
Ranking
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- NCAA President Charlie Baker says new subdivision would allow schools to do more for athletes
- Colorado Supreme Court will hear arguments on removing Trump from ballot under insurrection clause
- Want to read Stephen King books? Here’s where to start.
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- 4 more members of K-pop supergroup BTS to begin mandatory South Korean military service
- Reba McEntire roots for her bottom 4 singer on 'The Voice': 'This is a shame'
- Arizona man charged over online posts that allegedly incited Australian attack in which 6 died
Recommendation
Arkansas State Police probe death of woman found after officer
Why Yellowstone Creator Taylor Sheridan Is Suing Actor Cole Hauser
Randy Orton reveals how he came up with the RKO, and how the memes helped his career
US military grounds entire fleet of Osprey aircraft following a deadly crash off the coast of Japan
Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
Anne Hathaway and Emily Blunt's Devil Wears Prada Reunion Is Just as Groundbreaking as You Imagine
Why Lenny Kravitz Is Praising Zoë Kravitz's Fiancé Channing Tatum
Sheryl Lee Ralph Sets the Record Straight on Rumors She Doesn't Live With Husband Vincent Hughes