Stelco to sell pipe and tubing facility

Stelco to sell pipe and tubing facility

Legally insolvent Stelco Inc., Canada’s largest steelmaker, has agreed to sell its Stelpipe Ltd. plant to Toronto-based Romspen Investment Corp. Stelco says the deal is expected to close in October after they get court and lender approval. No monetary terms were disclosed. Ontario-based Stelpipe, which produces pipe and tubing products, will remain in operation and will retain almost all of its 470 workers.