Current:Home > MarketsCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -Visionary Growth Labs
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-26 06:42:34
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! (49958)
Related
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- Illinois Gov. Pritzker criticizes sheriff for hiring deputy who fatally shot Sonya Massey
- Judge dismisses most claims in federal lawsuit filed by Black Texas student punished over hairstyle
- Vote sets stage for new Amtrak Gulf Coast service. But can trains roll by Super Bowl?
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Why AP called Missouri’s 1st District primary for Wesley Bell over Rep. Cori Bush
- USWNT's win vs. Germany at Olympics shows 'heart and head' turnaround over the last year
- Path to Freedom: Florida restaurant owner recalls daring escape by boat from Vietnam
- Intellectuals vs. The Internet
- Federal indictment accuses 15 people of trafficking drugs from Mexico and distributing in Minnesota
Ranking
- Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
- A soda sip-off or an election? Tim Walz, JD Vance fight over the 'Mountain Dew Belt'
- San Francisco Ferry Fleet Gets New Emissions-Free Addition
- There will be no 'next Michael Phelps.' Calling Leon Marchand that is unfair
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- For Hindu American youth puzzled by their faith, the Hindu Grandma is here to help.
- Billy Bean, MLB executive and longtime LGBTQ advocate, dies at 60
- Lauryn Hill and the Fugees abruptly cancel anniversary tour just days before kickoff
Recommendation
Former Danish minister for Greenland discusses Trump's push to acquire island
Jennifer Lopez's Latest Career Move Combines the Bridgerton and Emily Henry Universes
Texas man to be executed for strangling mother of 3 says it's 'something I couldn't help'
'Halloween' star Charles Cyphers dies at 85
The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
Ancient 'hobbits' were even smaller than previously thought, scientists say
PHOTO COLLECTION: AP Top Photos of the Day Tuesday August 6, 2024
California’s two biggest school districts botched AI deals. Here are lessons from their mistakes.