One of Butler County’s largest employers, AK Steel has been sold to iron ore mining company Cleveland-Cliffs in a move both organizations announced earlier this morning.
The all-stock deal is valued at $1.1 billion.
Butler County Commissioner Leslie Osche said she did see details in the deal that she believes are positives for AK Steel.
“I think in reading the information it’s a positive that they’re talking about the electric arc furnaces, which we have here in Butler,” Osche said. “And they’re still talking about the specialty automotive steels which are manufactured here and have the potential to be manufactured here.”
Osche did point out though she has not heard the organization’s long term plans.
“I am hopeful and I think we are a resiliant community that will take whatever challenges or opportunities come and make the best of them,” Osche said.
The deal is expected to close in the first half of 2020.