August 15, 2017 09:02 PM
Cleveland Cliffs is back. The company has gone back to its historical name, and is no longer known as Cliffs Natural Resources.
The name change is part of the celebration of the 170th anniversary of the Company, and is effective immediately.
Eyewitness News spoke with Frank Jenko, president of Local 2705 out of Hibtac. He said the name change won't affect their members.
But he did tell Eyewitness News that he was disappointed Cliffs' first DRI facility was going to Toledo.
"I wish our lawmakers had done more to help Cliffs invest in Minnesota," Jenko said.
That DRI facility was also mentioned by the CEO, Lourenco Goncalves.
He said in a statement, “The historical name Cleveland-Cliffs is synonymous with our strong heritage, and is the perfect one for our next era of growth. As we did more than 60 years ago, when we adopted pelletizing as a smart business opportunity to utilize American iron ore and provide the domestic blast furnaces with customized pellets, Cleveland-Cliffs is once again reinventing itself as the supplier of high-quality iron units to the Great Lakes region. With our expansion into the production of Hot-Briquetted Iron (HBI) to supply the growing electric arc furnace steel industry, Cleveland-Cliffs is the best name to represent our strong present and our bright future.”
Cliffs had changed its name back in 2008, when it had planned on merging with Alpha Natural Resources. That merger fell through.
Updated: August 15, 2017 09:02 PM
Created: August 15, 2017 09:13 AM
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