Cleveland-Cliffs Inc. completes acquisition of ArcelorMittal USA

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The acquisition forms the largest flat-rolled steel producer in North America

ArcelorMittal is threatening to pull out of Italy deal.

CLEVELAND, Ohio (WKBN) – Cleveland-Cliffs Inc. announced Wednesday that it has successfully completed the acquisition of substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries.

That forms the largest flat-rolled steel producer in North America.

“The assets we have acquired will be combined with our existing footprint, including AK Steel, Precision Partners, AK Tube, several mining and pelletizing facilities, our Research & Development Center, and the most modern Direct Reduction plant in the world, which we have just started to operate in Toledo, Ohio. Our new footprint expands our technological capability and enhances our operational flexibility, elevating Cleveland-Cliffs to a prominent role as a major player in supporting American manufacturing, American future investments in infrastructure, and the prosperity of the American people through good-paying middle-class jobs,” said Lourenco Goncalves, chairman, president and CEO.

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs is also the largest producer of iron ore pellets in North America.

In 2020, Cliffs acquired two major steelmakers, AK Steel and ArcelorMittal USA, vertically integrating its legacy iron ore business with quality-focused steel production and emphasis on the automotive end market.

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