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Cleveland-Cliffs Elects Shultz Vice President.

Business Editors

CLEVELAND--(BUSINESS WIRE)--March 28, 2000

Richard L. Shultz has been elected Vice President-Reduced Iron Sales and Business Development, Cleveland-Cliffs Inc (NYSE:CLF) announced today.

Shultz, currently Director of Ironmaking Technology, will assume responsibility for the sales of the Circal(TM) hot briquetted iron product from the company's joint venture project in Trinidad and Tobago, and will lead development of other ferrous metallics opportunities for Cliffs. He will continue to lead the technical function for Cliffs Reduced Iron Corporation and provide guidance to the Company's assessment of strategies for dealing with the steel industry's transition into alternate iron making practices and other hot end modifications.

Cliffs also announced that George Chandler, Vice President-Reduced Iron, is retiring at the end of March after 38 years of service.

Prior to joining Cliffs in 1994, Shultz spent 24 years with Armco Steel Corporation in the company's research and development and business development areas. He has been active in the Iron and Steel Society, American Iron and Steel Institute and the American Ceramic Society.

Shultz was graduated from the University of Cincinnati with a Bachelor of Science degree in metallurgical engineering, and earned his master's and Ph.D. degrees in metallurgy at Penn State. In 1996, he was named a Centennial Fellow of the College of Earth and Mineral Sciences at Penn State. In 1998, he became the 50th recipient of the David Ford McFarland Award, recognizing Penn State graduates who have distinguished themselves in the field of metallurgy.

Cleveland-Cliffs is the largest supplier of iron ore products to the North American steel industry and is developing a significant ferrous metallics business. Subsidiaries of the Company manage six iron ore mines in North America and hold equity interests in five of the mines. Cliffs has a major iron ore reserve position in the United States, is a substantial iron ore merchant and is beginning production of hot briquetted iron at a joint venture plant in Trinidad and Tobago.
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Publication:Business Wire
Geographic Code:1USA
Date:Mar 28, 2000
Words:326
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