Union president: AK Steel to change its name

[TexasTowelie]

AK Steel will change its name, possibly to match owner Cleveland-Cliffs, according to Neil Douglas, president of IAM Local 1943.

He said Cleveland-Cliffs, which purchased AK Steel for $1.1 billion in 2020, sent out an internal email Friday announcing the name change.

Also last year, Cleveland-Cliffs Inc. bought the U.S. assets of ArcelorMittal for $1.4 billion. The deal made Cleveland-Cliffs the largest flat-rolled steel producer in North America, officials said.

Douglas said the name change “makes sense” since Cleveland-Cliffs has acquired so many companies. He doesn’t believe the name change will impact operations at the Middletown Works.

Read more: https://www.daytondailynews.com/business/union-president-ak-steel-to-change-its-name/7BNDKPDGABFDHGI7EX65NYSEWI/

[mahatmakanejeeves]

1. Where did Cleveland-Cliffs get the money? Their stock headed south years ago.

Ask me how I know.

[TexasTowelie]

3. What is the scoop?

Was it part of your portfolio or did you know one of their employees with some dirt on the company? You can send me a PM if you don't want to divulge the information in this thread.

[doc03]

4. I worked for Wheeling Pittsburgh Steel that owned the

coke works. The Bouchard Brothers bought us out and screwed things up then they sold it to the Russian company Severstal.
Then AK bought it from Severstal and now it is CC. I know the guys didn't like working for AK. We changed hands so many times it is hard to keep them straight.

[mahatmakanejeeves]

5. I own shares of Cleveland Cliffs. I am way underwater on it. NT

[doc03]

2. They own the ArcelerMittel plant in Weirton WV and

the Severstal coke ovens in Follanbee WV to. Don't know where the money came from I thought they were only in iron ore and shipping iron ore. From what I hear they aren't so great to work for.