CLF - Mergers and acquisitions

Cleveland-Cliffs Inc. (NYSE:CLF) announced today that it has successfully completed the acquisition of Ferrous Processing and Trading Company, including certain related entities ("FPT"). The final necessary regulatory clearances in connection with the transaction were obtained on November 17. FPT is now a wholly owned subsidiary of Cleveland-Cliffs Inc. FPT, which was recently awarded Fastmarkets' 2021 Scrap Company of the Year, is a leading prime ferrous scrap processor in the United States. FPT currently processes approximately three million tons of scrap per year, approximately half of which is prime grade. Cliffs expects to grow its prime scrap presence through its existing relationshi

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) today reported fourth-quarter and full-year results for the period ended December 31, 2020. On December 9, 2020, Cleveland-Cliffs completed the acquisition of substantially all the operations of ArcelorMittal USA LLC ("ArcelorMittal USA"), which has since been renamed to Cleveland-Cliffs Steel LLC. The results set forth in this release only consider the operating results of Cleveland-Cliffs Steel LLC for the period from December 9, 2020 through December 31, 2020. Due to the transformative nature of the ArcelorMittal USA acquisition, the Company has updated its segment structure to coincide with its new business model. T

PALM BEACH,  Fla., Dec. 22, 2020 /PRNewswire/ -- During the current pandemic, most investors are focusing on gold or silver and other ores & metals, but fluorspar should also be on their radar… not because it trades like gold and silver, but because it is a necessary component in sectors that are projected to grow significantly over the next several years. Fluorite is used for several purposes. The primary users are the chemical, metallurgical, and ceramic industries, but it is also an essential component in the lapidary and optical industry. There are three different grades of processed fluorite: ceramic, metallurgical and acid. Acid grade fluorspar is the most purified form of fluorite

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it has successfully completed the acquisition of substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries (“ArcelorMittal USA”), forming the largest flat-rolled steel producer in North America. On a full-year 2019 basis, the combined Company generated pro-forma revenues of approximately $17 billion and combined adjusted EBITDA of approximately $1.7 billion, including previously disclosed expected synergies. In connection with the acquisition of ArcelorMittal USA, which includes the interests of ArcelorMittal USA of 60% in I/N Tek L.P. and 50% in I/N Kote L.P., Cleveland-Cli