Ontario government acts to resolve Stelco talks impasse

New York, May 13 - The government of Ontario intervened to help restart discussions between Stelco Inc. and the United Steelworkers of America.

Labor minister Chris Bentley said the government would help find a neutral third party.

"Discussions facilitated by a neutral party are often useful in bringing a fresh perspective and helping those involved sort out their differences through negotiated compromises or by suggesting new solutions or ideas," Bentley said in a news release.

Stelco said it was open to the process if meaningful discussions resulted.

"As all of our stakeholders know, the success of this process rests on all of their participation and a willingness of all to contribute. Without that, this company will not be positioned for survival," said president and chief executive officer Courtney Pratt in a news release.

"The terms of reference for any such third party will be extremely important. We must remember that this process must ultimately include not only the company and its unions, but the many other stakeholders who have a role to play in the restructuring process and a vote in shaping the outcome."

The Hamilton, Ont.-based steelmaker filed for bankruptcy protection under the Companies Creditors Arrangement Act on Jan. 29, 2004.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.