Stelco Takes Another Step Toward Completing Sale
05/31/2017 - Members of the United Steelworkers union are getting their first look at tentative labor agreements between their locals and the investment firm looking to buy Canada’s Stelco, reports The Hamilton Spectator newspaper.
The agreements are significant because they are among the last hurdles to clear before Stelco and U.S.-based Bedrock Industries can execute the sale, allowing the steelmaker to emerge from creditor protection.
Attorneys involved in Stelco’s creditor protection case are due in court on 9 June to argue that the judge presiding in the case should sign off on the sale.
The Spectator has more on the story here.
