Former workers suspicious of U.S. Steel

Hamilton’s newly revived steel committee had its first meeting since 2010 today. The meeting came on the heels of last week’s announcement that U.S. Steel will permanently close its iron and steel making operations in the city by the end of the year.

At the meeting today, Hamilton councillors were joined by mayor Bob Bratina to discuss jobs and pensions, and what’s next for the future of the city’s steel industry. One lingering question is whether the company will abide by its obligation to pay the pensions of some 8,000 retirees.

The court agreement that was put in place when U.S. Steel took over had in place some agreements that allowed pension breaks. Retired worker Paul Lane is suspicious of the company’s commitment.

“That agreement is coming due in 2015. We’re suspicious that US Steel is going to go insolvent in 2015 and use CCAA to get out of their pension liability.”

The closure affects 47 non-union jobs, and means the once-thriving U.S. Steel blast furnace will not be revived.