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U.S. Steel wins approval of Canadian unit restructuring
2014-10-09 05:25:00| Steel - Topix.net
The restructuring of U.S. Steel Canada Inc. will go ahead, with its parent company providing $185-million in financing to support the Canadian unit through the end of next year. The steel maker, operating under the protection of the Companies' Creditors Arrangement Act, has won approval of the Ontario Superior Court to receive debtor-in-possession financing from United States Steel Corp. President Barack Obama speaks at Millennium Steel Service in Princeton, Ind., Friday, Oct. 3, 2014, to discuss the economy as part of Manufacturing Day.
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Category:Materials