USW wins small victory in ongoing US Steel Canada asset sale

Tuesday, 31 March 2015 02:20:08 (GMT+3)   |   San Diego
       

US Steel Canada workers agreed to delete a clause in the company’s plan to sell its assets that could allow the company's US-based parent buy the assets for amounts it claims it is owed.

According to the USW, workers are eager to ensure their claims, especially for the desperately underfunded pension plans, will be addressed.

A new court hearing has been scheduled for Thursday; during that time the union's lawyers will be able to question the company’s financial advisor, who so far has defended the sales process as the best way to maximize the return on US Steel's assets in Hamilton and Nanticoke.


Similar articles

Algoma Steel signs new iron ore supply contract with US Steel

15 May | Steel News

Stelco signs pellet deal with US Steel, enters option to own 25 percent of Minntac mine

04 May | Steel News

US Steel and Bedrock Industries agree on restructuring and sale of US Steel Canada

02 Nov | Steel News

Private equity firm to purchase and restructure US Steel Canada

21 Sep | Steel News

US Steel Canada rejects Essar Global as potential buyer

27 Jun | Steel News

Court approves US Steel split from Canadian operations

12 Oct | Steel News

US Steel asks Canadian court to approve $2 billion claim against US Steel Canada

27 Apr | Steel News

US Steel Canada looking to sell chunks of Hamilton land

14 Jan | Steel News

US Steel Canada granted permission to restart Hamilton coke ovens

08 Dec | Steel News

US Steel Canada lays off 56 workers following coke oven idle

04 Nov | Steel News