Loading prices...

Register/Sign in
ScrapMonster
Are ads getting in your way? Register for Ad-free pages and live data.
Get an instant offer on your damaged car
Steel News March 16, 2020 11:30:36 AM

Cleveland-Cliffs Completes Acquisition of AK Steel

Paul Ploumis
ScrapMonster Author
Nearly 68% of the ownership of the combined entity is owned by Cliffs shareholders, whereas the remaining 32% by AK Steel shareholders.
Cleveland-Cliffs Completes Acquisition of AK Steel

SEATTLE (Scrap Monster): Cleveland-headquartered Cleveland-Cliffs, Inc. announced that it has completed acquisition of West Chester, Ohio-based AK Steel Holding Corporation. The two companies had reached a definitive agreement on the buyout deal in December last year.

Commenting on the milestone achievement, Lourenco Goncalves, Chairman, President and Chief Executive Officer, Cleveland-Cliffs, who leads the combined entity, noted that the acquisition brings in a new era for Cleveland-Cliffs as a producer of differentiated, high-quality iron ore, metallics and steel in North America. The combined entity now owns two integrated blast furnace mills, two electric arc furnace plants and an HBI plant, in addition to various other facilities.

ALSO READ: AK Steel Ashland Works Plant Facility Rolls Out Final Coil

Goncalves welcomed the AK Steel employees and the unions representing the workforce throughout the country to the Cleveland-Cliffs family.

Nearly 68% of the ownership of the combined entity is owned by Cliffs shareholders, whereas the remaining 32% by AK Steel shareholders.

The transaction has combined Cliffs’ iron ore pellet capabilities and AK Steel’s innovative and technologically-developed steel production capabilities, that primarily focuses on manufactured parts for the region’s automotive industry.

Are ads getting in your way? Register for Ad-free pages and live data.

How to Recycle

Proper Disposal of Alkaline Batteries

Proper Disposal of Alkaline Batteries

Improper disposal of alkaline batteries can result in various negative consequences. Explore our blog post to discover safe disposal methods.
Christmas Tree Recycling - Responsible Ways

Christmas Tree Recycling - Responsible Ways

Proper preparation and using a reliable Christmas tree recycling directory ensures responsible disposal and maximizes the benefits.
Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop throwing away LED light bulbs and dispose of them responsibly. Proper disposal ensures environmental safety and sustainability.
powered by RecyclingMonster
Are ads getting in your way? Register for Ad-free pages and live data.
×

Quick Search

Advanced Search