Friday, February 06, 2004
Yahoo! News - U.S. group could buy insolvent Slater Steel's Hamilton operations: Union: "Slater had initially hoped to emerge from bankruptcy protection with two of its divisions - Hamilton Specialty Bar, and Atlas Stainless Steels in Sorel-Tracy, Que. - continuing to operate. It abandoned those plans last month, citing high costs and failure to reach cost-cutting deals with unions in both provinces.
The company had sought $3.9 million in labour concessions from a unit of the Confederation of National Trade Unions in Quebec and $5.6 million from the Steelworkers members in Hamilton.
Both unions said they'd been told by Slater that even those cuts wouldn't be enough, and that millions more in savings - as much as $10 million in Hamilton alone - were needed to improve productivity. "
Hamond bought stainless from Atlas/Tracy in the past.
The company had sought $3.9 million in labour concessions from a unit of the Confederation of National Trade Unions in Quebec and $5.6 million from the Steelworkers members in Hamilton.
Both unions said they'd been told by Slater that even those cuts wouldn't be enough, and that millions more in savings - as much as $10 million in Hamilton alone - were needed to improve productivity. "
Hamond bought stainless from Atlas/Tracy in the past.
