Stelco gets OK to proceed with AltaSteel sale

Dec 19, 2005 | 08:17 AM | Scott Robertson

The Ontario Superior Court of Justice late last week approved Hamilton, Ontario,-based Stelco Inc.'s sale of its AltaSteel Ltd. mini-mill in Edmonton, Alberta, to Moly Cop Steel Inc., an affiliate of South African steel processor Scaw International Sarl.

The financial terms of the deal will remain sealed by the court until the transaction closes. When it does, Stelco will be left with only two integrated steel mill properties its plants in Hamilton and Nanticoke, Ontario.....

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