Current:Home > Contact-usCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant-Angel Dreamer Wealth Society D1 Reviews & Insights
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View Date:2024-12-24 02:27:47
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! (46619)
Related
- Volkswagen, Mazda, Honda, BMW, Porsche among 304k vehicles recalled: Check car recalls here
- Trial begins in Florida for activists accused of helping Russia sow political division, chaos
- Inside Leah Remini and Angelo Pagán's Unusual Love Story
- Jada Pinkett Smith Goes Private on Instagram After Cryptic Message About Belonging to Another Person
- Martin Scorsese on faith in filmmaking, ‘The Saints’ and what his next movie might be
- The CEOs of Kroger and Albertsons are in court to defend plans for a huge supermarket merger
- Break in the weather helps contain a wildfire near South Dakota’s second-biggest city
- 11-year-old boy charged with killing former Louisiana city mayor, his daughter: Police
- 'I heard it and felt it': Chemical facility explosion leaves 11 hospitalized in Louisville
- Florida State drops out of AP Top 25 after 0-2 start. Texas up to No. 3 behind Georgia, Ohio State
Ranking
- Certifying this year’s presidential results begins quietly, in contrast to the 2020 election
- Afghan refugee pleads no contest to 2 murders in case that shocked Albuquerque’s Muslim community
- Chicago man charged in fatal shooting of 4 sleeping on train near Forest Park: police
- Travis Kelce Details Buying Racehorse Sharing Taylor Swift’s Name
- Dogecoin soars after Trump's Elon Musk announcement: What to know about the cryptocurrency
- 'I thought we were all going to die': Video catches wild scene as Mustang slams into home
- Actor Ed Burns wrote a really good novel: What's based on real life and what's fiction
- 22 Ohio counties declared natural disaster areas due to drought
Recommendation
-
Biden EPA to charge first-ever ‘methane fee’ for drilling waste by oil and gas companies
-
Step Inside Jennifer Garner’s Los Angeles Home That Doubles as a Cozy Oasis
-
Texas deputy was fatally shot at Houston intersection while driving to work, police say
-
2 Phoenix officers shot with 1 listed in critical condition, police say
-
Pitchfork Music Festival to find new home after ending 19-year run in Chicago
-
'I thought we were all going to die': Video catches wild scene as Mustang slams into home
-
FACT FOCUS: Posts falsely claim video shows Harris promising to censor X and owner Elon Musk
-
How Joey King Is Celebrating First Wedding Anniversary to Steven Piet