TITLE

Stelco's Restructuring Plan Receives Court Approval

PUB. DATE
February 2006
SOURCE
Metal Center News;Feb2006, Vol. 46 Issue 2, p77
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the Ontario Superior Court of Justice's approval of the restructuring plan for Stelco Inc. The court stated that the company has been in compliance with all statutory requirements and court orders in accordance with the Companies' Creditors Arrangement Act. Stelco president Courtney Pratt believes that the new Stelco that emerges from the process will be much better positioned to become a viable and competitive steel producer for the long term.
ACCESSION #
19970178

 

Related Articles

  • Stelco Presents Reorganization Plan.  // Metal Producing & Processing;Jul/Aug2005, Vol. 43 Issue 4, p6 

    Reports that steelmaker Stelco Inc. filed a restructuring plan with the court overseeing its bankruptcy process. Sale of non-core assets, arrangement of new credit lines and offering of new stock; Plan to ensure long-term viability for the company and it stakeholders; Comments of president and...

  • Stelco to close Hamilton rod mill in Canada.  // Wire Journal International;Sep2004, Vol. 37 Issue 9, p10 

    Announces the plan of Stelco Inc. to close its rod mill in Hamilton, Ontario. Comments from Courtney Pratt, CEO of Stelco on the factors leading to the closing of the mill; Efforts to restructure Stelco on sustainable and profitable product lines; Company operations.

  • NEW CEO TAKES STELCO HELM; ACKNOWLEDGES CHALLENGE, LOOKING AT RESTRUCTURING.  // Metal Producing & Processing;Jan/Feb2004, Vol. 42 Issue 1, p24 

    Reports on the induction of Courtney Pratt as president and chief executive officer of Stelco Inc. in Canada. Other appointments of the company; Comments of Pratt regarding his duties in his new position; Evaluation of the company's facilities and redirecting resources.

  • OFFERS FOR STELCO FALL SHORT.  // Metal Center News;Mar2005, Vol. 45 Issue 3, p49 

    The article reports that Stelco Inc. has rejected four bids from potential acquirers and plans to seek alternative sources of capital in order to help the company emerge from bankruptcy protection and return to a competitive position in the steel market. Stelco's process unfortunately did not...

  • Stelco Files Restructuring Plan.  // Metal Center News;Oct2005, Vol. 45 Issue 11, p63 

    Reports that Stelco Inc. has filed a restructuring plan with a court in Ontario. Application of a restructuring agreement with the Province including an arrangement for the funding of the company's pension plans; Amount that the province will invest to contribute to Stelco's pension plans;...

  • Stelco Seeks Creditor Protection.  // Metal Producing & Processing;Mar/Apr2004, Vol. 42 Issue 2, p8 

    Reports on the filing for creditor protection and a court-supervised restructuring program of Stelco Inc. in Canada. Financial performance of the firm; Regain competitiveness in the North American flat-rolled steel market; Implementation of the reorganization program.

  • Stelco-Deutsche Bank Recapitalization Plan Approved.  // Metal Producing & Processing;Jan/Feb2005, Vol. 43 Issue 1, p4 

    This article reports that a proposed recapitalization by Deutsche Bank AG has been chosen by Stelco Inc. as its preferred reorganization strategy and approved by the Ontario Superior Court of Justice. The $900-million plan was selected over a proposal from GMP Securities. Stelco, in creditor...

  • Stelco Unveils Strategy Behind Restructuring.  // Metal Center News;Sep2004, Vol. 44 Issue 10, p60 

    Stelco Inc. has unveiled a four-point strategy for a revitalized company following its financial restructuring. Its plan is to build on existing strengths that differentiate Stelco from other steel makers; focus on high-quality products for value-added markets, including automotive; simplify the...

  • STELCO FACES RESTRUCTURING.  // Metal Center News;Mar2004, Vol. 44 Issue 3, p47 

    Reports on the restructuring of Stelco Inc. Focus on restoring financial health and competitive position in North American steel industry; Reports of few operational disruptions; Need to restructure, including reduction of costs; Highlights of the restructuring plan, including divestiture of...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics