Stelco Inc. announced today that all of the closing conditions regarding the previously announced transaction with Bedrock Industries Group LLC have been satisfied and that the acquisition of the company by Bedrock Industries has closed.
Stelco had been operating under the protection of the Companies' Creditors Arrangement Act (CCAA) since being granted an initial stay of proceedings in September of 2014. The Company has now emerged from CCAA protection and has formally changed its name to Stelco Inc., formerly known as US Steel Canada.