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Stock impact report

Cleveland-Cliffs Applauds DOE's Final Transformer Efficiency Standard Rule [Yahoo! Finance]

Cleveland-Cliffs Inc. (CLF) 
Last cleveland-cliffs inc. earnings: 2/20 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
efficiency standard rule that will provide for the continued utilization of Grain-Oriented Electrical Steel (GOES) in virtually all of Cliffs' current distribution transformer end markets. With this revised rule, the DOE acknowledged the fundamental importance of GOES and the essential role played by Cleveland-Cliffs steel plants in Butler, PA and Zanesville, OH in effectively sustaining the functionality of the U.S. electric grid. Cleveland-Cliffs and the United Auto Workers (UAW) worked collaboratively to educate the DOE on the shortcomings of the originally proposed distribution transformer rule and the danger of relying on Amorphous Metal, which is produced in very limited volumes and exclusively from imported materials. Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and Chief Executive Officer said, "We are grateful that the U.S. Department of Energy (DOE) was open to the feedback provided by Cleveland-Cliffs and our clientele of transformer manufacturers, and adop Show less Read more
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