Stelco Seeks Acquisitions to Broaden Appeal of Top Canadian Steelmaker
- Kestenbaum’s comments mark shift in strategy of steelmaker
- CEO says Nippon-US Steel deal shows market values steel assets
Stelco Holdings Inc. is seeking fresh opportunities to expand through acquisitions while boosting shareholder returns to make Canada’s largest steelmaker more appealing to investors and — eventually — to potential buyers.
Chief Executive Officer Alan Kestenbaum said the company learned from Nippon Steel Corp.’s deal to buy US Steel that having good steelmaking assets is attractive to overseas buyers. He intends to make targeted acquisitions to grow the company he helped take over in 2017.