Steel Mills
Cleveland-Cliffs Clears Antitrust Hurdle to Buy ArcelorMittal USA
Written by Sandy Williams
December 1, 2020
Cleveland-Cliffs received the all-clear signal from the Federal Trade Commission to move forward with the acquisition of ArcelorMittal USA. Cleveland-Cliffs expects the transaction to complete before the end of the year.
“We are pleased that the federal antitrust authorities have cleared our transaction ahead of schedule. With that, we have a clear path toward closing this transaction next month, as planned,” said Chairman, President and CEO Lourenco Goncalves. “We look forward to realizing the benefits of operating these assets under Cleveland-Cliffs and are excited with the significant optimization potential that will come from the integration with our current footprint.
“As we will soon become the largest flat-rolled steel producer in North America, we pledge to take great care of our expanded workforce and to support manufacturing in our country, through the safe and environmentally friendly production of steel. More than ever, we are ready for a great future for Cleveland-Cliffs and our people.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
USS/Nippon deal: Who will have the happiest holidays?
Will Santa bring gifts for the leadership, employees, and shareholders of U.S. Steel and Nippon Steel, and lumps of coal for USW leadership and politicians opposed to the deal?
‘Orderly liquidation’ of AHMSA assets begins
A trustee has formally taken over AHMSA and begun the liquidation process of the bankrupt Mexican steelmaker.
Nippon buying stake in Canadian iron ore project
Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.
USS anticipates Q4 loss on weak demand, BR2 start-up
Amid a challenging pricing and demand environment, and with the ongoing ramp-up of the Big River 2 mill, USS is anticipating a loss for the fourth quarter.
Nucor blames steel mills segment for depressed Q4 guidance
Nucor cited decreased volumes and prices in it steel mills segment as the key driver of its lower guidance for the fourth quarter.