Leaders hopeful AK Steel's name change won't impact company's commitment to Middletown
Read full article
March 6, 2021, 11:41 AM·3 min read
Mar. 6—Middletown city leaders and the president of the union at AK Steel don't believe they will see significant differences after the steelmaker changes its name to reflect new ownership.
Neil Douglas, president of IAM Local 1943, said Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs sent out a company wide email last week announcing the name change to Cleveland-Cliffs. In 2020, the Ohio-based company bought AK Steel for $1.1 billion.
Also last year, Cleveland-Cliffs Inc. bought the U.S. assets of ArcelorMittal for $1.4 billion. The deal made Cleveland-Cliffs the largest flat-rolled steel producer in North America, officials said.