Bedrock Industries-owned Stelco closes $114 mln land deal
Canadian steelmaker Stelco Inc (TSX: STLC) has acquired thousands of acres of lands owned by Legacy Lands LP for about $114 million. The properties are where the company conducts its operations in Hamilton and Nanticoke, Ontario, including lands in Hamilton that contain the Hamilton Works blast furnace and cast houses, as well as developable lands and port facilities. Stelco said the deal provides for greater operational flexibility and will allow it to grow the core business now and in the future. Stelco, which went public last year, raising $230 million, is majority owned by U.S. private equity group Bedrock Industries.
5 June 2018•3 mins read
