Current:Home > reviewsCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -VisionFunds
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
Johnathan Walker View
Date:2025-04-06 11:43:25
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! (7179)
Related
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Louvre will undergo expansion and restoration project, Macron says
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Senate begins final push to expand Social Security benefits for millions of people
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
Ranking
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- Trump's 'stop
- Global Warming Set the Stage for Los Angeles Fires
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Federal hiring is about to get the Trump treatment
- Questlove charts 50 years of SNL musical hits (and misses)
- Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
Recommendation
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
Questlove charts 50 years of SNL musical hits (and misses)
Average rate on 30
McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
Could your smelly farts help science?
The Louvre will be renovated and the 'Mona Lisa' will have her own room
South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment