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Stelco

#3619

Rank

$2.59B

Marketcap

CA Canada

Country

Stelco
Leadership team

Mr. Alan Kestenbaum (CEO & Exec. Chairman)

Mr. Paul D. Scherzer (Chief Financial Officer)

Mr. Sujit Sanyal (Chief Operating Officer)

Products/ Services
Manufacturing, Mining, Precious Metals
Number of Employees
1,000 - 20,000
Headquarters
Hamilton, Ontario, Canada
Established
1910
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
STLC.TO
Social Media
Overview
Location
Summary
Stelco Holdings Inc. engages in the production and sale of steel products in Canada, the United States, and internationally. It offers flat-rolled value-added steel, including coated, pre-painted, cold-rolled, and hot-rolled sheet products, as well as pig iron and metallurgical coke. The company sells its products to customers in the construction, automotive, energy, appliance, and pipe and tube industries, as well as to various steel service centers. Stelco Holdings Inc. was founded in 1910 and is headquartered in Hamilton, Canada.
History

The Steel Company of Canada was established in 1910. It was founded after the merging of the Hamilton Steel and Iron Company with the Canada Screw Company , Montreal Rolling Mills , the Dominion Wire Manufacturing Company and the Canada Bolt and Nut Company. Charles S. Wilcox, president of the Hamilton Steel and Iron Company at the time of the consolidation, was appointed the first president of Stelco. He held the position until 1916, continuing on with the company as chairman of the board until his death in 1938.

Several union drives at the plant were unsuccessful until the founding strike of Local 1005 of the United Steelworkers of America in 1946.

In 2004, Stelco had financial difficulties and went under court-ordered protection from its creditors, including the Deutsche Bank. Stelco exited Companies' Creditors Arrangements Act protection on March 31, 2006. Several non-core operations were divested, including Stelwire, Norambar and Welland Pipe. The CCAA exit has seen the remaining operations restructured into 9 separate operating businesses, held by the corporate entity of Stelco.

On August 27, 2007, U.S. Steel purchased Stelco for $1.9 billion – $1.1 billion in cash and assuming $800 million in debt. The company was renamed Hamilton Works – US Steel Canada. The deal closed on October 31, 2007. The company was renamed U.S. Steel Canada Inc. and its shares were delisted from the Toronto Stock Exchange.

In an effort to streamline operations, U.S. Steel announced on March 3, 2009, that it would be temporarily shutting down its Hamilton plant and most of its Lake Erie plant putting more than 2,000 people out of work. This announcement came four months after U.S. Steel laid off 700 employees at the Hamilton plant when it shut down its blast furnace.Market conditions and declining customer orders prompted U.S. Steel to shut down the Hamilton Works on October 1, 2010. 100 jobs were restored when the German Max Aicher steel company bought two steel mills from US Steel, and opened them as "Max Aicher North America". More jobs are expected to be created when the mills are in full production. The Hamilton steel-making and iron-making operations were permanently closed on December 31, 2013.On September 16, 2014, U.S. Steel Canada announced that it would apply for court protection from its creditors. US Steel then stated that it intended to sell all of its remaining operations in Hamilton in the next two months.U.S. Steel Canada was severed from U.S. Steel Corporation in 2015 after it entered Companies' Creditors Arrangement Act protection in 2014. In November 2016, a deal was struck to sell U.S. Steel Canada to Bedrock Industries.

On December 2, 2016, the company took the "Stelco" name again. In 2017, an initial public offering raised CA$200 million for the company.Portions of the Stelco's archives are held at Library and Archives Canada, Brock University, and the Canadian Centre for Architecture.In January 2021 Stelco added pig iron production capability to its Lake Erie blast furnace.Stelco purchased a minority stake in the Hamilton Tiger-Cats professional football team in January 2022.

Mission
Stelco is committed to manufacturing and supplying leading-edge steel products and services to customers around the world and in doing so, creating value for their shareholders and enhancing the lives of the people they employ.
Vision
To be a world-class steel company, trusted by our customers and recognized for our values, commitment to excellence and innovation.
Key Team

Mr. Paul Simon (Gen. Counsel & Corp. Sec.)

Mr. Greg Anderson (VP of Sales)

Trevor Harris (VP of Corp. Affairs)

Mr. William E. Aziz C.A., CPA, CA, CPA, H.B.A. (Chief Restructuring Officer)

Recognition and Awards
Stelco has been recognized multiple times for their commitment to safety and environmentally responsible production, including winning the Ontario Mineral Producer Association Environmental Award in 1999 and the Corporate Environmental Leadership Award by the Hamilton Chamber of Commerce in 2007.
References

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Stelco
Leadership team

Mr. Alan Kestenbaum (CEO & Exec. Chairman)

Mr. Paul D. Scherzer (Chief Financial Officer)

Mr. Sujit Sanyal (Chief Operating Officer)

Products/ Services
Manufacturing, Mining, Precious Metals
Number of Employees
1,000 - 20,000
Headquarters
Hamilton, Ontario, Canada
Established
1910
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
STLC.TO
Social Media