Stelco Inc. announced that the Superior Court of Justice (Ontario) has agreed to a request to adjourn motions in the matter of the company's Court-supervised restructuring that were scheduled to be heard Thursday.

The request, heard in Court Thursday morning, was made at the initiative of the Court-appointed Monitor and with the consent of the parties that had brought the motions (the USW International and five USW Locals) and filed a responding motion (the company).

Under the terms of the initiative, the motions have been adjourned sine die (without a date being fixed for a future hearing in the matter). They may be brought back on not less than 48 hours notice over two business days and on the term that no additional materials in respect of the motions will be filed prior to the giving of such notice.

Courtney Pratt, Stelco President and CEO, said, "We continue to pursue a restructuring plan that is achievable, fair and reasonable for all stakeholders. Our goal remains the emergence of a viable and competitive Stelco at Lake Erie and in Hamilton."

Stelco Inc. is a large, diversified steel producer involved in major segments of the steel industry through its integrated steel business, mini-mills, and manufactured products businesses.