U.S. Steel defended its decision, accusing Cleveland-Cliffs of spreading misinformation and false rumors. The dispute underscored the competitive tension within the steel industry.
Support from United Steelworkers
Cleveland-Cliffs’ acquisition of Stelco has received full support from David McCall, international president of the United Steelworkers (USW), adding 1,800 more USW employees to its workforce. Goncalves praised Stelco’s respect for unions and its employee relations, noting that Stelco is a perfect cultural fit for Cleveland-Cliffs.
“We look forward to proving that our ownership of Stelco will be a net benefit for Canada, the province of Ontario, and the cities of Nanticoke and Hamilton,” Goncalves said.
Operational Continuity
Stelco operates two sites in Ontario, shipping approximately 2.6 million net tons of flat-rolled steel annually. After the acquisition, Stelco is expected to retain its name and headquarters in Hamilton, Ontario, operating as a wholly owned subsidiary of Cleveland-Cliffs.
