Home / Business and Economy / Cliffs Defends Ontario Plant Decision to Canada
Cliffs Defends Ontario Plant Decision to Canada
27 Oct
Summary
- Cleveland-Cliffs defends its decision to idle an Ontario steel plant.
- The company states it is complying with purchase commitments.
- An updated compliance report was submitted to the Canadian government.
Steelmaker Cleveland-Cliffs Inc. reiterated its stance on idling a plant in Ontario, Canada. The company stated it is adhering to the commitments established when it purchased the asset. This defense was communicated in a letter to the Canadian government on Monday.
Furthermore, Cliffs' subsidiary, Stelco Inc., has submitted an updated compliance report to the Canadian government. This action follows the company's decision regarding the Ontario steel plant, asserting its adherence to prior agreements.
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