Steam billows from a stack at the U.S. Steel Canada plant in Hamilton in this file photo taken March 4, 2009.MIKE CASSESE/Reuters
The name Stelco is being revived as U.S. Steel Canada Inc. approaches agreements with stakeholders that should lead to its exit from protection under the Companies' Creditors Arrangement Act. The steel maker will announce Friday that it is changing its name back to Stelco.
United States Steel Corp., which bought Stelco Inc. in 2007, cut its Canadian unit loose last year, about a year after U.S. Steel Canada was granted CCAA protection. Stelco is also expected to announce it will hire some new employees who will fill jobs that were shifted to Pittsburgh-based U.S. Steel after the 2007 takeover.