Steel Mills
September 19, 2015
Conditions Getting Dire for U.S. Steel Canada
Written by Sandy Williams
U.S. Steel Canada is seeking a court order that will allow it to continue the restructuring process beyond this year. Without the order, the company says it would have to cease operations at the end of 2015.
“With a Court Order we can preserve work and meet obligations to approximately 2,200 employees and continue to deliver high-quality steel products to our customers from our two Canadian steelmaking facilities,” said Michael McQuade, President and General Manager of U.S. Steel Canada. “The Court Order, if granted, would also provide additional time to find a consensual restructuring solution, and to conduct a new Sale and Restructuring Process when market conditions improve.”
