Industry Canada

Industry Canada

May 06, 2009 09:11 ET

Industry Minister Clement Holds U.S. Steel to its Commitments

OTTAWA, ONTARIO--(Marketwire - May 6, 2009) - The Honourable Tony Clement, Minister of Industry, today made the following statement in response to U.S. Steel's recent production cutbacks in Canada.

"When U.S. Steel acquired Stelco Inc. in 2007, it committed to a series of undertakings regarding, among others, capital expenditures, research and development and production. U.S. Steel has recently cut production and laid off employees at its Canadian operations.

"I am concerned by the actions of U.S. Steel in cutting operations in Canada and by the impact this will have on its workers. While I recognize that these are challenging economic times, we expect the company to live up to its commitments.

"I have sent U.S. Steel a demand letter under section 39 of the Investment Canada Act, asking the company to comply with its undertakings. A demand letter is the first step in the enforcement process under the Investment Canada Act."

Contact Information

  • Office of the Honourable Tony Clement
    Minister of Industry
    Pema Lhalungpa - Press Secretary
    613-995-9001
    or
    Industry Canada
    Media Relations
    613-943-2502