InvestUP Board Member Cleveland-Cliffs announced Monday that it was named to the Fortune 500 list for the first time since its transformation from a mining company to become the largest flat-rolled steel company and the largest supplier of steel to the automotive industry in North America. The company’s revenue of $20.4B earned the ranking of 171 on the list for 2022, surpassing its previous highest ranking ever of 366 in 2012.
“Our inclusion on this year’s Fortune list of companies—particularly our position well within the 200 largest ones—is another demonstration of our remarkable transformation,” said Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President, and CEO. “Despite all the challenges imposed by the COVID-19 pandemic and the long-lasting consequences to supply chains still affecting our clients as of today, we grew tenfold in just two years, from $2 billion in revenues to over $20 billion in revenues in 2021.” Read more here.
