(Cleveland, OH) - A large steel company with local ties has been sold. ArcelorMittal has been sold to Cleveland-based steelmaker Cleveland-Cliff Inc. ArcelorMittal has several facilities in northwest Indiana and has a partial interest in I/N Tek-I/N Kote in the New Carlisle area.
The acquisition was valued at $1.4 billion. According to a press release, the deal will make Cleveland-Cliffs the largest flat-rolled steel producer in North America.
