It’s officially the end of an era. Cleveland-Cliffs, the 173-year-old iron ore mine operator that is becoming America’s largest flat-rolled steel producer in North America, has closed on a deal to acquire ArcelorMittal USA for $1.4 billion.
It’s been called a blockbuster deal that “opens a new chapter in the history of the steel business in the United States.”
The Cleveland-based company will take over most of ArcelorMittal USA’s assets, including its steel mills along the South Shore of Lake Michigan in Northwest Indiana. Continue Reading →