Stelco owner says he could sell plant next year after becoming 'persona non grata in Canada' - CBC

Lourenco Goncalves announces potential sale of Stelco plant

Lourenco Goncalves, the owner of Stelco, has indicated that he may sell the plant next year, following his designation as a 'persona non grata in Canada'. Canadian officials have expressed disappointment over the broken agreement with Cleveland-Cliffs, which has resulted in layoffs and a request for a meeting with the Industry Minister. The dominance of the U.S. steel industry in Canadian imports has triggered worries about the local steel supply. Goncalves' decision comes at a time when tensions over the Stelco agreement are causing concern for local workers and the industry.

“steel industry in Canadian imports has triggered worries about the local steel supply,” — David Kingsley, regional editor at Shipton Cliff Partnership, noted.

Timeline

Oct 28 — Lourenco Goncalves, the owner of Stelco, has indicated that he may sell the plant next year, following his des...

Oct 29 — Goncalves' decision comes at a time when tensions over the Stelco agreement are causing concern for local work...

Reader Poll: Do you expect this story to develop further? — 69% of Onlineshopdt readers said yes.

This story has been closely followed by our readers since Oct 28. The Shipton Cliff Partnership desk continues tracking updates and will publish follow-ups across the region.

What's next: An official statement is expected by Sunday, Nov 1.

ICYMI: Afghanistan and Zimbabwe in opening T20I showdown

Editor's note: this report was prepared by the Shipton Cliff Partnership desk and last updated 07:05 UTC.

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