The CEO of Cleveland-Cliffs had no connection to Ashland, as far as we know, until he mentioned it among potential plans regarding the AK Steel acquisition in early December 2019.
Less than three months later, it appears Lourenco Goncalves has no interest in Ashland.
It’s as if Cliffs and the Amanda blast furnace struck up some initial magic on a dating app — there were plenty of checkmarks on Tinder — but as it turns out, the compatibility just wasn’t there.
Basically, Goncalves went to Coldstone Creamery and ordered the Amanda Furnace Special in a Like It size rather than Gotta Have It.
Rip our hearts out, why don’t ya?
Here’s the thing: We’re glad he conveyed a clear message. No matter how hurtful it is, at least he didn’t string us along for months and months and give the area false hope.
Once he realized Ashland doesn’t factor into the market as he initially thought, he said so.
Just like in a relationship, if you’re going to end it, just pull the plug. There’s no sense in beating around the bush.
Let’s move on.
There’s not much mystery here. Goncalves left just a sliver of a chance on the table, but it’s not significant. In fact, he had enough gumption to say Cliffs was avoiding firing the furnace back up in Ashland.
OK, we get it. You don’t need us. Well, the market doesn’t need Ashland Works. Cliffs and AK may live happily ever after, but Ashland isn’t part of the marriage. We’re not even a ring bearer.
At least Goncalves was a straight shooter. We need more transparency like that. We know the hand we’re dealt here. Let’s not fold.