Stelco
Latest News
Fluor to Provide Maintenance Excellence Program for Stelco
09 August 2005 - Fluor Corp.’s Canadian subsidiary has been awarded a contract from Stelco Inc. to provide asset productivity and maintenance improvement consulting services as part of Stelco’s strategy to strengthen its competitive position.
Ontario Minister of Finance Responds to Stelco Plan Outline
09 August 2005 - Stelco Inc. has received a letter from The Honorable Greg Sorbara, Minister of Finance for the Government of Ontario regarding funding of Stelco’s pension plans, and Stelco's Plan Outline.
Stelco Reports 2nd Quarter Results
05 August 2005 - Stelco Inc. reported net earnings of $40 million on net sales revenue of $888 million for the quarter and net earnings of $89 million on net sales revenue of $1,856 million for the six months ended June 30, 2005.
Stelco Court Monitor Files 34th Report
01 August 2005 - Stelco Inc.’s court-appointed Monitor has filed its thirty-fourth report regarding the company's Court-supervised restructuring. The Report provides the Court with updated information regarding the process for the filing of and determination of claims by the USW International and USW Locals 8782 and 5328.
Norambar Establishes New Credit Facility
01 August 2005 - Norambar Inc. has obtained an arrangement for a new credit facility.
Steelworkers Local 8782 Issues Strike Notice to Stelco
28 July 2005 - The United Steelworkers' Local 8782 has sent a letter to Stelco Inc. CEO Courtenay Pratt, informing him that, as of Wednesday, July 27 2005, the union is serving 90-day strike notice.
Court Grants Stelco Additional Extension of Stay Period
19 July 2005 - Stelco Inc. was granted an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring. Scheduled to expire July 18, 2005, the new order extends Stelco’s stay period until September 9, 2005.
Stelco Court Monitor Files 33rd Report
18 July 2005 - Stelco Inc.’s court-appointed Monitor has filed its thirty-third report regarding the company's Court-supervised restructuring. The Report provides updated information regarding meetings held with shareholder groups, the lack of consensus among shareholder groups, current industry conditions and their impact on Stelco’s financial results, and Stelco’s request for extension of the stay period.
Stelco Files Restructuring Plan Outline
18 July 2005 - Stelco Inc. has filed a restructuring plan outline that it says is designed to ensure a viable company over the long term and provide lasting benefits for its stakeholders.
Stelco to Seek Extension of Stay Period
13 July 2005 - Stelco Inc. announced that it will appear in Court on July 18, 2005 to seek an extension of the stay period in its Court-supervised restructuring from that date until September 9, 2005.
Stelco Comments on Georgian Windpower Situation
01 July 2005 - Stelco Inc. commented on reasons issued by the Superior Court of Justice (Ontario) regarding an application brought by Georgian Windpower Corp. (GWC) and heard by the Court on June 27, 2005.
CITT Rescinds Hot Rolled Steel Plate Orders
28 June 2005 - The Canadian International Trade Tribunal (CITT) has rescinded its June 27, 2000, finding on dumped hot rolled carbon steel plate from Brazil, Finland, India, Indonesia, Thailand and Ukraine and subsidized hot rolled carbon plate from India, Indonesia and Thailand.
Stelco Obtains Conditional Extension of Stay Period
28 June 2005 - Stelco Inc. has been granted an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring from July 8, 2005 until July 18, 2005.
George Adams Calls it Quits as Stelco Mediator
27 June 2005 - Mediation talks between Stelco Inc. and a number of its stakeholders, conducted for the past month under the direction of the Hon. George Adams, have ended.
Stelco Court Monitor Files 32nd Report
22 June 2005 - Stelco Inc.’s court-appointed Monitor has filed its thirty-second Report regarding the company's Court-supervised restructuring. The Report provides updated information regarding the issuance of Stelco's guidance update on June 1, 2005; cash flow results for the entities that filed under CCAA, including variances from the forecast included in the Monitor's 26th Report; and the mediation process.
Steelworkers Renew Strike Mandate at AltaSteel
03 June 2005 - Members of the United Steelworkers' Local 5220 at Stelco Inc.'s Edmonton subsidiary, AltaSteel, have voted 97% in favor of renewing the strike mandate first granted to the local's bargaining committee last September during ongoing contract negotiations. The mandate had been renewed in February.
Stelco Revises Earnings Guidance
03 June 2005 - Stelco Inc. has adjusted its earnings expectations for the second quarter of 2005. The company says that while it continues to expect solid performance from a historical perspective, second quarter operating earnings are now expected to be considerably below the level of the first quarter of 2005. The decrease is attributed primarily to lower spot market prices, higher energy costs and the flow-through of higher-cost inventory produced in the first quarter.
Stelco Court Monitor Files 31st Report
31 May 2005 - Stelco Inc.’s court-appointed Monitor has filed its thirty-first Report regarding the company's Court-supervised restructuring. The Report provides updated information regarding the mediation process initiated by Court Order on May 19, 2005. The Monitor notes that the mediator, the Hon. George Adams, began holding one-on-one meetings with stakeholders on May 24. That process is continuing.
Stelco Comments on Court Directives on Mediation
20 May 2005 - Stelco Inc. has commented on decisions made by the Superior Court of Justice (Ontario) following a hearing held earlier this week in the matter of the Company's Court-supervised restructuring.
Stelco Court Monitor Files 30th Report
19 May 2005 - Stelco Inc.’s court-appointed Monitor has filed its thirtieth Report regarding the company's Court-supervised restructuring. The Report provides updated information regarding the proposal for a mediation process, which was originally outlined in the Monitor's 29th Report.
