Thursday, November 11, 2004
Stelco's `saviour' once dumped steel
TheStar.com: "Russian-based OAO Severstal, a bidder for Stelco Inc., hurt the Canadian steel maker in the 1990s by illegally dumping production here.
'Yes, I think it's fair to say that was the case,' Don Belch, a senior Stelco official, said yesterday.
Canadian authorities also confirmed that Severstal and other companies from Russia, China and Mexico dumped steel and injured domestic producers from 1995 to 1998.
Belch, director of trade and market intelligence for Stelco, said in an interview it is difficult to assess whether Severstal's dumping actions significantly affected his company's financial performance.
Numerous North American steel companies, including Hamilton-based Stelco, have been fighting for survival in recent years because of a worldwide glut of production and falling prices. That led to extensive dumping of steel at below the cost of production into other countries."
'Yes, I think it's fair to say that was the case,' Don Belch, a senior Stelco official, said yesterday.
Canadian authorities also confirmed that Severstal and other companies from Russia, China and Mexico dumped steel and injured domestic producers from 1995 to 1998.
Belch, director of trade and market intelligence for Stelco, said in an interview it is difficult to assess whether Severstal's dumping actions significantly affected his company's financial performance.
Numerous North American steel companies, including Hamilton-based Stelco, have been fighting for survival in recent years because of a worldwide glut of production and falling prices. That led to extensive dumping of steel at below the cost of production into other countries."
Labels: stelco
