Current:Home > reviewsCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -WealthGrow Network
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View
Date:2025-04-16 10:02:17
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! (3)
Related
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- California judge charged in wife’s death is arrested on suspicion of drinking alcohol while on bail
- Brett Favre reveals Parkinson's diagnosis during congressional hearing
- US company accuses Mexico of expropriating its property on the Caribbean coast
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Survivors of sex abuse at Illinois juvenile detention facilities hope for justice
- Meet Libra, the Zodiac's charming peacemaker: The sign's personality traits, dates
- JoJo Siwa's glittery jockstrap and chest plate outfit prompts mixed reactions
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
- Johnny Cash becomes first musician honored with statue inside US Capitol
Ranking
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- GHCOIN TRADING CENTER: A Leader in Digital Asset Innovation
- Fantasy football waiver wire: 10 players to add for NFL Week 4
- Pac-12 might be resurrected, but former power conference is no longer as relevant
- All That You Wanted to Know About She’s All That
- A's owner John Fisher's letter sparks inspired news anchor response
- Exclusive: Seen any paranormal activity on your Ring device? You could win $100,000
- Home address of Detroit Lions head coach posted online following team’s playoff loss
Recommendation
What do we know about the mysterious drones reported flying over New Jersey?
When do new 'The Golden Bachelorette' episodes come out? Day, time, cast, where to watch
Bunny buyer's remorse leads Petco to stop selling rabbits, focus on adoption only
Bella Hadid Returns to the Runway at Paris Fashion Week After 2-Year Break From Modeling
North Carolina justices rule for restaurants in COVID
Department of Justice sues Visa, saying the card issuer monopolizes debit card markets
Union workers at Hawaii’s largest hotel go on strike
Passenger killed when horse smashes through windshield during California highway crashes