Current:Home > FinanceCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -ProWealth Academy
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-18 08:46:16
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! (5)
Related
- Trump invites nearly all federal workers to quit now, get paid through September
- Missouri grandfather charged in 7-year-old’s accidental shooting death
- Meat processor ordered to pay fines after teen lost hand in grinder
- Here's when you should — and shouldn't — use autopay for your bills
- A South Texas lawmaker’s 15
- DJ Casper, Chicago disc jockey and creator of ‘Cha Cha Slide,’ dies after battle with cancer
- Summon the Magic of the Grishaverse with this Ultimate Shadow and Bone Fan Gift Guide
- Oregon Capitol construction quietly edges $90 million over budget
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- July was the globe's hottest month on record, and the 11th warmest July on record in US
Ranking
- Travis Hunter, the 2
- Jay-Z's Made in America 2023 festival canceled due to 'severe circumstances'
- Storm-damaged eastern US communities clear downed trees and race to restore power
- Barbie global ticket sales reach $1 billion in historic first for women directors
- Military service academies see drop in reported sexual assaults after alarming surge
- Tesla CFO Zach Kirkhorn stepping down after 13 years with Elon Musk's company
- Pioneering study links testicular cancer among military personnel to ‘forever chemicals’
- Millions scramble to afford energy bills amid heat waves, but federal program to help falls short
Recommendation
Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
Sen. Dianne Feinstein, 90, falls at home and goes to hospital, but scans are clear, her office says
Teen sisters have been missing from Michigan since June. The FBI is joining the search.
Man makes initial court appearance following Indiana block party shooting that killed 1, wounded 17
Average rate on 30
Man accused of holding wife captive in France being released, charges unfounded, prosecutor says
DeSantis replaces campaign manager in latest staff shake-up
After a glacial dam outburst destroyed homes in Alaska, a look at the risks of melting ice masses