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Stelco
Latest News
U. S. Steel Keeps Electric Furnace Plans on the Burner, Hopes to Soon Finalize Stelco Sale
02 November 2016 - An electric arc furnace remains in the cards for United States Steel Corp. -- it’s only a matter of finding the right time and place to make the investment, the company’s chief executive said Wednesday.
U. S. Steel Keeps Electric Furnace Plans on the Burner, Hopes to Soon Finalize Stelco Sale
02 November 2016 - An electric arc furnace remains in the cards for United States Steel Corp. -- it’s only a matter of finding the right time and place to make the investment, the company’s chief executive said Wednesday.
U. S. Steel Records Q3 Profit, Reaches Agreeement on Stelco Sale
01 November 2016 - United States Steel Corp. posted a third-quarter profit of US$51 million and has agreed to sell the former Stelco to a private investment firm, the company announced on Tuesday.
United Steelworkers, Others Pressing Canadian Federal Government to Support Steel Industry
22 August 2016 - Calls are mounting for the Canadian federal government to step off the sidelines and take action in support of Canada’s steel industry and its employees, both retired and active, reports The Hamilton Spectator newspaper.
A New Offer Emerges for U. S. Steel Canada
09 August 2016 - An entity that includes shareholders of India’s Essar Global said it has made a formal, binding offer for U. S. Steel Canada, which is operating under creditor protection while it attempts to find a buyer.
Report: Overseas Bidder Looking at U.S. Steel Canada, Essar Algoma
18 July 2016 - A metals trading firm that seems to have lost out on its bid to acquire all of Tata Steel’s U.K. business is turning its attention to overseas targets, reports The (London) Financial Times.
Report: USSC Rejects Essar Global Offer, Two Remain in the Running
28 June 2016 - Essar Global, which last month was disqualified to bid on Canada’s Essar Steel Algoma, reportedly has been dropped as a U.S. Steel Canada suitor as well, according to The Hamilton Spectator newspaper.
U.S. Steel Canada, Essar Algoma Mills Won't Shut in Proposed Merger, Says Investment Firm
22 June 2016 - The investment firm planning to buy Canada’s Essar Steel Algoma has confirmed that it also is bidding on U.S. Steel Canada and intends to merge the two steelmakers, reports The (Toronto) Globe and Mail newspaper.
Report: Investment Firm Hopes to Merge the former Stelco, Essar Steel Algoma
20 June 2016 - A New York-based private equity firm has plans to acquire two ailing Canadian steelmakers and merge the businesses, reports The Hamilton Spectator newspaper.
Falling Prices, Shipments Push U. S. Steel Canada Deep Into the Red
15 March 2016 - U. S. Steel Canada (USSC) posted a CAD144 million (US$107.8 million) operating loss in 2015 due to lower shipments and declining prices, according to a court filing.
Judge Confirms U.S. Steel Debt Claims Against Former Canadian Subsidiary
01 March 2016 - An Ontario judge has sided with United States Steel Corporation, agreeing that the steelmaker is indeed owed more than $2.2 billion from its former Canadian subsidiary, U. S. Steel Canada (USSC).
U. S. Steel Canada Stakeholders in Talks With Potential Buyers, Investors
11 January 2016 - Outside investors are taking a look at buying -- or buying into -- U. S. Steel Canada Inc. (USSC), which has been operating under creditor protection since September 2014, reports The (Toronto) Globe and Mail newspaper.
U.S. Steel Completes Stelco Acquisition, Announces Management Team
01 November 2007 - United States Steel completes its acquisition of Stelco, and names the management team for the newly acquired facilities, which have been renamed as U. S. Steel Canada.
U.S. Steel Reports 3rd Quarter Results
31 October 2007 - United States Steel reports net income of $269 million on net sales of $4.35 billion for the third quarter, and net income of $844 million on net sales of $12.34 billion for the first nine months of 2007.
Canadian Ministry Clears U.S. Steel’s Acquisition of Stelco
30 October 2007 - United States Steel receives approval of its acquisition of Stelco from the Canadian Minister of Industry under the Investment Canada Act.
Stelco Shareholders Okay Acquisition by U.S. Steel
29 October 2007 - Stelco shareholders overwhelmingly approve the corporation’s arrangement for its acquisition by United States Steel during a special meeting of shareholders.
Stelco Reports 3rd Quarter Results, Status of Acquisition
25 October 2007 - Stelco reports net income of $38 million on sales of $634 million for the quarter, and a net loss of $42 million on sales of $1.96 billion for the nine months ended September 30, 2007.
Stelco Reports Interest Rate for Floating Rate Notes
28 September 2007 - The rate of interest per annum for Stelco's floating rate notes due 2016 will be 10.64% for the period from September 30, 2007 to March 30, 2008.
Stelco Announces Details of Proposed Notes Redemption
20 September 2007 - U. S. Steel specifies that Stelco's floating-rate notes due 2016 are to be redeemed on the effective date of the companies’ proposed arrangement under Section 192 of the Canada Business Corporations Act involving Stelco, U.S. Steel and 1344973 Alberta ULC, an indirect wholly owned subsidiary of U.S. Steel.
ArcelorMittal Confirms Acquisition of Wabush Mines
06 September 2007 - ArcelorMittal announces that it will exercise its Dofasco subsidiary’s option to acquire the remaining shares of iron ore and pellet producer Wabush Mines from Stelco and Cleveland Cliffs.
