Stelco loses $88M as prices fall and upgrade project stifles shipments
They fell over the summer as the company upgraded its blast furnace.
Stelco reports Q4 loss on challenging market conditions, steel price drop
Average steel selling price for the quarter was down 28% compared with last year.
Stelco makes no net profit in Q3 as revenues drop 23%
Revenues were $475 million, down from $619 million in the third quarter of 2018.
Stelco buys remaining 37 acres next to Hamilton Works
Plans to capitalize on the demand for industrial lands in the Greater Toronto and Hamilton Area.
Stelco pushes PM for help dealing with ‘changing landscape’ for steel
Emergency import restrictions on seven products that posed a “serious threat” to Canada’s steel industry are about to expire.
Stelco supports its intelligent operations with AI deal
Canvas Analytics technology to bridge the gap between workforce knowledge and curated IoT.
Stelco says measures help steel prices as it focuses on domestic market
US tariffs have helped accelerate the steel maker’s plans to focus on under-served markets in Canada.
Stelco shares climb more than 10 per cent as CEO downplays tariff impacts
The Hamilton-based steel producer paid about $39 million in tariffs in the third quarter.
Stelco reports earnings of $125M in Q3, a sharp jump from last year
Volumes shipped by the Hamilton steelmaker surged more than 42% to 586 million tons.
Stelco says higher steel demand fuels Q1 volume and price growth
Revenue up 7% , but short of analyst expectations of $510 million.
Stelco net income higher in first report since IPO launch
Plans to use the money for capital investments, pension payments, and to increase its offerings in specialized steel products.
Stelco looking to raise $200M in IPO, shares priced between $16 and $18
Bedrock Industries is expected to hold a roughly 86.5% interest in the company following the offering.
Steelworkers ratify agreements in Stelco restructuring
New contracts maintain wages, benefits, pensions and other terms for 540 USW members.
Stelco seeks court OK to move ahead with restructuring
Proposal would preserve 2,100 jobs at the company’s facilities in Hamilton and Lake Erie.
US Steel Canada will be sold to Bedrock pending Court approval
Sale will release US Steel from all claims relating to environmental, pension and other liabilities.
Essar shareholder group bidding on US Steel Canada
…But the former Stelco is not keen on the group’s offer.
USW wants court to open “secret deal” between Feds and US Steel
Steelworkers union and the City of Hamilton have filed a joint motion in Superior Court.
Ontario objects to parts of US Steel’s financing plan
Concerned about conditions attached to $185 million in temporary funding.
US Steel Canada files for CCAA protection
Former Stelco cites $2.4B of operating losses since 2009.
UPDATE: Lake Erie Works steelworkers vote no to final US Steel contract
US Steel posts Q2 $79 million loss, blames labour dispute and a slow economy.
Way cleared for Ottawa to pursue US Steel hearing
The Supreme Court of Canada has cleared the way for a Federal Court hearing on claims by Ottawa that US Steel failed to live up to jobs and production promises it made in 2007 when it bought steelmaker Stelco.
Foreign control creates economic chaos
Workers rally in Hamilton over U.S. Steel pension debacle
Labour and U.S. Steel are sticking to their guns in a pension “fiasco” being blamed on waffling by the federal Conservative government.