http://www.saultstar.com/2017/04/19/sheehan-talks-steel-to-chamber-members

 

Support and assistance with Canada's steel industry has signaled to investors that government is behind steel and has helped Essar Steel Algoma in their restructuring process, said Sault MP Terry Sheehan.

Sheehan was the Chamber of Commerce guest speaker Wednesday at their breakfast meeting.

He was quizzed on the importance of steel to the Liberal federal government and what the government is doing to help the industry and communities like Sault Ste. Marie.

Sheehan said that Prime Minister Justin Trudeau has been on top of the steel file since both were elected over a year ago – just weeks prior to Essar Steel Algoma filing for bankruptcy protection under the Companies' Creditors Arrangement Act.

“The first time we met at a national caucus I brought up the steel issue,” Sheehan told Chamber members.

He said it was shortly afterwards that the Minister of Finance Bill Morneau got involved.

The common theme at the meetings with various stakeholders was the steel dumping issue, Sheehan said.

“The trade system in place for decades didn't work. We needed to modernize it . . . and it's now in black and white,” he said.

Sheehan said he's cognizant that environmental requirements in Canada cost steel producers more – but the carbon footprint that is 10 times less than the steel produced in China, makes it one of the best in the world, he boasts.

The federal government's announcement that sees the approval of pipelines to the western provinces has also resulted in more jobs and stability in the industry, he said.

Tenaris Tubes, which just a year ago had curbed local operations now has 425 people working in the Sault Ste. Marie plant, he said.

Infrastructure program money will also boost the need for more steel and being cognizant of the anti circumvention issue with steel – importing small valued added steel parts – is also on the radar and will be handled through the trade remedy process, he said.

Sheehan said he'll be part of an industry committee travelling to Washington in early May to talk to officials there about the importance of trade partnerships between the two companies.

With 50 per cent of Canadian steel exported, the United States counts on about nine million jobs related to that export, he said.

“We also need to look at the new markets for all products to diversify our trade opportunities,” he said.

But while steel is important, the federal government is also creating opportunities and resources in other areas, including educational and training opportunities, strategic innovation, clean tech industry and a new Northern Ontario Growth and Prosperity Strategy, he said.

Sheehan was also asked about concerns businesses are having with FedNor and lining up FedNor applications with their provincial counterpart, the Northern Ontario Heritage Fund Corp.

Sheehan said he is aware that FedNor needs improvement and the process of rebuilding has begun.

More money has topped up the economic development fund and there is an understanding that quicker responses are needed in the application process.

Looking ahead, Sheehan said he sees a government opportunity to support a solid business case for the Port of Algoma in the future.

He also expects opportunities ahead for the Sault and the region with the development of the Ring of Fire.

“We don't take our foot off the pedal or wait for commodity prices to come around,” he said. “We are hopeful and keep moving forward.”

While interest in the project by the private sector has wained with the drop in commodity prices, Sheehan said there is still much work ahead to complete, including helping First Nation communities with the many issues they face in the remote parts of the North.