Union supports Lakeside bid for Stelco

[CHIMO]

HAMILTON–The United Steelworkers union is backing a bid by a junior Canadian steel company to bring Stelco's Ontario operations back to life in Hamilton and Nanticoke and put the company back in Canadian hands.

The union said Thursday it would support the effort by Lakeside Steel Inc. (TSXV:LS) to acquire the former Stelco facilities now owned by U.S. Steel (NYSE: X) "based on Lakeside's commitment to respect the collective agreements, support the defined benefit pension plans and fulfill production and employment undertakings at both plants."

Both the USW and Lakeside Steel, led by Hamilton native Vic Alboini, have filed for intervenor status in Federal Court hearings into alleged breaches by U.S. Steel of job and production commitments it made in getting government approval for its $1.2-billion takeover of Stelco.

The government contends U.S. Steel failed to keep the job and production commitments in the former Stelco operations by halting steel making operations in Hamilton and Nanticoke earlier this year.
http://www.thestar.com/business/article/687306#