Cleveland-Cliffs Inc. announced that it has entered into a definitive agreement with ArcelorMittal S.A. , pursuant to which Cleveland-Cliffs will acquire substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries for approximately $1.4 billion. Upon closure of the transaction, Cleveland-Cliffs will be the largest flat-rolled [...]
Cleveland-Cliffs Inc. today reported second-quarter results for the period ended June 30, 2020. The Company reported total revenues of $1.1 billion, compared to the prior year's second-quarter consolidated revenues of $743 million. The Company recorded a net loss of $108 million during the second quarter of 2020, and a loss of $0.31 per diluted [...]
Cleveland-Cliffs Inc. today announced that its wholly-owned subsidiary, AK Steel, is increasing current spot market base prices for all carbon flat-rolled steel hot rolled, cold rolled and coated products by a minimum of $40 per ton, effective immediately with new orders in North America. About Cleveland-Cliffs Founded in 1847, Cleveland-Cliffs is [...]
Cleveland-Cliffs Inc. announced today it will be reporting second-quarter 2020 financial results before the U.S.-market open on Thursday, July 30, 2020. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results. When: Thursday, July 30, 2020 [...]
AK Steel, a wholly-owned subsidiary of Cleveland-Cliffs , was named GM Supplier of the Year by General Motors for Raw Materials during a virtual ceremony honoring the recipients of the company’s 28th annual Supplier of the Year awards on Wednesday, June 24, 2020. GM’s Supplier of the Year award is reserved for suppliers who distinguish themselves [...]
Cleveland-Cliffs Inc. announced today that it has priced an additional $120 million aggregate principal amount of Senior Secured Notes due 2026 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Additional Notes will bear interest at an annual rate of 6.75% and will be issued at a price of 99.250 [...]
Cleveland-Cliffs Inc. today announced that it intends to offer to sell, subject to market and other conditions, an additional $120 million aggregate principal amount of Senior Secured Notes due 2026 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Additional Notes will be an issuance of Cliffs [...]
Cleveland-Cliffs Inc. today announced that it will be resuming construction of its Hot-Briquetted Iron plant in Toledo, Ohio, and accelerating the restart of its Tilden mining operations in Michigan. The construction of the Toledo HBI plant was temporarily shut down on March 20, 2020, and the Company has now begun the process of remobilizing the [...]
Cleveland-Cliffs Inc. today announced that its wholly-owned subsidiary, AK Steel, is increasing current spot market base prices for all carbon flat-rolled steel products by a minimum of $40 per ton, effective immediately with new orders in North America. About Cleveland-Cliffs Founded in 1847, Cleveland-Cliffs is among the largest vertically [...]
Cleveland-Cliffs Inc. today reported first-quarter results for the period ended March 31, 2020. On March 13, 2020, Cleveland-Cliffs completed the acquisition of AK Steel Holding Corporation . The results set forth in this release only consider the operating results of AK Steel for the period from March 13, 2020 through March 31, 2020. The [...]
Cleveland-Cliffs Inc. announced today it will be reporting first-quarter 2020 financial results before the U.S.-market open on Monday, May 11, 2020. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results. When: Monday, May 11, 2020, at [...]
Cleveland-Cliffs Inc. today announced that it has offered and priced an additional $555.2 million aggregate principal amount of Senior Secured Notes due 2025 at a price of 99% of their principal amount in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Additional Notes will be an issuance of Cliffs [...]
