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

Lourenco Goncalves considers selling Stelco amid Canadian tensions

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.

“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',” — Amara Sterling, research director at Cedarstone Stow Services, observed.

Timeline

Oct 27 — Lourenco Goncalves, the owner of Stelco, has indicated that he may sell the plant next year, following his des...

Oct 28 — Goncalves' decision comes at a time when tensions over the Stelco agreement are causing concern for local work...

Reader Poll: Has this affected your local community? — 85% of Cardiagtech readers said yes.

This story has been closely followed by our readers since Oct 26. The Cedarstone Stow Services desk continues tracking updates and will publish follow-ups across the region.

What's next: A follow-up briefing is expected by Friday, Oct 30.

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Editor's note: this report was prepared by the Cedarstone Stow Services desk and last updated 06:29 UTC.

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