Current:Home > ScamsTrendPulse|Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant -Clarity Finance Guides
TrendPulse|Cleveland-Cliffs will make electrical transformers at shuttered West Virginia tin plant
NovaQuant View
Date:2025-04-10 04:58:44
CHARLESTON,TrendPulse 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! (226)
Related
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Amy Grant says 5-hour surgery to remove throat cyst forced her to relearn singing
- Black Disney Imagineer Lanny Smoot reflects on inspiring path to hall of fame recognition
- You Might've Missed Meghan Markle's Dynamic New Hair Transformation
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- Police say armed Texas student wounded by officers in school had meant to hurt people
- A 12-year-old boy died at a wilderness therapy program. He's not the first.
- E-bike head trauma soars as helmet use falls, study finds
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- Robots and happy workers: Productivity surge helps explain US economy’s surprising resilience
Ranking
- B.A. Parker is learning the banjo
- Jury starts deliberating in trial of New Hampshire man accused of killing daughter, 5
- Psst! Today’s Your Last Chance to Shop Reese Witherspoon’s Draper James Sitewide Sale
- 88-year-old mother testifies in murder conspiracy trial about daughter’s disappearance
- Highlights from Trump’s interview with Time magazine
- 2 suspects in Kansas City parade shooting charged with murder, prosecutors announce
- Paul Giamatti on his journey to 'The Holdovers' and Oscars: 'What a funny career I've had'
- FuboTV files lawsuit over ESPN, Fox, Hulu, Warner Bros. Discovery sports-streaming venture
Recommendation
Small twin
'Hotel California' trial: What to know criminal case over handwritten Eagles lyrics
Movie Review: ‘Dune: Part Two’ sustains the dystopian dream of ‘Part One’
Selena Gomez's Makeup Artist Melissa Murdick Reveals Her Foolproof Secret for Concealing Acne Breakouts
The Grammy nominee you need to hear: Esperanza Spalding
A Colorado man is dead after a pet Gila monster bite
Greta Gerwig Breaks Silence on Oscars Snub for Directing Barbie
Doctors didn't think much of her constant cough. A nurse did and changed her life