Cleveland-Cliffs, American steel and iron company based in Cleveland, has completed its acquisition of Stelco Holdings, a Canadian steel manufacturer operating blast furnace and basic oxygen furnace facilities in Ontario. The acquisition, announced in July, was approved by Canadian regulatory agencies in October and finalized in early November.
Following the acquisition, Stelco will continue to operate as a wholly-owned subsidiary of Cleveland-Cliffs, retaining its name and presence in Canada. According to Cleveland-Cliffs, the addition of Stelco strengthens its position as a major producer of flat-rolled steel in North America and broadens its customer base and geographical reach.
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