Cleveland-Cliffs to Rename AK Steel
Butler Eagle reported that AK Steel’s name will be changed to reflect its new Ohio-based owners, Cleveland-Cliffs, breaking earlier assurances that the name wouldn’t be changed. When Cleveland Cliffs acquired AK Steel in early 2020, it said that AK Steel would retain its branding. But in the company’s year-end report, it noted that AK Steel and another company called ArcelorMittal USA are being vertically integrated into Cleveland-Cliffs.
West Chester Township in Butler County in Ohio headquartered AK Steel derived its name from the initials of predecessor companies & Kawasaki Steel Corporation. AK Steel operated eight steel plants and two tube manufacturing plants in Ashland in Kentucky, Butler in Pennsylvania, Coshocton in Ohio, Dearborn in Michigan; Mansfield in Ohio; Middletown in Ohio, Rockport in Indiana and Zanesville in Ohio. AK Steel produced flat-rolled carbon, stainless and electrical steel products, primarily for the automotive, infrastructure and manufacturing, including electrical power, and distributors and converters markets.
Cleveland-Cliffs Inc, formerly Cliffs Natural Resources, is a Cleveland in Ohio based company that specializes in the mining, beneficiation, and pelletizing of iron ore. Cleveland-Cliffs operates four iron ore mines in Minnesota and two mines in Michigan, one of which, the Empire Mine, has been indefinitely idled. The company operates a hot-briquetted iron facility in Toledo in Ohio. On March 13, 2020, the company acquired AK Steel Holding for USD 1.1 billion. In December 2020, the company acquired the United States operations of ArcelorMittal for approximately USD 1.4 billion, making it the largest producer of flat-rolled steel and iron ore pellets in North America. Now the company operates many fully-integrated steel mills and finishing facilities in Kentucky, Indiana, Illinois, Ohio, Michigan, Pennsylvania, West Virginia, and North Carolina. It has annual production capacity of approximately 23 million net tons of raw steel.