Cleveland-Cliffs Inc

June 24: AK Steel Wins GM Supplier of the Year Award

AK Steel, a wholly-owned subsidiary of Cleveland-Cliffs (NYSE: CLF), was named GM Supplier of the Year by General Motors for Raw Materials during a virtual ceremony honoring the recipients of the company’s 28th annual Supplier of the Year awards on Wednesday, June 24, 2020.
 
GM’s Supplier of the Year award is reserved for suppliers who distinguish themselves by meeting performance metrics for quality, execution, innovation, and total enterprise cost. AK Steel produces a unique product mix of carbon, stainless and electrical steel products for automotive solutions and this is the third consecutive year that the business has received the award.

You can read the complete press release about the award in the "News" section of our website.

Cleveland-Cliffs Applauds Section 232 Investigation on Transformer Laminations and Cores, Electrical Transformers and Transformer Regulators May 5, 2020

Cleveland-Cliffs praised the U.S. Department of Commerce’s self-initiation of an urgent Section 232 investigation covering laminations for stacked transformer cores, stacked and wound transformer cores, electrical transformers, and transformer regulators.

Cliffs CEO Lourenco Goncalves said, “We are confident that this self-initiated investigation will reinforce the critical nature of ensuring a reliable domestic supply of GOES to support electric power distribution, and will address the circumvention of national security tariffs involving transformer laminations and cores of GOES. Cleveland-Cliffs greatly appreciates the bipartisan leadership of Senator Rob Portman, Senator Bob Casey, Senator Sherrod Brown, Congressman Mike Kelly, Congressman Troy Balderson, Congresswoman Marcy Kaptur and other Congressional leaders who helped facilitate this path forward, as well as the great support from our Union partners with the United Auto Workers. The integrity of America’s electric grid and over 1,400 family-sustaining jobs at AK Steel’s Butler Works in Pennsylvania and Zanesville Works in Ohio depend on speedy resolution of this investigation.”

Read the complete statement online.

Lawmakers Urge President Trump to Preserve American Electrical Steel Industry April 15, 2020

U.S. Representatives Mike Kelly (R-Pa.), Marcy Kaptur (D-Ohio) and Troy Balderson (R-Ohio) were joined by a bipartisan group of lawmakers to urge President Trump to address the unfair trade practices that are threatening AK Steel’s electrical steel business. AK Steel, a wholly owned subsidiary of Cleveland-Cliffs, is the last remaining producer of electrical steel in North America.

In the letter, the Representatives expressed concern that some bad actors are intentionally avoiding national security tariffs imposed on imports of grain-oriented electrical steel under Section 232. Cleveland-Cliffs CEO Lourenco Goncalves made clear to Secretary of Commerce, Wilbur Ross, that unless this circumvention is immediately addressed, the company will have no choice but to close AK Steel plants in Butler, PA and Zanesville, OH, which threatens more than 1,500 jobs and the security of America’s power grid.

The press release and letter can be read on U.S. Representative Kelly's website.

Cleveland-Cliffs CEO Testifies at Congressional Steel Caucus Hearing March 5, 2020

Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves was one of several executives who delivered testimony to the Congressional Steel Caucus today, impressing the need for a U.S. infrastructure plan and continued enforcement of trade policies to protect the American steel industry.

His testimony, as well as the testimonies of other participants, can be found on the website of the American Iron and Steel Institute.

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