Stelco
Latest News
Stelco Adds Three More Facilities to the For-Sale List
06 October 2004 - Stelco Inc. has elected to pursue the sale of wholly owned subsidiaries AltaSteel Ltd. and Norambar Inc., as well as the company's 40% ownership interest in Camrose Pipe Co. Stelco had previously announced its decision to seek buyers for Stelfil, Stelpipe and Stelwire.
Stelco Reacts to 90-Day Notice by USWA Local 8782
04 October 2004 - USWA Local 8782 has issued 90 days notice of a potential strike at Stelco Inc.'s Lake Erie facility. The notice is required under the June 23rd Agreement between Stelco and its USWA Locals.
Talks Back on at Wabush Mines
01 October 2004 - Striking steelworkers will be back at the bargaining table Friday with Wabush Mines in an attempt to reach a settlement for 300 members of Steelworkers Local 6285. The workers have been on strike since July 5.
Stelco and Union Locals Extend June 23rd Agreement
29 September 2004 - Stelco Inc. and its USWA Locals 1005, 8782 and 5238 have agreed to extend their June 23rd Agreement until November 26, 2004.
Court Grants Stelco Extension of Stay Period
27 September 2004 - Stelco Inc. obtained an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring until November 26, 2004.
Latest Monitor Report Available for Stelco Restructuring
21 September 2004 - Stelco Inc. announced the recent filing of the Ninth Report of the Monitor for the company's Court-supervised restructuring.
Stelco Issues Restructuring Update
17 September 2004 - Stelco Inc. issued the following update on its Court-supervised restructuring in response to recent speculation and changes in the trading price of the company's shares:
Canadian Tribunal Rescinds Order for Cold-Rolled Steel Sheet
15 September 2004 - The Canadian International Trade Tribunal (CITT) has rescinded its findings regarding cold rolled carbon steel sheet products from Belgium, the Russian Federation, the Slovak Republic and Turkey.
Court Reschedules Stelco Hearing on Sale of Subsidiaries
08 September 2004 - Stelco Inc. announced that the Court hearing scheduled to take place on Tuesday, Sep. 7, has been rescheduled for September 24, 2004. The hearing is being held to review and, if appropriate, to approve the processes for the sale of Stelwire, Stelpipe and Stelfil.
Stelco to Demolish D Blast Furnace
03 September 2004 - Stelco Inc. will demolish its D Blast Furnace using explosives this Sunday, September 5, 2004. Built in the early 1950s, the approximately 250 foot high D Blast Furnace has been idle since 2000.
Stelco to Sell Stelfil Ltee
02 September 2004 - Stelco Inc.’s Board of Directors has elected to pursue the sale of Stelfil Ltée.
Stelco and Local 8782 Begin Negotiations for Lake Erie Agreement
31 August 2004 - Stelco Inc. announced that the company and Local 8782 have begun negotiations to renew the collective agreement at Stelco's Lake Erie facility.
Stelco Hires Casey to Sell Hamilton Plate Mill
25 August 2004 - Stelco has hired Casey Equipment as Exclusive Sales Agent for the sale of a 148-inch Mesta plate mill.
Stelco Reports 2nd Quarter Results
05 August 2004 - Stelco Inc. reported net earnings of $42 million on sales revenues of $884 million in the second quarter, and net income of $6 million on sales revenue of $1,658 million for the six months ended June 30, 2004.
Stelco Unveils 4-Point Strategy
30 July 2004 - Stelco Inc. unveiled a four-point strategy for the new Stelco that can be realized if the company successfully completes its current Court-supervised restructuring.
Stelco to Close Rod Mill
22 July 2004 - Stelco Inc. announced that it will close its Rod Mill in September of this year. The company says the move is being made in an effort to focus on sustainable and profitable product lines.
Cliffs Comments on Strike at Wabush Mines
12 July 2004 - Cleveland-Cliffs Inc. expressed its disappointed that the United Steelworkers of America have called a strike at Wabush Mines in Canada.
Stelco to Relocate Corporate Offices
30 June 2004 - Stelco Inc. announced that it will relocate its corporate offices from 100 King Street West in Hamilton to the company's Hamilton plant. The move is expected to produce annual savings of $4.5 million beginning in 2005.
Stelco and Union Locals Agree on Process for Talks
24 June 2004 - Stelco Inc. has reached an agreement with its USWA Locals establishing a framework for discussions on restructuring and other matters between now and September 30, 2004.
Stelco Provides Restructuring Update
14 June 2004 - Ernst & Young Inc. has released the Fifth Report of the Monitor on Stelco Inc.'s Court-supervised restructuring under the Companies' Creditors Arrangement Act (CCAA). The report highlights several recent developments, including the lack of progress in stakeholder discussions, and recent court motions by General Motors and Stelco.
