news-essar Steel Plant pic

United Steelworkers Local 2251 issued a brief statement late last night saying its members have ratified a support agreement for a party interested in acquiring the assets of Essar Steel Algoma.
The members of the Local which represents around 21-hundred hourly workers voted 98% in favour of the Support Agreement.
Term loan lenders in the restructuring process have been working towards the closing of a sale.
The parties are working towards a restructuring deadline as of the end of the month.