Steel Mills
October 11, 2015
Court Approves Separation of US Steel From USS Canada
Written by John Packard
Late on Friday, a Canadian judge ruled U.S. Steel could sever ties with U.S. Steel Canada and that the Canadian facility would to forward as a new entity. The judge also ruled in favor of U.S. Steel as he permitted the company to suspend health care benefits to 20,600 pensioners as well as property taxes. We do not know for how long as the judge is expected to release details on his ruling on Tuesday of this week.
As part of the agreement, U.S. Steel will “not be generating any sales on behalf of USSC” and that they intend to load its production on the company’s U.S. based steel mills.
