TORONTO, May 6 /CNW/ - The United Steelworkers (USW) union welcomes
today's announcement from Industry Minister Tony Clement that he will hold US
Steel to the investment, research and production commitments it made to Canada
in taking over Stelco.
On March 25, Ken Neumann, USW's Canadian National Director, sent a letter
to Clement requesting that he take this action.
"In sending a demand letter to US Steel, Clement has taken the first step
toward enforcing the company's commitments under the Investment Canada Act,"
said Neumann. "He must also be prepared to take US Steel to court under the
Act if it does not comply with the demand letter."
USW is also calling on Clement to disclose the details of US Steel's
commitments in gaining federal approval to take over Stelco. "In future,
reviews of proposed foreign takeovers should be more transparent and include a
full opportunity for working people to participate in the process. We believe
there should be a parliamentary review of Canada's rules on foreign investment
and how they are implemented and enforced," added Neumann.
For further information:
For further information: Bob Gallagher, (416) 544-5966, (416) 434-2221,