Current:Home > StocksCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -CapitalWay
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-26 10:05:03
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! (4599)
Related
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- Angelina Jolie and 3 of Her Kids Make Rare Red Carpet Appearance at New York Film Festival
- Helene flooding is 'catastrophic natural disaster' in Western NC
- Guardsman wanted to work for RentAHitman.com. He's now awaiting a prison sentence
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- 7UP clears up rumors about mocktail-inspired flavor, confirms Shirley Temple soda is real
- NFL games today: Titans-Dolphins, Seahawks-Lions on Monday Night Football doubleheader
- A brush fire prompts evacuations in the Gila River Indian Community southwest of Phoenix
- North Carolina justices rule for restaurants in COVID
- John Ashton, Taggart in 'Beverly Hills Cop' films, dies at 76
Ranking
- The company planning a successor to Concorde makes its first supersonic test
- Raheem Morris downplays Kyle Pitts' zero-catch game: 'Stats are for losers'
- Steelers' Minkah Fitzpatrick upset with controversial unnecessary roughness penalty in loss
- Every Bombshell From This Season of Sister Wives: Family Feuds, Money Disagreements and More
- What to watch: O Jolie night
- Could a doping probe strip Salt Lake City of the 2034 Olympics? The IOC president says it’s unlikely
- How can I help those affected by Hurricane Helene? Here are ways you can donate
- Clemson University to open arena, outdoor wellness center for area residents after Hurricane Helene
Recommendation
Former Syrian official arrested in California who oversaw prison charged with torture
Texas edges Alabama as new No. 1 in US LBM Coaches Poll after Crimson Tide's defeat of Georgia
At Climate Week NYC, Advocates for Plant-Based Diets Make Their Case for the Climate
Cities are using sheep to graze in urban landscapes and people love it
'Most Whopper
Trump is pointing to new numbers on migrants with criminal pasts. Here’s what they show
Trump lists his grievances in a Wisconsin speech intended to link Harris to illegal immigration
How to watch SpaceX, NASA launch that will bring Starliner astronauts home in 2025