U. S. Steel Canada to Sell Bar, Bloom & Billet Mill to Max Aicher North America
HAMILTON, Ontario, April 28 /PRNewswire-FirstCall/ -- U. S. Steel Canada Inc., a wholly owned subsidiary of United States Steel Corporation (NYSE: X), announced today that it has entered into an agreement to sell the No. 1 Bar Mill and the No. 3 Bloom and Billet Mill located at its Hamilton Works to Max Aicher (North America) Inc., a wholly owned subsidiary of Max Aicher GmbH & Co. KG of Germany.
The transaction is subject to the receipt of certain government approvals and other conditions. Terms of the transaction were not released.
The balance of the operations at U. S. Steel Canada Hamilton Works will not be affected by the sale. This transaction allows U. S. Steel Canada to put continued emphasis and focus on our core operations, further strengthening our position as a leading producer of value-added flat-roll products at our facilities in Hamilton and Nanticoke.
Consummation of the sale and the anticipated benefits are both forward-looking statements. The sale is subject to regulatory approvals and other customary conditions. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, cautionary statements identifying important factors, but not necessarily all factors, that could cause actual results to differ materially from those set forth in the forward-looking statements have been included in the Form 10-K of U. S. Steel for the year ended December 31, 2009, and in subsequent filings for U. S. Steel with the United States Securities and Exchange Commission.
For more information about U. S. Steel Canada, visit www.usscanada.ca.
SOURCE U. S. Steel Canada Inc.