Media reports Tuesday indicated that US Steel Canada has been quietly seeking offers on parcels of its 328-hectare property in Hamilton. According to court documents relating to the company’s efforts to extend its current creditor protection order, the company said any land sales will proceed regardless of the outcome of the ruling.
Chief restructuring officer for US Steel Bill Aziz said in the documents that the company has set a January 22 deadline for offers as part of its "organized" process to sell land. The company is reportedly particularly interested in buyers “who have a track record of redeveloping brownfield industrial properties” but offers from US Steel’s competitors will not be entertained.
Additionally, any potential buyers will reportedly be required to sign a confidentiality agreement before being given access to due diligence information.