Monday, December 05, 2005
Stelco to file amended restructuring plan
As the Stelco turns (or is that twists?)
Stelco Inc. Investor Relations
Stelco Inc. announced early this morning that its Board of Directors has approved an amended restructuring plan for consideration by its creditors.
Courtney Pratt, Stelco President and Chief Executive Officer, said, 'The Board has approved an amended plan taking into account, among other things, the interests of the Company and fairness to our stakeholders. We believe the amended plan addresses those concerns in a fair, reasonable and responsible manner. While the amended plan contains certain new and positive features, including significant cash for our creditors, we are not in a position to say that it is supported by all stakeholders at this time.'
Stelco Inc. Investor Relations
Stelco Inc. announced early this morning that its Board of Directors has approved an amended restructuring plan for consideration by its creditors.
Courtney Pratt, Stelco President and Chief Executive Officer, said, 'The Board has approved an amended plan taking into account, among other things, the interests of the Company and fairness to our stakeholders. We believe the amended plan addresses those concerns in a fair, reasonable and responsible manner. While the amended plan contains certain new and positive features, including significant cash for our creditors, we are not in a position to say that it is supported by all stakeholders at this time.'
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