Stelco local unions recently endorsed a set of seven principles that they will use to evaluate any plan to restructure Stelco. At their meeting, the unions agreed that Stelco must be restructured as one company, not sold off in parts.

In addition to the commitment to restructure Stelco as one company, the union's principles include that:

• Restructuring must be accomplished without concessions from union members or retirees.
• There must be a plan to secure the pension benefits of union members and retirees.
• The company must commit to substantial reinvestment into the businesses and to continue to operate its facilities.
• The company must be financially structured in such a way that it is viable for the long term.
• The company must have a business plan that allows it to be successful and a management capable of carrying it out.
• The company must commit to work with the union and its members in a constructive and respectful manner.

"We want to make it clear to Stelco and any potential purchaser that restructuring and/or a sale cannot be accomplished without the union's involvement based on these principles," said Steelworkers' National Director Ken Neumann. He said that, despite a number of interested purchasers and offers that have come forward recently, the union will also go forward and seek potential purchasers based on the Steelworkers' principles.