Stelco Hopes to Enable Auto Steel Sales Through IPO
10/03/2017 - Three months removed from creditor protection, Canadian steelmaker Stelco is considering an initial public offering to help it pay for improvements to its facilities.
But what would it do with its newfound capital?
According to The (Hamilton, Ont.) Spectator, Stelco envisions a CA$65 million to CA$85 million in the Lake Erie Works blast furnace and a restart of a temper mill at its Hamilton Works, along with installation of batch annealing furnaces.
The aim, The Spectator reported, is to produce advanced high-strength and ultrahigh-strength steels for the automotive market.
You can read the full story here.
