US’s steel giant Cleveland Cliffs announced that it was named to the Fortune 500 list for the first time since its transformation from a mining company to become the largest flat-rolled steel company and the largest supplier of steel to the automotive industry in North America. Cleveland-Cliffs’ 2021 revenue of USD 20.4 billion earned Cleveland Cliffs the ranking of 171 on the list for 2022, surpassing its previous highest ranking ever of 366 in 2012. Cleveland-Cliffs’ Chairman, President & CEO Mr Lourenco Goncalves said “Our inclusion on this year’s Fortune list of companies, particularly our position well within the 200 largest ones, is another demonstration of our remarkable transformation. Despite all the challenges imposed by the COVID-19 pandemic and the long lasting consequences to supply chains still affecting our clients as of today, we grew tenfold in just two years, from USD 2 billion in revenues in 2019 to over USD 20 billion in revenues in 2021.”Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cleveland-Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. It is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to comprehensive offering of flat-rolled steel products. Headquartered in Cleveland in Ohio, Cleveland-Cliffs employs approximately 26,000 people across its operations in the United States and Canada.This year’s Fortune 500 marks the 68th running of the list. According to Fortune, together the 500 corporations on this year’s list generated a record USD 16.1 trillion in revenue and USD 1.8 trillion in profits. Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the US and operate in the US and file financial statements with a government agency.Some other steel makers also feature in this list172 - United States Steel – USD 20.3 billion196 - Steel Dynamics – USD 18.4 billion261 - Reliance Steel & Aluminum – USD 14.1 billion890 - Schnitzer Steel Industries – USD 2.8 billion955 - Olympic Steel – USD 2.3 billion
US’s steel giant Cleveland Cliffs announced that it was named to the Fortune 500 list for the first time since its transformation from a mining company to become the largest flat-rolled steel company and the largest supplier of steel to the automotive industry in North America. Cleveland-Cliffs’ 2021 revenue of USD 20.4 billion earned Cleveland Cliffs the ranking of 171 on the list for 2022, surpassing its previous highest ranking ever of 366 in 2012. Cleveland-Cliffs’ Chairman, President & CEO Mr Lourenco Goncalves said “Our inclusion on this year’s Fortune list of companies, particularly our position well within the 200 largest ones, is another demonstration of our remarkable transformation. Despite all the challenges imposed by the COVID-19 pandemic and the long lasting consequences to supply chains still affecting our clients as of today, we grew tenfold in just two years, from USD 2 billion in revenues in 2019 to over USD 20 billion in revenues in 2021.”Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cleveland-Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. It is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to comprehensive offering of flat-rolled steel products. Headquartered in Cleveland in Ohio, Cleveland-Cliffs employs approximately 26,000 people across its operations in the United States and Canada.This year’s Fortune 500 marks the 68th running of the list. According to Fortune, together the 500 corporations on this year’s list generated a record USD 16.1 trillion in revenue and USD 1.8 trillion in profits. Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the US and operate in the US and file financial statements with a government agency.Some other steel makers also feature in this list172 - United States Steel – USD 20.3 billion196 - Steel Dynamics – USD 18.4 billion261 - Reliance Steel & Aluminum – USD 14.1 billion890 - Schnitzer Steel Industries – USD 2.8 billion955 - Olympic Steel – USD 2.3 billion
