Reborn steelmaker Stelco eyes organic, M&A growth: Reuters
Resurrected Canadian steelmaker Stelco Holdings Inc is banking on growth from ramped-up production and acquisitions, Chief Executive Alan Kestenbaum told Reuters, as the 107-year-old company completed its initial public offering. Hamilton, Ontario-based Stelco, owned by U.S. private equity group Bedrock Industries, will use part of its $230 million IPO proceeds on projects that boost capacity at its two steel-processing facilities in southern Ontario. The listing also allows quick access to capital markets if a suitable M&A deal emerges among “numerous” potential targets, Kestenbaum said.
10 November 2017•2 mins read
