Steel Mills
September 22, 2016
Bedrock Industries Picked as Suitor for US Steel Canada
Written by Sandy Williams
US Steel Canada has moved closer to a resolution of creditor protection proceedings and a sale of the company. The government of Ontario and Bedrock Industries announced they have signed a Memorandum of Understanding to facilitate the restructuring of US Steel Canada.
The MOU terms are confidential but Ontario says it has agreed to support an acquisition by Bedrock that will protect pensions and post-employment benefits and keep Hamilton and Lake Erie works operating.
