Indiana News

Cleveland-Cliffs named a GM Supplier of the Year for fourth straight year

Cleveland-Cliffs named a GM Supplier of the Year for fourth straight year

Cleveland-Cliffs named a GM Supplier of the Year for fourth straight year

Cleveland-Cliffs signs have gone up at the former ArcelorMittal Burns Harbor steel mill.

Cleveland-Cliffs Inc., one of the Region’s largest employers, was named GM Supplier of the Year by General Motors, one of its biggest customers.

The Cleveland-based steelmaker, which has swollen in size due to its acquisitions of ArcelorMittal USA and AK Steel, brought in $2.3 billion in revenue in the fourth quarter, as compared to $534 million in revenue in the fourth quarter of 2019. The company pulled in $286 million in earnings before interest, taxes, depreciation and amortization, up from $111 million in EBITDA at the same time the previous year.

It’s the fourth straight year the Cleveland-Cliffs or its predecessor company, AK Steel, has won the award, which highlights global suppliers that exceed GM’s requirements or provide the automaker with innovative technologies.

The Detroit-based automaker recognized its top suppliers from 16 countries as among the best in the automotive industry.

A global team of GM purchasing, engineering, quality, manufacturing and logistics leaders select the winners based on performance last year.

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“As GM works to achieve a future with zero crashes, zero emissions and zero congestion, we are proud to have innovative and dedicated suppliers around the world as partners in this mission,” said Shilpan Amin, GM vice president of global purchasing and supply chain. “Throughout a challenging year, our suppliers have showed resilience and dedication in working toward our shared goal of long-term sustainability for our planet and the communities we serve, while meeting our present needs. We are pleased with what we’ve accomplished together in the past year, and we are excited by the opportunity that lies ahead.”

Cleveland-Cliffs has focused heavily on the domestic automotive market. More than 40% of its sales went to automakers in the fourth quarter of last year.

“We are proud to be named GM Supplier of the Year winner for the fourth straight year. Our leading position in automotive steel is undeniable, and we value GM’s recognition of our outstanding quality, reliability and delivery performance,” said Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs. “This prestigious award recognizes the performance of the Cleveland-Cliffs’ team and our first-class R&D and equipment capabilities, supporting our well-known ability to deliver a more comprehensive offering of high-end steel products to the automotive industry than any other steel supplier in the United States.”

Published at Fri, 25 Jun 2021 13:00:00 +0000