Current:Home > ScamsCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -WealthMindset Learning
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
Algosensey View
Date:2025-04-08 11:12:19
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! (77)
Related
- Jury selection set for Monday for ex-politician accused of killing Las Vegas investigative reporter
- Rare Roman mausoleum unearthed at London development site
- This Glow-Enhancing Lotion With 15,300+ 5-Star Reviews Is a Primer, Highlighter, Moisturizer, and More
- Hailey Bieber Sends Love to Justin Bieber’s Beautiful Mom in Birthday Tribute
- Former Milwaukee hotel workers charged with murder after video shows them holding down Black man
- Late Model Jeremy Ruehlemann’s Girlfriend Mary-Brian Clarke Unexpectedly Dead at 24
- Blinken meets China's Xi Jinping in Beijing, says both countries agree on need to stabilize relations
- Jecca Blac’s Vegan, Gender-free Makeup Line Is Real, and It’s Spectacular
- JoJo Siwa reflects on Candace Cameron Bure feud: 'If I saw her, I would not say hi'
- Why Jon Gosselin Has No Fear Reconciling With His 6 Estranged Kids
Ranking
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Iran helping Russia build plant to manufacture drones for likely use in Ukraine, White House says
- Contaminated cider kills at least 29 people, sickens dozens in Russia
- At least 78 dead and dozens feared missing after fishing boat sinks off Greece
- Jury finds man guilty of sending 17-year-old son to rob and kill rapper PnB Rock
- Travis Scott Uses 2 Words to Compliment Kylie Jenner Months After Breakup Rumors
- Kelsea Ballerini and Chase Stokes Make Their Red Carpet Debut at 2023 CMT Music Awards
- Belarus now has Russian nuclear weapons three times more powerful than those used on Japan, leader says
Recommendation
Jury finds man guilty of sending 17-year-old son to rob and kill rapper PnB Rock
4 children who survived 40 days in Colombia jungle reunited with families
Pope Francis meets young cancer patients at hospital before his expected discharge after abdominal surgery
Blinken meets with Chinese foreign minister as U.S. hopes to open communication channels to avoid military clash
Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
12 Books to Add To Your Reading List in April
Cyclone Biparjoy makes landfall in India and Pakistan packing powerful rain and wind after mass-evacuations
Kate Spade Flash Sale: Last Day To Get a $550 Tote for $151, a $139 Wallet for $39, and More Deals