July 22, 2017 9:24 PM ET

Metals and Mining

Company Overview of Stelco Inc.

Company Overview

Stelco Inc. manufactures steel products for use in manufacturing of household goods and appliances. The company offers its products for applications in steel doors, dishwashers, dryers, and bathtubs. It serves automotive, construction, infrastructure, manufacturing, and pipe and tube markets. Stelco Inc. was formerly known as U.S. Steel Canada Inc. and changed its name to Stelco Inc. in July 2017. The company was founded in 1910 and is based in Hamilton, Canada. Stelco Inc. is a former subsidiary of United States Steel Corporation.

386 Wilcox Street

P.O. Box 2030

Hamilton, ON L8N 3T1

Canada

Founded in 1910

3,542 Employees

Phone:

905-528-2511

Fax:

905-308-7002

Key Executives for Stelco Inc.

Chief Financial Officer
Age: 62
Chief Restructuring Officer
Age: 60
Secretary and General Counsel
Vice President of Corporate Communications and Public Affairs
Director of Human Resources
Age: 49
Compensation as of Fiscal Year 2017.

Stelco Inc. Key Developments

U.S. Steel Canada Rejects Bid From Essar

U.S. Steel Canada Inc. has rejected the bid from Essar Global Holdings Limited to acquire the company. It said that Essar isn't qualified to be a buyer of the company as Essar failed to provide sufficient evidence that it has the financial ability to buy and operate it.

Ontario Steel Offers To Acquire U.S. Steel Canada

Ontario Steel Investment Ltd, a consortium of steel industry specialists submitted an offer to acquire U.S. Steel Canada Inc. The consortium includes a group that includes shareholders of Essar Global. The offer includes the assumption of CAD 954 million ($725 million) in liabilities under U.S. Steel Canada’s pension plan and a commitment to provide CAD 25 million toward post-employment benefits for U.S. Steel Canada’s past and present staff. “Our offer is the culmination of 18 months of discussions with all of the key stakeholders to find the best outcome for the business,” Ontario Steel said.

U.S. Steel Canada Up For Sale

U.S. Steel Canada Inc. is up for sale. Justice Herman Wilton-Siegel has given U.S. Steel Canada four months to find a buyer. Justice Herman Wilton-Siegel ordered the protecting shield extended to November 30, 2016 for giving a potential buyer to negotiate deals with workers, the provincial government and other stakeholders. Justice Herman Wilton-Siegel said, "The evidence before me doesn't warrant imposing any harder deadlines. This remains very much a day-by-day evaluation."

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 1, 2016
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