Stelco

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Hamilton Waterfront Trail, Stelco in background

Stelco is a steel company based in Hamilton, Ontario, Canada.

1 History
2 Environmental Impact
3 Operations
4 References
5 External links

[edit] History

Several existing smaller steelworks combined and were incorporated as the Steel Company of Canada in 1910.^[1] Charles S. Wilcox was the first president of Iron and Steel Company of Canada, (later called simply Stelco), which was formed from five companies:

Canada Screw Company - 1864 Dundas, Ontario
Hamilton Steel and Iron Company - 1861 Hamilton, Ontario
Montreal Rolling Mills - 1790s Montreal, Quebec
Dominion Wire Manufacturing Company - Lachine, Quebec
Canada Bolt and Nut Company - Swansea, Ontario

Hamilton Steel and Iron Company and The Canada Screw Company were founded before 1867 and Montreal Rolling Mills predates to the 1790s by businessman John Bigelow.

Canada Screw Company was founded in 1864 in Dundas, Ontario by J. P. Billington and T. Forsyth and later moved to Hamilton.

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

[edit] Environmental Impact

Many of its main buildings in the north end of Hamilton are built on reclaimed or infilled land, which harmed the drainage of Hamilton and the water ecology of Hamilton Harbour. Several union drives at the plant were unsuccessful, until the founding strike of Local 1005 of the United Steelworkers of America in 1946.

[edit] Operations

In addition to the main Hilton Works, named after the late company president (Hugh Hilton), its operations include Stelco McMaster Works in Contrecoeur Quebec, Stelwire and the Lake Erie Works in Nanticoke on Lake Erie. Stelco Tower, associated with Lloyd D. Jackson Square in downtown Hamilton, has been an office building for the company and others since the 1970s, but has now been completely vacated by Stelco and re-named to 100 King St. West. In 2004, Stelco has been having financial difficulties and has been under court ordered protection from its creditors, including the Deutsche Bank.

Stelco exited bankruptcy (CCAA) protection on March 31, 2006. It has divested itself of several non-core operations, including Stelwire, Norambar (formerly Stelco McMaster Works) and Welland Pipe. The CCAA exit has seen the remaining operations restructured into 9 separate operating businesses, held by the corporate entity of Stelco.

In 2007, Stelco was purchased by US Steel and has since been renamed Hamilton Works - US Steel Canada.

[edit] References

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