Current:Home > StocksCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -AssetLink
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-24 14:09:49
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! (6)
Related
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Papua New Guinea landslide survivors slow to move to safer ground after hundreds buried
- Graceland foreclosure: Emails allegedly from company claim sale of Elvis' home was a scam
- Chiefs' Isaiah Buggs facing two second-degree animal cruelty misdemeanors, per reports
- RFK Jr. closer to getting on New Jersey ballot after judge rules he didn’t violate ‘sore loser’ law
- France’s Macron urges a green light for Ukraine to strike targets inside Russia with Western weapons
- Pope Francis apologizes after being quoted using homophobic slur
- Authorities kill alligator after woman's remains were found lodged inside reptile's jaw
- From bitter rivals to Olympic teammates, how Lebron and Steph Curry became friends
- Trial postponed in financial dispute over Ohio ancient earthworks deemed World Heritage site
Ranking
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- The nation's top hurricane forecaster has 5 warnings as dangerous hurricane season starts
- Bebe Rexha Details the Painful Cysts She Developed Due to PCOS
- French prosecutor in New Caledonia says authorities are investigating suspects behind deadly unrest
- Buckingham Palace staff under investigation for 'bar brawl'
- Dortmund seals sponsorship deal with arms manufacturer ahead of Champions League final
- Selling Sunset Gets New Spinoff in New York: Selling the City
- 6th house in 4 years collapses into Atlantic Ocean along North Carolina's Outer Banks
Recommendation
Vance jokes he’s checking out his future VP plane while overlapping with Harris at Wisconsin airport
The nation's top hurricane forecaster has 5 warnings as dangerous hurricane season starts
Authorities kill alligator after woman's remains were found lodged inside reptile's jaw
House Ethics Committee investigating indicted Rep. Henry Cuellar
Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
Human remains found in jaws of alligator in Houston after woman reported missing
Is 'color analysis' real? I put the viral TikTok phenomenon to the test − and was shocked.
Nicole Brown Simpson's Sisters Share Rare Update on Her and O.J. Simpson's Kids