The chief executive at Stelco sees the Hamilton-based steel company as the centrepiece in what could become a large empire of companies. And Stelco CEO Alan Kestenbaum said he sees Hamilton as the place to headquarter that empire. The first time the Florida-based Kestenbaum visited Hamilton when his Bedrock Industries fund was kicking the steelmaker's tires, he at first saw only steel mills. He said it's to be able to strike when a good deal on a potential acquisition comes open. Indeed, Bedrock bought the company after the union representing Hamilton workers and retirees agreed to concessions, losing some of the pension security they counted on in exchange for some money put toward retiree benefits.

Source: CBC News November 10, 2017 21:22 UTC