Wednesday, May 06, 2009
Canada warns U.S. Steel about temporary shutdown
When US Steel announced that the former Stelco plant in Hamilton would be shut down "temporarily", a lot of people were upset and called for action. This seems to be the first step in the action.
From the Canadian Press, via Yahoo Finance News
The Canadian government is warning U.S. Steel it must live up to production commitments at the former Stelco Inc. plants in Ontario.
Industry Minister Tony Clement said he has sent a 'demand letter' to the U.S. giant that it's temporary shutdown at plants in Hamilton and Nanticoke, Ont., may be in violation of commitments it made when it bought the Canadian steel producer in 2007.
[...]
In Clement's announcement, the minister said the demand letter is the first step in the enforcement process under the Investment Canada Act.
From the Canadian Press, via Yahoo Finance News
The Canadian government is warning U.S. Steel it must live up to production commitments at the former Stelco Inc. plants in Ontario.
Industry Minister Tony Clement said he has sent a 'demand letter' to the U.S. giant that it's temporary shutdown at plants in Hamilton and Nanticoke, Ont., may be in violation of commitments it made when it bought the Canadian steel producer in 2007.
[...]
In Clement's announcement, the minister said the demand letter is the first step in the enforcement process under the Investment Canada Act.
