Current:Home > ContactCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -Dynamic Money Growth
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-17 12:31:41
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! (3)
Related
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- U.S. Air Force member dies after setting himself on fire outside Israeli Embassy in Washington in apparent protest against war in Gaza
- How The Underground Railroad Got Its Name
- Returning characters revive 'The Walking Dead' in 'The Ones Who Live'
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Michigan man gets minimum 30 years in prison in starvation death of his disabled brother
- Reddit's public Wall Street bet
- Supreme Court takes up regulation of social media platforms in cases from Florida and Texas
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Most-Shopped Celeb-Recommended Items This Month: Olivia Culpo, Kyle Richards, Zayn Malik, and More
Ranking
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- When is forgetting normal — and when is it worrisome? A neuroscientist weighs in
- Florida Man Games: See photos of the the wacky competitions inspired by the headlines
- New Research from Antarctica Affirms The Threat of the ‘Doomsday Glacier,’ But Funding to Keep Studying it Is Running Out
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- U.S. Army restores honor to Black soldiers hanged in Jim Crow-era South
- Alec Baldwin to stand trial this summer on a charge stemming from deadly ‘Rust’ movie set shooting
- Yoshinobu Yamamoto to make Dodgers start. How to watch star pitcher's debut
Recommendation
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
Ricki Lake Reveals Body Transformation After 30-Pound Weight Loss
Bradley Cooper Proves He Is Gigi Hadid’s Biggest Supporter During NYC Shopping Trip
Police ID suspects in killing of man on Bronx subway car as transit officials discuss rising crime
Skins Game to make return to Thanksgiving week with a modern look
Priest accused of selling Viagra and aphrodisiacs suspended by Roman Catholic Church in Spain
A shooting claimed multiple lives in a tiny Alaska whaling village. Here’s what to know.
Lack of snow cancels longest sled dog race in eastern United States