Cleveland-Cliffs announces plans to buy Stelco
(WDIO)
On Monday, Cleveland-Cliffs announced they have plans to acquire Stelco, which is based in Canada.
Stelco has two facilities, which employ about 1800 United Steelworkers.
Upon closing of the transaction, Stelco is expected to continue operations as a wholly-owned subsidiary, preserving the name and legacy of the business.
Cliffs expects the transaction to close in the 4th quarter.
For more details: https://www.clevelandcliffs.com/news/news-releases/detail/643/cleveland-cliffs-announces-the-acquisition-of-stelco