Industry Minister Mélanie Joly says the federal government could seek financial penalties or a forced sale of Stelco’s Canadian assets if the steelmaker proceeds with its layoffs of up to 500 steelworkers.
“A few possible outcomes of a court process can lead to financial penalties towards a company, forcing them to abide by the commitment, and also a forced divestiture, so forcing them to sell their Canadian assets. Everything is on the table,” Joly told reporters in Ottawa on Oct. 14.
Joly said the federal government expects that Stelco will follow through with its employment commitments, and that a change in market conditions “cannot be used to not follow” those commitments….