CCI completes acquisition of AK Steel

Lourenco Goncalves, chairman, president and chief executive officer, CCI

CLEVELAND — Cleveland-Cliffs Inc. announced today that it has successfully completed the acquisition of AK Steel Holding Corporation, integrating North America’s largest producer of iron ore pellets downstream into the production of steel and specialty manufactured parts for the automotive industry, a CCI press release states.

The combined company will be led by chairman, president and chief executive officer, Lourenco Gon-calves.

“This is a new era for Cleveland-Cliffs as a producer of differentiated, high quality iron ore, metallics and steel in North America. The new Cliffs will begin from a unique position of strength in our industry, with a dynamic combination of assets including two efficient integrated blast furnace steel mills, two electric arc furnace plants, a new state-of-the-art HBI plant and several other highly technologically developed facilities.

“We will be catering to a desirable customer base and primarily doing business in the United States, the most resilient manufacturing economy in the world.”

CCI owns the Tilden Mine in National Mine and the Empire Mine in Palmer.