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Cleveland-Cliffs signs go up at steel mill in 'new day' after new steelmaker hires more than 710 more workers
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Cleveland-Cliffs signs go up at steel mill in 'new day' after new steelmaker hires more than 710 more workers

From the ICYMI: Here are the most-read stories from the past week series

New Cleveland-Cliffs signs have gone up at its Burns Harbor steel mill, acquired last year from ArcelorMittal USA.

ArcelorMittal signage came down shortly after the $1.4 billion deal closed in December. New Cliffs signage was just installed, identifying the mill as Cleveland-Cliffs Burns Harbor, including at the main gate and office.

The Cleveland-based steelmaker, which has swollen in size due to its acquisitions of ArcelorMittal USA and AK Steel, brought in $2.3 billion in revenue in the fourth quarter, as compared to $534 million in revenue in the fourth quarter of 2019. The company pulled in $286 million in earnings before interest, taxes, depreciation and amortization, up from $111 million in EBITDA at the same time the previous year.

"It's a new day and a new dawn," said U.S. Rep. Frank Mrvan, who toured the steel mill in Porter County Monday. "We welcome Cleveland-Cliffs to the community and neighborhood. To have a corporate executive who wants to work with union labor is music to my ears. We need an economy that brings workers and employers together and that's centered around our steel industry. Making sure Cleveland-Cliffs and Cleveland-Cliffs workers have everything they need to be productive going forward is extremely important to me."

Cleveland-Cliffs has hired more than 710 steelworkers at former ArcelorMittal mills since it took over, Chairman, President and CEO Lourenco Goncalves said during a Zoom press conference.

Coming Sunday, ride along with Specialist Dyer as he patrols LaPorte.

"We want to be here in Northwest Indiana," he said. "We believe in the Midwest and we believe in the state of Indiana. We plan to grow these mills and hire people. Since we have acquired ArcelorMittal USA we hired 710 more people and continue to hire. We're putting in more shifts. We're working to grow this company. We want to invest so we get a return on investment from these plants 10 years from now and 20 years from now."

Cleveland-Cliffs is planning a series of capital investments at the Burns Harbor steel mill starting this year, Goncalves said.

"Burns Harbor is one of our main plants for flat-rolled and plates," he said. "We're planning a series of investments at Burns Harbor, everything from improvements to more protection for the environment to upgrading the blast furnaces. We're going to make a series of investments in the walking beam furnace and the hearth mill. Burns Harbor is one of our flagship plants and we're going to upgrade it over the next two to three years." 

Cleveland-Cliffs expects to hire more, as its mills were running at capacity, Goncalves said.

The steelmaker just opened applications in Northwest Indiana with the aim of getting 2,300 to 2,500 resumes on file.

"It's a chance for people in our community and neighborhoods to participate in the economy," Mrvan said. "It's a chance to be able to buy a house and have the income to support small businesses. When we look at what Cleveland-Cliffs has done throughout the United States, they are welcome partners going forward."

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Business Reporter

Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.

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