Essar permitted to defer pension payments

Jan 14, 2013 | 05:24 PM | Thorsten Schier

Tags  Essar Group, Essar Steel Algoma, special pension payments, Ontario, flat-rolled steel, Kalyan Ghosh, Thorsten Schier

NEW YORK — Canadian flat-rolled steel producer Essar Steel Algoma Inc. has been granted a 12-month deferral of special pension payments by the government of Ontario effective December 2012 to November 2013.
The company would have had to make payments of approximately Canadian $70 million ($71 million) over the period, a company spokeswoman told AMM. ....

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