Stelco Holdings Inc. says it will indefinitely idle finishing operations at its steel plant in Hamilton, Ont., due to “market uncertainty,” a move that could affect as many as 500 employees.
The company said on Sept. 28 that it will concentrate production at its Lake Erie Works plant in Nanticoke, Ont. The company added that it will offer jobs at its Lake Erie plant to a “significant” number of affected Hamilton employees.
“In the face of continued market uncertainty and prolonged injury to Stelco’s business resulting largely from steel imports into Canada, we have been forced to make this very difficult decision that will impact as many as 500 Stelco employees,” a company spokesperson said in a statement….