Current:Home > NewsCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -WealthX
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-18 07:57:20
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! (856)
Related
- Stamford Road collision sends motorcyclist flying; driver arrested
- Microsoft’s AI chatbot will ‘recall’ everything you do on a PC
- WNBA and LSU women's basketball legend Seimone Augustus joins Kim Mulkey's coaching staff
- Eminem's Daughter Hailie Jade Marries Evan McClintock With Her Dad By Her Side
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Cargo ship Dali refloated to a marina 8 weeks after Baltimore bridge collapse
- Report: MLB investigating David Fletcher, former Shohei Ohtani teammate, for placing illegal bets
- Target to cut prices on 5,000 products in bid to lure cash-strapped customers
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- Courteney Cox Shares Matthew Perry Visits Her 6 Months After His Death
Ranking
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- Oilers vs. Canucks: How to watch, live stream and more to know about Game 7
- Travis Kelce Reveals How His Loved Ones Balance Him Out
- Judge cites error, will reopen sentencing hearing for man who attacked Paul Pelosi
- Travis Hunter, the 2
- Dog food sold by Walmart is recalled because it may contain metal pieces
- WNBA and LSU women's basketball legend Seimone Augustus joins Kim Mulkey's coaching staff
- Bruce Nordstrom, former chairman of Nordstrom's department store chain, dies at 90
Recommendation
US appeals court rejects Nasdaq’s diversity rules for company boards
Supreme Court turns away challenge to Maryland assault weapons ban
Bella Hadid Frees the Nipple in Plunging Naked Dress at 2024 Cannes Film Festival
Top U.S. drug agency a notable holdout in Biden’s push to loosen federal marijuana restrictions
Biden administration makes final diplomatic push for stability across a turbulent Mideast
What 'Bridgerton' gets wrong about hot TV sex scenes
Arizona man gets life in prison in murder of wife who vigorously struggled after being buried alive, prosecutors say
At least 68 dead in Afghanistan after flash floods caused by unusually heavy seasonal rains