Business
Stelco creditors' meetings adjourned until December 9, 2005
Stelco creditors' meetings adjourned until December 9, 2005.
About this update from Starr Peak Mining Ltd
[{"type":"text","content":"\n\n\n\n\nHAMILTON, ON, Dec. 2 /CNW/ - Stelco Inc. (TSX:STE) announced today that\nthe meetings of its creditors to consider and vote upon a restructuring plan\nhave been adjourned until Friday, December 9, 2005. The Company indicated that\nthe meetings of creditors of its subsidiaries will also be adjourned to the\nsame date.\nOn November 30, 2005 the Company had announced that it was recommending\nto the Court-appointed Monitor that the meetings be adjourned. The Company\nindicated at that time that an adjournment would provide time for the details\nof a restructuring plan to be finalized and Board approval to be sought. This\nmorning the Monitor adjourned the meeting of Stelco's creditors to December 9,\n2005.\nCourtney Pratt, Stelco President and Chief Executive Officer, said, \"The\ntask of finalizing the details of a restructuring plan has been more complex\nand time-consuming than had been envisioned. These adjournments will provide\ntime in which to complete this process. While progress has been slower than we\nhad hoped, we believe the desired end result is well worth the effort.\"\n\nAbout Stelco\nStelco Inc. is a large, diversified steel producer. Stelco is involved in\nmajor segments of the steel industry through its integrated steel business,\nmini-mills, and manufactured products businesses. This news release may\ncontain forward-looking information with respect to the Corporation's business\noperations, financial performance and conditions. Actual results may differ\nfrom expected results for a variety of reasons including factors discussed in\nthe Corporation's Management's Discussion and Analysis section of the\nCorporation's 2004 Annual Report. To learn more about Stelco and its\nbusinesses, please refer to our Web site at www.stelco.ca.\n%SEDAR: 00001549E\n\n\n","length":1849,"tagName":"div"}]