Cleveland-Cliffs Completes Stelco Acquisition
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Cleveland-Cliffs, a leading US-based mining and steel company, has successfully completed the acquisition of Canadian steelmaker Stelco Holdings Inc. for approximately $2.5 billion. Stelco will now operate as a fully owned subsidiary of Cleveland-Cliffs.
This acquisition will strengthen Cleveland-Cliffs' position in the North American flat steel market, expanding its geographic presence and diversifying its customer base into the construction and industrial sectors. Lourenco Goncalves, CEO of Cleveland-Cliffs, emphasized the company's commitment to integrated steelmaking and job creation in North America.
Earlier in October, Cleveland-Cliffs received antitrust approval from the US Department of Justice for the acquisition, paving the way for its completion.
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Cleveland-Cliffs, a leading US-based mining and steel company, has successfully completed the acquisition of Canadian steelmaker Stelco Holdings Inc. for approximately $2.5 billion. Stelco will now operate as a fully owned subsidiary of Cleveland-Cliffs.
This acquisition will strengthen Cleveland-Cliffs' position in the North American flat steel market, expanding its geographic presence and diversifying its customer base into the construction and industrial sectors. Lourenco Goncalves, CEO of Cleveland-Cliffs, emphasized the company's commitment to integrated steelmaking and job creation in North America.
Earlier in October, Cleveland-Cliffs received antitrust approval from the US Department of Justice for the acquisition, paving the way for its completion.
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