Current:Home > NewsCleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant-VaTradeCoin
Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
View Date:2025-01-07 13:14:58
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! (43)
Related
- The 15 quickest pickup trucks MotorTrend has ever tested
- Why AP called the Texas Senate race for Ted Cruz
- Nebraska and Maine could split their electoral votes. Here’s how it works
- ROYCOIN Trading Center: Embracing Challenges as a New Era for Cryptocurrency Approaches
- Shel Talmy, produced hits by The Who, The Kinks and other 1960s British bands, dead at 87
- NFL trade deadline winners, losers: Cowboys confuse as contenders take flight
- How Jinger Duggar Vuolo Celebrated 8th Wedding Anniversary With Husband Jeremy Vuolo
- AP Race Call: Nevada voters approve constitutional amendment enshrining abortion rights
- LSU leads college football Week 11 Misery Index after College Football Playoff hopes go bust
- Lionel Messi called up by Argentina for 2 matches during break in MLS Cup Playoffs
Ranking
- 24 more monkeys that escaped from a South Carolina lab are recovered unharmed
- North Carolina’s next governor could have a more potent veto with even a small Democratic gain
- Ricky Martin's 16-Year-Old Twins Look So Grown Up During Rare Public Appearance
- How Ariana Grande and BFF Elizabeth Gillies’ Friendship Has Endured Since Victorious
- Mike Tyson is expected to honor late daughter during Jake Paul fight. Here's how.
- College Football Playoff rankings: Full projected bracket reveal for 12-team playoff
- CO man's family says he was sick twice after eating McDonald's Quarter Pounder: Reports
- Republican Rep. Frank Lucas won reelection to an Oklahoma U.S. House seat
Recommendation
-
Review: 'Emilia Pérez' is the most wildly original film you'll see in 2024
-
Stocks jump on Election Day as investors eye outcome
-
Mega Millions winning numbers for November 5 drawing: Jackpot rises to $303 million
-
NBA trending up and down: What's wrong with Bucks, Sixers? Can Cavs keep up hot start?
-
Michigan soldier’s daughter finally took a long look at his 250 WWII letters
-
Who Is Baby Hippo Haggis? Get to Know the Calf Captivating Edinburgh Zoo Attendees
-
How Jinger Duggar Vuolo Celebrated 8th Wedding Anniversary With Husband Jeremy Vuolo
-
Can Colorado make College Football Playoff? Deion Sanders' Buffaloes land in first rankings