AK Steel Corp reports that the Dearborn plant is closing due to rapidly deteriorating business conditions. The company is shutting down its 350-acre hot rolling, annealing and tempering mill, citing a rapidly deteriorating business environment. The closure will take effect on 5 July. The union has been informed that the closure is a capacity issue and is not related to the economic downturn caused by COVID-19.
AK Steel is part of Cleveland-Cliffs Inc, a Cleveland-based company that mines iron ore and produces steel. The merger was completed in March. The Dearborn site has a long history and was once owned by Ford Motor Co. AK Steel acquired it in 2014 from Severstal, North America.
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