New owner changes name of AK Steel
This is a breaking news report —subscribe online or in print to read the full article.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, the country’s largest producer of iron ore pellets, acquired AK Steel in early 2020, it said in a news release 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.The company is headquartered in Cleveland, and in total it employs about 25,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada. The deals made Cleveland-Cliffs the largest flat-rolled steel producer in North America, according to the company.
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