Cleveland-Cliffs Inc. announced today it took top honors in three categories at the Annual S&P Global Platts Global Metals Award ceremony in London, England on October 14. Lourenco Goncalves was awarded CEO/Chairperson of the Year. Cleveland-Cliffs was named Metals Company of the Year and the company received the Deal of the Year award. Lourenco Goncalves, Chairman, President and CEO, said, "It is a tremendous honor to be [...]
Winners from Russia, Brazil, India, South Korea, Sweden, and US - CEO/Chairperson of the Year: Lourenco Goncalves, Cleveland-Cliffs - - Lifetime Achievement Award: David DeYoung, Alcoa - Cleveland-Cliffs Inc., the largest flat-rolled steel producer in North America and supplier to the North American automotive industry, was a triple winner at the 2021 S&P Global Platts Global Metals Awards, lauded with Metals Company of [...]
Cleveland-Cliffs Inc. announced today that its employees represented by the United Auto Workers Local 3044 have ratified a three-year labor contract for its Rockport Works operation. The new contract is effective from October 1, 2021 through September 30, 2024. The new contract will cover approximately 350 UAW-represented workers at Rockport. Lourenco Goncalves, Chairman, President and CEO, stated, "Our union workforce is [...]
Cleveland-Cliffs Inc. will announce its third-quarter 2021 earnings results before the U.S. market open on Friday, October 22, 2021. 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 on October 22, 2021, at 10:00am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and [...]
Cleveland-Cliffs Inc. today announced the results of its COVID-19 Vaccination Incentive Program. In July, the Company launched a vaccine incentive program that it developed in partnership with its labor unions, including the United Steelworkers, the United Autoworkers, and the International Association of Machinists. The intent of the Program was to protect the workforce by providing employees with a positive incentive to [...]
Cleveland-Cliffs Inc. announced today that its employees represented by the United Auto Workers Local 600 have ratified a three-year labor contract for its Dearborn Works operations. The new contract is retroactively effective from August 1, 2021 through July 31, 2024, and will cover approximately 1,000 UAW-represented workers at Dearborn. Lourenco Goncalves, Chairman, President and CEO, stated, "We are extremely pleased [...]
Cleveland-Cliffs Inc. today reported second-quarter results for the period ended June 30, 2021. Second-quarter 2021 consolidated revenues were $5.0 billion, compared to the prior-year second-quarter revenues of $1.1 billion. For the second quarter of 2021, the Company recorded net income of $795 million, or $1.33 per diluted share. This included the following charges totaling $77 million, or $0.13 per diluted share [...]
Cleveland-Cliffs Inc. announced today the release of its full Sustainability Report 2020. In response to feedback from many of its stakeholders, Cleveland-Cliffs developed its Sustainability Report 2020 with reference to the widely-used Global Reporting Initiative's comprehensive sustainability reporting framework and Sustainability Accounting Standards Board standards. The GRI framework encourages greater transparency [...]
Cleveland-Cliffs Inc. was named GM Supplier of the Year by General Motors during a virtual ceremony honoring the recipients of the company's 29th annual Supplier of the Year Awards on Tuesday, June 22, 2021. This is the fourth consecutive year Cleveland-Cliffs/AK Steel has received the award. GM recognized its best suppliers from 16 countries for their performance in the 2020 calendar year. The annual awards highlight [...]
Cleveland-Cliffs Inc. today provided updated financial guidance based on its most recent 2021 financial forecast. The Company's forecast includes the following expectations: Second-quarter 2021 adjusted EBITDA* of $1.3 billion Full-year 2021 adjusted EBITDA* of $5 billion The full-year expectation is based on current contractual business and the conservative assumption that the US HRC index price averages $1,175 per net [...]
Cleveland-Cliffs Inc. is celebrating today the initial six months of continued operation and production of hot-briquetted iron at the Company's state-of-the art Direct Reduction plant in Toledo, Ohio. Cliffs' Chairman, President and Chief Executive Officer Lourenco Goncalves will host Ohio Governor Mike DeWine for a ribbon cutting ceremony on site. The plant employs nearly 160 employees. Cleveland-Cliffs will be live [...]
Baker Botts L.L.P. is pleased to represent Plaintiffs JSW Steel Inc. and JSW Steel Ohio, Inc. in their important antitrust lawsuit filed today in the Southern District of Texas against three of the largest domestic steel companies, Nucor Corp., United States Steel Corp., and Cleveland-Cliffs Inc., including its recent acquisition, AK Steel Holding Corp. The lawsuit alleges that the defendant companies conspired to boycott [...]
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