Steel Mills
June 11, 2017
Stelco Sale to Bedrock Approved
Written by Sandy Williams
Canada’s Stelco has finally arisen from the ashes of the U.S. Steel bankruptcy. The Ontario Superior Court approved the sale of the mill to Bedrock Steel on Friday, June 9. The company hopes to close the transaction by June 30 and emerge from CCAA protection.
“Today marks the turning of the page on a new chapter for Stelco,” said Michael A. McQuade, president and general manager of Stelco. “Looking forward, this transaction with Bedrock will allow Stelco to compete and succeed in the North American steel market. While our industry continues to face a variety of headwinds, Stelco is well positioned for a bright and prosperous future.”
