Stelco's employees back restructuring plan with Bedrock Industries
Stelco, formerly U. S. Steel Canada Inc, said its salaried employees, retirees and affiliated groups have agreed to support the company's restructuring plan with Bedrock Industries Group. The steel producer, which has been operating under creditor protection since 2014, entered into a restructuring deal with Bedrock in late 2016, shortly after United States Steel Corp (NYSE: X) agreed to transfer ownership to the U.S. private equity firm. The agreement remains subject to court approval. Bedrock previously said it will continue operating Stelco's plants in Hamilton and Nanticoke, Ontario.
19 April 2017•3 mins read
