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Stelco has begun laying off workers at their Hamilton steel plant, leading to calls for Ottawa to nationalize the company. Nicolas Lamp, associate professor at the faculty of law and school of policy studies at Queens University, says nationalization is about buying time and transparency to make sure we’re acting in…
Context from Wikipedia on the organisations, people and places in this story.
Canadian steel company
Stelco Holdings Inc. is an American steel company based in Hamilton, Ontario. Stelco was founded in 1910 by the amalgamation of several smaller firms. It continued on for almost 100 years until it filed for bankruptcy in 2007 and was bought by U.S. Steel. In 2016, the company was sold to Bedrock Industries of the United States, which took the company public via a second IPO. The company made its debut on the Toronto Stock Exchange on November 3, 2017. In 2024, American steel manufacturer Cleveland-Cliffs acquired Stelco for approximately US$2.5 billion.
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