By Associated Press - Tuesday, May 5, 2020

DEARBORN, Mich. (AP) - A steel plant with 343 employees in suburban Detroit will close in July.

AK Steel Corp. said the Dearborn factory is closing “due to rapidly deteriorating business conditions.” The company informed state officials in a letter dated Monday.

AK Steel is part of Cleveland-Cliffs Inc., the Cleveland-based company that mines iron ore and makes steel. The merger was completed in March.

AK Steel, based in West Chester, Ohio, is described as a leading producer of flat-rolled carbon, stainless and electrical steel products.

The Dearborn site has a long history and once belonged to Ford Motor Co. AK Steel acquired it in 2014 from Severstal North America.

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