Current:Home > StocksCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -ProsperityEdge
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-13 15:58:49
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! (48)
Related
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- A woman is ordered to repay $2,000 after her employer used software to track her time
- Inside Clean Energy: Rooftop Solar Wins Big in Kansas Court Ruling
- Simon says we're stuck with the debt ceiling (Encore)
- Louvre will undergo expansion and restoration project, Macron says
- Coal-Fired Power Plants Hit a Milestone in Reduced Operation
- Migrant girl with illness dies in U.S. custody, marking fourth such death this year
- The Trump Organization has been ordered to pay $1.61 million for tax fraud
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- A chat with the president of the San Francisco Fed
Ranking
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Donald Trump Jr. subpoenaed for Michael Cohen legal fees trial
- Fives States Have Filed Climate Change Lawsuits, Seeking Damages From Big Oil and Gas
- Inflation is easing, even if it may not feel that way
- The Super Bowl could end in a 'three
- Inside Clean Energy: General Motors Wants to Go Big on EVs
- Big Rigged (Classic)
- Bindi Irwin Shares How She Honors Her Late Dad Steve Irwin Every Day
Recommendation
San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
Inflation is easing, even if it may not feel that way
Lady Gaga Shares Update on Why She’s Been “So Private” Lately
New Climate Research From a Year-Long Arctic Expedition Raises an Ozone Alarm in the High North
Sonya Massey's father decries possible release of former deputy charged with her death
See Behind-the-Scenes Photo of Kourtney Kardashian Working on Pregnancy Announcement for Blink-182 Show
Deer spread COVID to humans multiple times, new research suggests
BP’s Net-Zero Pledge: A Sign of a Growing Divide Between European and U.S. Oil Companies? Or Another Marketing Ploy?