Business
Stelco obtains extension of stay period until July 8, 2005
Stelco obtains extension of stay period until July 8, 2005.
About this update from Starr Peak Mining Ltd
[{"type":"text","content":"\n\n\n\n\nHAMILTON, ON, April 26 /CNW/ - Stelco Inc. (TSX:STE) today applied for\nand was granted an Order of the Superior Court of Justice (Ontario) extending\nthe stay period under its Court-supervised restructuring from April 29, 2005\nuntil July 8, 2005.\nCiting the Court-appointed Monitor's grounds for supporting the\nextension, Courtney Pratt, Stelco's President and Chief Executive Officer,\nsaid, \"This extension is in the interests of all stakeholders. It will\nmaintain operational and financial stability while we continue discussions\nwith stakeholders, pursue the capital raising process, complete the claims\nprocedure and develop a restructuring plan.\"\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":1419,"tagName":"div"}]