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Court approves U.S. Steel plan to cut Canadian unit

2015-10-09 23:11:22| Steel - Topix.net

The Ontario Superior Court has approved a United States Steel Corp. plan to cut loose its Canadian unit, effectively ending ending an eight-year odyssey that included losses that ran into the billions of dollars, battles with governments and acrimonious disputes between the Pittsburgh-based giant and its unionized Canadian employees. U.S. Steel will provide some transition assistance to U.S. Steel Canada Inc. under a plan approved by Judge Herman Wilton-Siegel late Friday.

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