U.S. Steel Canada
Latest News
Stelco Completes Sale and Exits Creditor Protection
03 July 2017 - U.S. investment firm Bedrock Industries has closed on its acquisition of Canada’s Stelco, officially bringing to an end a decade of United States Steel Corporation ownership and nearly three years of uncertainty under creditor protection.
Judge OKs Stelco Sale
09 June 2017 - A Canadian judge approved Stelco’s restructuring plan and sale to U.S. investment firm Bedrock Industries Group on Friday, a decision that will allow the steelmaker to emerge from creditor protection as a standalone business.
Ontario Court Receives Stelco Restructuring Plan
14 March 2017 - Stelco Inc. has submitted a reorganization plan that, if successful, would keep the business intact and preserve more than 2,100 jobs, it has announced.
U. S. Steel Announces Plans to Restart Idled Taconite Facility
03 January 2017 - United States Steel Corp. will restart its idled Keetac taconite mine and pellet plant in Minnesota after securing third-party orders for pellets, the company has announced.
Stelco Takes Another Step Toward Completing Restructuring
12 December 2016 - Canada’s Stelco Inc. said it will move ahead with plans to be sold to New York investment firm Bedrock Industries and will seek court approval for the deal.
U.S. Steel Canada No More. It's Stelco Now.
02 December 2016 - In a move to reassert itself as a Canadian steelmaker that’s now independent of its Pittsburgh-based parent, U.S. Steel Canada is bringing back the Stelco name.
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.
Investment Firm Takes a Step Toward Acquiring U.S. Steel Canada
23 September 2016 - The Ontario provincial government and an American investment firm have set broader terms of a restructuring plan for U. S. Steel Canada Inc., which has been operating under creditor protection for two years.
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.
U. S. Steel Canada Declines New Offer From Essar Global
10 August 2016 - U. S. Steel Canada has rejected a new buyout offer from Essar Global, saying that its new bid is substantially similar to one that was proposed -- and rejected -- earlier this year, according to reports.
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.
Investment Firm Drops Plan to Acquire Canadian Steelmakers
14 July 2016 - A New York-based private equity firm has backed out of a deal to buy Canada’s Essar Steel Algoma and reportedly has dropped a separate bid for another major Canadian steelmaker, U. S. Steel Canada.
Steelworkers Union Rebuffs Would-Be Acquirer of Essar Algoma, Backs Competing Offer
12 July 2016 - The United Steelworkers union said it will not support Essar Steel Algoma’s tentative sale to a private equity firm and instead is pushing for an alternate deal, one with the steelmaker’s former owner.
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.
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 Gets the Go-Ahead to Initiate a New Sales Process
13 January 2016 - A Canadian court has signed off on U. S. Steel Canada Inc.’s plan to try, for a second time, to find a buyer, according to The Hamilton Spectator newspaper.
