Bedrock Industries is another step closer to taking over Stelco.
Unionized workers at Lake Erie Works in Nanticoke have announced a tentative agreement with Bedrock, while Hamilton’s local 1005 has what’s called a “framework for agreement.”
The membership for both union locals will see the details of the deal next week.
Lake Erie employees and members of Steelworkers local 8782 will vote on their deal Tuesday and Wednesday, while it’s not clear when members of the union in Hamilton will vote on the package.
Stelco filed for bankruptcy in 2007 and was bought by U.S. Steel. The Hamilton plant hasn’t produced steel since 2011, but the company continues to employ 750 people to operate the coke ovens and cold rolling finishing works. The Nanticoke plant employs 1,400 people.
The bankruptcy court judge has said that collective agreements with the unions need to be in place before he’ll sign off on the take-over plan.
Other key stakeholders already have agreements in place with Bedrock including the creditors and the province. It will be presented in a Toronto court on June 9.
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