Canada moves to block steel dumping with 25% surtax on select products

Canada moves to block steel dumping with 25% surtax on select products
The Canadian government says it will impose a 25 per cent surtax on some foreign steel products in a bid to head off dumping. The Finance Department said “excessive imports” are harming the steel industry, prompting it to impose a surtax on seven products that range from rebar to wire rods. The surtax, which begins Oct. 25, will be in place for 200... Read More

GFL Environmental buying U.S. company Waste Industries in deal valued at $3.65B

GFL Environmental buying U.S. company Waste Industries in deal valued at $3.65B
Toronto-based GFL Environmental Inc. has signed a deal to buy Waste Industries in an agreement that values the U.S. company at about $3.65 billion. The deal will more than double GFL’s footprint in the United States. Waste Industries provides non-hazardous solid waste collection, transfer, recycling and disposal services in the southeastern United States. It has more than 2,850 employees and... Read More

Catalyst Paper agrees to sell Canadian, French mills to Paper Excellence

Catalyst Paper agrees to sell Canadian, French mills to Paper Excellence
VICTORIA — British Columbia-based Catalyst Paper Corp. has reached an agreement to sell its operations to Paper Excellence Canada of Richmond, B.C. Catalyst CEO Ned Dwyer says when the transaction is complete it will benefit customers, employees, suppliers, communities where it operates and B.C.’s pulp, paper and forest products industries. Details of the transaction have not been released, but it will... Read More

Mercer International buying Canadian kraft pulp mills for $465 million

Mercer International buying Canadian kraft pulp mills for $465 million
TORONTO — Mercer International Inc. has signed a deal to acquire Daishowa-Marubeni International Ltd., which owns a bleached kraft pulp mill in Peace River, Alta., and a 50 per cent stake in a joint venture which operates a bleached kraft pulp mill in Quesnel, B.C. Under the agreement with Marubeni Corp., Nippon Paper Industries Co. Ltd., and Daishowa North America... Read More

Resolute to sell South Carolina pulp and paper mill for $385 million

Resolute to sell South Carolina pulp and paper mill for $385 million
MONTREAL — Resolute Forest Products Inc. says it has reached a deal to sell a pulp and paper mill in South Carolina for about $385 million to New-Indy Containerboard LLC. The price for the Catawba, S.C. mill includes about C$333.5 million (US$260 million) in cash plus assumption by the buyer of about $51.5 million of largely pension-based liabilities. Resolute says the sale... Read More

Auto sales down 7.4 per cent in September for largest drop since 2009

Auto sales down 7.4 per cent in September for largest drop since 2009
TORONTO — DesRosiers Automotive Consultants says new light vehicle sales were down by 7.4 per cent in September compared with the same month last year for the largest monthly drop since 2009. Sales were down by close to 14,000 units to total about 173,000 passenger cars and light trucks sold in September, making it the lowest sales figure for the month since 2014. DesRosiers... Read More

Manufacturers relieved, dairy farmers angry in wake of NAFTA replacement deal

Manufacturers relieved, dairy farmers angry in wake of NAFTA replacement deal
Reaction from Canadian business groups to the terms of a renegotiated trade pact between Canada, the U.S. and Mexico range from relief to dismay as the details of the proposed new pact begin to sink in. The deal, which U.S. President Donald Trump said he plans to call the United States Mexico Canada Agreement (USMCA), was reached late Sunday night amid 11th-hour... Read More

Daimler CEO Zetsche to step down early, succeeded by insider

Daimler CEO Zetsche to step down early, succeeded by insider
FRANKFURT — Daimler CEO Dieter Zetsche, who unwound a troubled merger with Chrysler Corporation and led the German automaker to a string of record profits, will hand off next year to Ola Kallenius, a longtime insider who heads vehicle development for the Mercedes-Benz brand. The Stuttgart-based company said Wednesday that the change will take place in May and that Zetsche,... Read More

ADF Group Inc. announces the award of two new major contracts in the United States totalling $102 million

ADF Group Inc. announces the award of two new major contracts in the United States totalling $102 million
TERREBONNE – ADF GROUP INC. (TSX: DRX), a North American leader in the fabrication of steel superstructures, announces the award of two new major contracts in the United States, worth a total of $102 million. The first contract has been awarded in Western U.S. and consists in the design and engineering of connections, fabrication, including the procurement of raw material (steel) and industrial coating,... Read More