CHICAGO U.S. Steel Corp. may be considering a restructuring of its Canadian operations, according to a union official.
"Restructuring" was the subject of a meeting slated to take place between Pittsburgh-based U.S. Steel and the local unions representing the steelmakers Canada operations, United Steelworkers union Local 1005 president Rolf Gerstenberger told AMM July 11.
"The topic was The restructuring of U.S. Steel. Thats the way it was presented to us, and thats why we went to the meeting," Gerstenberger said. However, the meeting was called off after the local unions declined to sign a confidentiality agreement required by U.S. Steel before the presentation proceeded, he said.
The restructuring probably relates to U.S. Steels Canada operations because the Canadian locals most likely would not have been called to a meeting to discuss changes to the steelmakers U.S. operations, Gerstenberger said. He said he had no specific information about the potential changes.
"I was told they wanted to have a meeting with the local about U.S. Steel restructuring," Gerstenberger said. "Everything else is just rumors or variations on rumors. And for every one (rumor), there are 100 more."
U.S. Steel has a policy of not commenting on "market rumor or speculation," a company spokeswoman told AMM July 11.
The steelmaker planned earlier this month to meet with the Canadian locals about "operational issues" (amm.com, July 3).
USW Local 1005 represents workers at the Hamilton Works in Hamilton, Ontario, while Local 8782 represents workers at U.S. Steels Lake Erie Works in Nanticoke, Ontario.
Local 8782 did not immediately respond to a request for comment July 11.
U.S. Steels two Canadian operations, which employ about 2,000 people, have the capacity to produce about 2.6 million tons of steel per year, according to the companys website.