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U. S. Steel Canada to Sell Bar, Bloom & Billet Mill to Max Aicher North America
Apr. 29, 2010 U. S. Steel Canada Inc. has entered into an agreement to sell the No. 1 Bar Mill and the No. 3 Bloom and Billet Mill located at its Hamilton Works to Max Aicher (North America) Inc., a wholly owned subsidiary of Max Aicher GmbH & Co. KG of Germany. Terms of the transaction were not released.
The company noted that the transaction would allow it to focus on its core operations, further strengthening its position as a leading producer of value-added flat-roll products at its facilities in Hamilton and Nanticoke. The company also emphasized that the balance of the operations at U. S. Steel Canada Hamilton Works would not be affected by the sale.
The sale is subject to regulatory approvals and other customary conditions. Consummation of the sale and the anticipated benefits are both forward-looking statements.
U. S. Steel Canada Inc. is a wholly owned subsidiary of United States Steel Corp.