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Hamilton steelworkers union says tentative deal reached with U.S. Steel Canada

HAMILTON – A United Steelworkers union local in Hamilton says it has reached a tentative agreement with U.S. Steel Canada.

Local 1005 USW says the proposed deal will be voted on by its members next Wednesday.

It says no information will be released until after the vote.

The agreement comes a week after a judge approved U.S. Steel’s plan to finance its Canadian operations while it attempts to reach a court-supervised compromise with its creditors.

That arrangement will see the steelmaker’s American parent provide a $185-million “debtor-in-possession” loan to keep its Canadian arm running through next year.

U.S. Steel Canada, with operations at Lake Erie Works and Hamilton Works, employs about 2,000 people and has thousands of retired employees.

(CHML, The Canadian Press)