Cleveland-Cliffs ranked on Fortune 500 list

Chairman, president, CEO says ‘main key’ to success is 27,000 employees.

MIDDLETOWN — Cleveland-Cliffs, with a steelmaking plant in Middletown, announced today that it was named to the Fortune 500 list, once again among the top 200 companies.

Cleveland-Cliffs’ 2022 revenue of $23 billion earned the Ohio-based company the ranking of 170 on the list for 2023. The Fortune 500 list ranks companies that are incorporated and operate in the U.S. by total revenues for their respective fiscal years.

“As we grow and climb higher on Fortune’s rank, we continue to demonstrate our ability to outperform ourselves year after year,” said Lourenco Goncalves, Cleveland-Cliffs’ chairman, president, and CEO.

He said the “main key” to the company’s success is its workforce of 27,000 employees.

Cleveland-Cliffs purchased AK Steel in Middletown for $1.1 billion in 2020. After that the Cleveland-based company bought the U.S. assets of ArcelorMittal for $1.4 billion, making it the largest flat-rolled steel producer in North America, officials said.

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