U.S. Steel Canada gets protection extended again

[projekktor id=’18875′]

(Updated) U.S. Steel Canada has been granted an another extension to its creditor protection until September 11th.

This comes as the latest numbers from the company show the Hamilton plant dragging down its finances. A court-appointed monitor says the Hamilton operation lost $104 million between September and the end of March, compared to profits of $47 million at the Lake Erie works in Nanticoke.

The company is using the creditor protection extension to restructure and find potential buyers. It has long been speculated that the company’s American parent wants to dump the Hamilton plant while keeping Nanticoke.