BIG TIME Cleveland-based steel plant owner Cleveland-Cliffs has experienced tremendous growth
Cleveland-Cliffs purchased AK Steel for $1.1 billion in 2020. After that the Cleveland-based company bought the U.S. assets of ArcelorMittal for $1.4 billion, officials said.
■ CLEVELAND-CLIFFS, which owns and operates the Middletown steel plant, continued its “remarkable transformation” by being named to the Fortune 500 list, said Lourenco Goncalves, chairman, president, and CEO.
Today, Cleveland-Cliffs announced it was named to the Fortune 500 list for the first time since its transformation from a mining company to become 16
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the largest flat-rolled steel company and the largest supplier of steel to the automotive industry in North America.
The company’s ranking of 171 on the list for 2022 surpassed its highest ranking ever of 366 in 2012. The Fortune 500 list ranks companies that are incorporated and operate in the U.S. by total revenues for their Story Contributed by the Journal-News
