The Stel Salaried Pensioners Organization wishes to thank The Hamilton Spectator for permission to post the following article by Naomi Powell, published in the November 1, 2007 edition
New man of steel
U.S. Steel Canada CEO has already taken over in Hamilton
The Hamilton Spectator
(Nov 1, 2007)
U.S. Steel has appointed a top executive
from its Serbian operations to lead Stelco -- now called U.S. Steel Canada.
Douglas R. Matthews replaces Rodney Mott,
the man who led Stelco out of bankruptcy protection and through its eventual
sale to Pittsburgh's U.S. Steel. Matthews, 42, was already installed in the
former Stelco's head office when that sale was finalized yesterday.
"I'm eager to be here, my family's
looking forward to coming here and we're looking forward to the challenges and
ongoing success of these facilities," he said.
Matthews, who was vice-president and general
director of U.S. Steel Serbia, said he did not expect either the spike in the
Canadian dollar or U.S. Steel's most recent earnings report to affect its new
Canadian operations.
U.S. Steel's third-quarter profit fell about
35 per cent with results hurt by lower prices and shipments and costs related
to raw materials and the Stelco purchase, the company said Tuesday.
"We believe the outlook for the North
American steel industry is good with slower but steady growth and our Canadian
and U.S. operations will benefit from the synergies between the
facilities," Matthews said.
A Pennsylvania native, Matthews began his
career with U.S. Steel in 1988. He has worked in various management positions
at the steel giant's Indiana, Ohio and Pittsburgh operations.
The father of two hopes to be joined in the
next month by his wife and children, who are still located in the Serbian
capital of Belgrade.
Matthews says he has no plans to cut the
former Stelco's workforce, which was dramatically reduced to about 3,600
workers over the last year through buyouts and attrition.
His plans are to run the company at current
levels, producing 4.5 to 5 million tons per year. The company's Hamilton
operations will produce steel slabs to be finished at U.S. Steel's Great Lakes
operation in Detroit and its Granite City operation in Southern Illinois.
The company is currently evaluating whether
to move those slabs by rail or by barge out of Hamilton Harbour.
U.S. Steel has said it will invest about
$100 million in plant operations. Matthews said no decisions have been made
about how to spend that money.
Matthews is joined by William Harrison,
appointed vice-president and chief financial officer. Scott Buckiso will manage
the Lake Erie Works plant and Bryan Vaughn has been named plant manager at
Hamilton Works.
"The leadership team that will oversee
U.S. Steel Canada is composed of individuals with strong, diverse backgrounds
acquired during years of service at U.S. Steel facilities in the United States
and Central Europe," U.S. Steel CEO John Surma said in a release.
npowell@thespec.com
905-526-4620