OTTAWA (Reuters) - The Canadian government is disregarding its own guidelines on foreign investment, U.S. Steel Corp charged on Friday as it promised to contest Ottawa’s complaints over cutbacks at its Stelco subsidiary.
The company was reacting to an announcement by Industry Minister Tony Clement that he was taking U.S. Steel to court for what he said was a lack of compliance in meeting commitments it had made when it took over Stelco.
“We are disappointed that the minister has apparently decided to pursue the matter in the courts while ignoring our numerous requests to meet with him on these issues, and while disregarding the ministry’s own guidelines with respect to foreign investment. Nevertheless, we will vigorously defend our record at U.S. Steel Canada in the appropriate forum,” U.S. Steel’s general counsel, James Garraux, said in a statement.
Reporting by Randall Palmer; editing by Rob Wilson