|Founded||1910 as Steel Company of Canada (Stelco)|
|Founder(s)||Charles S. Wilcox|
|Headquarters||Hamilton, Ontario, Nanticoke, Ontario|
|Key people||David Rintoul, President - US Steel Canada|
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US Steel Canada (formerly Stelco) is a steel company based in Hamilton, Ontario, Canada. Stelco was founded in 1910 from several smaller firms. It continued on for almost 100-years, until it filed for bankruptcy in 2007 and was bought US Steel. The Hamilton plant has been idle since 2010, and it was announced in late 2013 that it will be permanently closed effective December 31, 2013.
Several existing smaller steelworks combined and were incorporated as the Steel Company of Canada in 1910.1 Charles S. Wilcox was the first president of Iron and Steel Company of Canada, (later called simply Stelco), which was formed from five companies:
- Canada Screw Company – 1864 Dundas, Ontario
- Hamilton Steel and Iron Company – 1861 Hamilton, Ontario
- Montreal Rolling Mills – 1790s Montreal, Quebec
- Dominion Wire Manufacturing Company – Lachine, Quebec
- Canada Bolt and Nut Company – Swansea, Ontario
Hamilton Steel and Iron Company and The Canada Screw Company were founded before 1867 and Montreal Rolling Mills predates to the 1790s by businessman John Bigelow, succeeded by Alured Bigelow, later becoming Pillow & Hersey.citation needed
On August 27, 2007, US Steel purchased Stelco for $1.9 billion--$1.1 billion in cash, and assuming $800 million in debt. The deal closed effective October 31, 2007. The company was renamed U. S. Steel Canada Inc. and its shares were delisted from the Toronto Stock Exchange.
On March 3, 2009, US Steel announced that further consolidating was necessary to maximize efficiency while meeting customer demands. In this regard, they announced a "temporary idling" of the finishing and coking operations at Hamilton Works in Hamilton, Ontario, and the steelmaking and finishing operations at Lake Erie Works near Nanticoke, Ontario. Coking operations at Lake Erie Works will continue production. Approximately 1,500 employees will be affected.
On October 29, 2013, it was announced that the Hamilton operations would be permanently closed on December 31, 2013.2
Many of its main buildings in the north end of Hamilton are built on reclaimed or infilled land, which harmed the drainage of Hamilton and the water ecology of Hamilton Harbour. Several union drives at the plant were unsuccessful, until the founding strike of Local 1005 of the United Steelworkers of America in 1946.
In addition to the main Hilton Works, named after the late company president (Hugh Hilton), its operations include Stelco McMaster Works in Contrecoeur Quebec, Stelwire and the Lake Erie Works in Nanticoke on Lake Erie. The Nanticoke plant was notable because it is of a relatively modern design, and uses far less water than a fear.
Stelco Tower, associated with Lloyd D. Jackson Square in downtown Hamilton, has been an office building for the company and others since the 1970s, but has now been completely vacated by Stelco and renamed to 100 King St. West. In 2004, Stelco has been having financial difficulties and has been under court ordered protection from its creditors, including the Deutsche Bank.
Stelco exited CCAA protection on March 31, 2006. It has divested itself of several non-core operations, including Stelwire, Norambar (formerly Stelco McMaster Works) and Welland Pipe. The CCAA exit has seen the remaining operations restructured into 9 separate operating businesses, held by the corporate entity of Stelco.
In 2007, Stelco was purchased by US Steel and has since been renamed Hamilton Works – US Steel Canada.
In an effort to streamline operations, U.S. Steel announced on March 3, 2009 that it would be temporarily shutting down its Hamilton plant and most of its Lake Erie plant putting more than 2,000 people out of work. This announcement came 4 months after U.S. Steel laid off 700 employees at the Hamilton plant when it shut down its blast furnace.3
Market conditions and declining customer orders have prompted US Steel to shut down Hamilton Works October 1, 2010.4 100 jobs were restored when a German company managed to buy out two steel mills from US Steel.5 More jobs are expected to be created when the mills are in full production.5 It was announced on October 29, 2013 that Hamilton operations will be permanently closed on December 31, 2013.2
|This article needs additional citations for verification. (February 2008)|
- "History of Industry in Hamilton, Ontario". Retrieved 2009-07-27.
- Reuters (2013-10-29). "U.S. Steel to close Hamilton operations". The Toronto Star. Archived from the original on 2013-10-29. Retrieved 2013-10-29.
- Powell, Naomi (March 4, 2009). "Stelco's Hamilton and Lake Erie plants idled". The Star (Toronto). Retrieved 2009-03-04.
- "Blast Furnace Shut Down Again".
- German buyer firing up two shuttered U.S. Steel mills - TheSpec.com
- Stelco History
- Hamilton Steel
- Photos from the Stelco Steel mill
- Lake Erie Steel
- Hamilton Coke
- Lake Erie Coke
- Hamilton Energy
- Lake Erie Energy
- Hamilton Land
- Lake Erie Land
- HLE Mining
- - Bud Johnston Library
- Stelco timeline to takeover