Current:Home > ScamsCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -Streamline Finance
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-17 13:57:19
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! (183)
Related
- Breaking debut in Olympics raises question: Are breakers artists or athletes?
- How alt.NPR's experimentation shaped the early podcasting landscape starting in 2005
- Dream Kardashian and True Thompson Twin in Cute St. Patrick's Day Photos
- Elon Musk wants out of the Twitter deal. It could end up costing at least $1 billion
- Carolinas bracing for second landfall from Tropical Storm Debby: Live updates
- Why Bachelor Nation's Andi Dorfman Says Freezing Her Eggs Kept Her From Settling
- Twitter may have hired a Chinese spy and four other takeaways from the Senate hearing
- Privacy advocates fear Google will be used to prosecute abortion seekers
- Police remove gator from pool in North Carolina town: Watch video of 'arrest'
- King Charles III's coronation ceremony televised in the U.S.
Ranking
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Brokeback Mountain Coming to London Stage With Stars Lucas Hedges and Mike Faist
- Kate, Princess of Wales, honors Queen Elizabeth and Diana at King Charles' coronation
- TikTok says it's putting new limits on Chinese workers' access to U.S. user data
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Nebraska cops used Facebook messages to investigate an alleged illegal abortion
- Jurassic Park’s Sam Neill Shares He’s In Treatment After Stage 3 Blood Cancer Diagnosis
- Amanda Bynes Placed on 72-Hour Psychiatric Hold
Recommendation
The GOP and Kansas’ Democratic governor ousted targeted lawmakers in the state’s primary
Lofi Girl disappeared from YouTube and reignited debate over bogus copyright claims
Tamar Braxton Confirms Beef With Kandi Burruss: Their Surprising Feud Explained
'Smart gun' innovators seek to reduce firearm deaths
What polling shows about Minnesota Gov. Tim Walz, Harris’ new running mate
Lance Reddick Touched on Emotional Stakes of John Wick: Chapter 4 in Final E! News Interview
U.S. sending 1,500 active-duty troops to southern border amid migration spike
Legislation to subsidize U.S.-made semiconductor chips heads to Biden's desk