Current:Home > NewsCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -WealthFlow Academy
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-18 03:51:19
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! (712)
Related
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- Carly Pearce Weighs In on Beyoncé’s Country Music Association Awards Snub
- Kelsea Ballerini and Chase Stokes Are True Pretties During 2024 People's Choice Country Awards Date Night
- Kaitlyn Bristowe Addresses Run-In With Ex Jason Tartick on 2024 People’s Choice Country Awards Red Carpet
- A White House order claims to end 'censorship.' What does that mean?
- Kaitlyn Bristowe Addresses Run-In With Ex Jason Tartick on 2024 People’s Choice Country Awards Red Carpet
- Attorneys tweak $2.78B college settlement, remove the word ‘booster’ from NIL language
- 2024 PCCAs: Brandi Cyrus Reacts to Learning She and Miley Cyrus Are Related to Dolly Parton
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- SpaceX Crew-9, the mission that will return Starliner astronauts, prepares for launch
Ranking
- Sonya Massey's father decries possible release of former deputy charged with her death
- Kelsea Ballerini and Chase Stokes Are True Pretties During 2024 People's Choice Country Awards Date Night
- NFL Week 4 picks straight up and against spread: Will Packers stop Vikings from going 4-0?
- NASCAR Cup Series playoffs enter Round of 12: Where drivers stand before Kansas race
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Missy Mazzoli’s ‘The Listeners’ portraying life in a cult gets U.S. premiere at Opera Philadelphia
- The Daily Money: How much house can I afford?
- Top Haitian official denounces false claim, repeated by Trump, that immigrants are eating pets
Recommendation
Tree trimmer dead after getting caught in wood chipper at Florida town hall
Missy Mazzoli’s ‘The Listeners’ portraying life in a cult gets U.S. premiere at Opera Philadelphia
UCLA baseball team locked out of home field in lawsuit over lease involving veteran land
Judge orders US government to leave Wisconsin reservation roads open
This was the average Social Security benefit in 2004, and here's what it is now
Mountain West Conference survives as 7 remaining schools sign agreement to stay in league
Opinion: Derrick Rose made peace with 'what-ifs' during injury-riddled MVP career
How Shania Twain Transformed Into Denim Barbie for Must-See 2024 People's Choice Country Awards Look