Stelco Awarded CA$50 Million From Canadian Government to Upgrade Plants
08/19/2019 - The investment is part of a project to modernize Stelco’s Hamilton and Lake Erie Works. The upgrades will include a new recycling facility and will bring about the creation of 75 new jobs.
Stelco chief executive officer David Cheney said the investment is geared toward “technology to make some next-generation steels, including some steels that aren't currently made in North America."
The investment announcement comes a day after Stelco released its second-quarter financial results, in which it reported a net income of CA$1 million.
Global News has more on this story here.
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