AK Steel: Cleveland-Cliffs Rides Major Acquisitions Into 2021

SUGAR LAND--March 09, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Cleveland-Cliffs Incorporated (NYSE:CLF) (Cleveland, Ohio) transformed in a big way last year, following its acquisitions of AK Steel and ArcelorMittal USA. With a wide swath of new and existing assets -- from iron ore extraction through automotive production and manufacturing -- the company's targeted 2021 capital expenditures (capex) are in the range of $600 million to $650 million, up from $500 million spent in 2020.