Ontario grants Essar funding relief for pension payments

Dec 16, 2013 | 05:37 PM | Thorsten Schier

Tags  Essar Steel Algoma, pension plans, funding relief, Kalyan Ghosh, David Orazietti, steel, Thorsten Schier

NEW YORK — The Ontario government has passed a regulation that provides funding relief for Essar Steel Algoma Inc.’s defined benefit pension plans, the company said Dec. 16.

The new regulation allows for fixed payments over the next three years and extends the amortization period to 2024, the Sault Ste. Marie, Ontario-based company said.....

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