On March 13, 2020 Cleveland-Cliffs Inc. announced that it had successfully completed the acquisition of AK Steel Holding Corporation, integrating North America’s largest producer of iron ore pellets downstream into the production of value-added steel and specialty manufactured parts for the automotive industry. The combined company is led by Chairman, President and Chief Executive Officer Lourenco Goncalves.
Founded in 1847, Cleveland-Cliffs is among the largest vertically integrated producers of differentiated iron ore and steel in North America. With an emphasis on non-commoditized products, Cliffs is uniquely positioned to supply both customized iron ore pellets and sophisticated steel solutions to a quality-focused customer base, with an industry-leading market share in the automotive industry. Cliffs will also be the sole producer of hot briquetted iron (HBI) in the Great Lakes region when its first production plant starts up in mid-2020. A commitment to environmental sustainability is core to our business operations and extends to how we partner with stakeholders across our communities and the steel value chain. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 12,000 people across mining and steel manufacturing operations in the United States, Canada and Mexico. For more information, visit http://www.clevelandcliffs.com.
Investors looking for additional information regarding the Cleveland-Cliffs, please contact:
Director, Investor Relations