U.S. Steel Canada Selling Bar, Bloom and Billet Mills
U.S. Steel Canada Inc., a wholly owned subsidiary of United States Steel Corp., will sell the No. 1 Bar Mill and the No. 3 Bloom and Billet Mill at its Hamilton Works to Max Aicher Inc., a wholly owned subsidiary of Max Aicher GmbH & Co. KG of Germany. Terms of the transaction, which is still subject to certain government approvals, were not released.
The balance of the operations at U.S. Steel Canada Hamilton Works will not be affected by the sale. The transaction will allow U.S. Steel Canada to focus on its core operations, further strengthening its position as a producer of value-added flat-roll products at facilities in Hamilton and Nanticoke, say company officials.
Additionally, U.S. Steel Canada and the United Steelworkers have reached a three-year labor contract at the Lake Erie Plant in Hamilton. The plant had been idled during the negotiations. Company officials say steel finishing, coke-making and steelmaking operations will be restarted in phases during the second quarter.