Current:Home > InvestCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -AssetTrainer
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-27 23:46:15
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! (254)
Related
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Harris is pushing joy. Trump paints a darker picture. Will mismatched moods matter?
- Elle King Explains Why Rob Schneider Was a Toxic Dad
- Jordan Chiles bumped off podium as gymnastics federation reinstates initial score
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Maine can now order employers to pay workers damages for missed wages
- In Pennsylvania’s Competitive Senate Race, Fracking Takes Center Stage
- Emotions run wild as players, celebrities bask in US women's basketball gold medal
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- From Biden to Gabbard, here’s what Harris’ past debates show before a faceoff with Trump
Ranking
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Millie Bobby Brown Includes Nod to Jake Bongiovi Marriage on Stranger Things Set
- Jordan Chiles Stripped of Bronze Medal in 2024 Olympics Floor Exercise
- State House Speaker Scott Saiki loses Democratic primary to Kim Coco Iwamoto
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Road rage fight in Los Angeles area leaves 1 man dead; witness says he was 'cold-cocked'
- In 60-year-old Tim Walz, Kamala Harris found a partner to advocate for reproductive rights
- The Daily Money: Which airports have most delays?
Recommendation
Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
Olympics highlights: Closing ceremony, Tom Cruise, final medal count and more
Legionnaires’ disease source may be contaminated water droplets near a resort, NH officials say
Sabrina Carpenter Narrowly Avoids Being Hit by Firework During San Francisco Concert
NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
A'ja Wilson had NSFW answer to describe Kahleah Copper's performance in gold medal game
Hunter Biden’s lawyers say claims about foreign business dealing have no place in upcoming tax trial
Jonathan Taylor among Indianapolis Colts players to wear 'Guardian Caps' in preseason game