Mittal Canada Inc., a Canadian subsidiary of Mittal Steel Company N.V., has signed a letter of intent with Stelco Inc. of Ontario concerning the acquisition of Norambar Inc., Stelfil Ltée and Stelwire Ltd.
The Norambar and Stelfil are located in Québec, while the Stelwire facility is located in Ontario.
Richard Leblanc, president and CEO of Mittal Canada Inc., said, "We are delighted to have signed this Letter of Intent with Stelco. The integration of these subsidiaries into the Mittal Steel Group should be beneficial to their long-term viability and competitiveness as well as to their respective employees and communities."
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