Mittal Steel eyes Stelco subsidiaries

Mittal Steel eyes Stelco subsidiaries

Mittal Steel Co. announced during a meeting with the United Steel Workers of America (USWA) earlier this week that it was interested in Canadian steelmaker Stelco's non-core subsidiaries AltaSteel Ltd., Norambar Inc., Stelwire Ltd. and Stefil Ltée. Stelco reportedly agreed with USWA to delay the sale of the units until the end of this week. However, USWA has asked Stelco for an extension so that it may engage in further negotiations with Mittal.