CLEVELAND, Ohio (WLUC) - Cliffs Natural Resources is returning to its historical name.
The company announced Tuesday morning that it has renamed itself Cleveland-Cliffs Inc. The name change is part of the celebration of the 170th anniversary of the company and is effective immediately.
"The historical name Cleveland-Cliffs is synonymous with our strong heritage, and is the perfect one for our next era of growth," said Lourenco Goncalves, Chairman, President and Chief Executive Officer, in a press release. "As we did more than 60 years ago, when we adopted pelletizing as a smart business opportunity to utilize American iron ore and provide the domestic blast furnaces with customized pellets, Cleveland-Cliffs is once again reinventing itself as the supplier of high-quality iron units to the Great Lakes region. With our expansion into the production of Hot-Briquetted Iron (HBI) to supply the growing electric arc furnace steel industry, Cleveland-Cliffs is the best name to represent our strong present and our bright future."
The Company's NYSE stock ticker symbol "CLF" will remain the same.