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Essar gets deadline reprieve

Essar Steel in Sault Ste. Marie has been given an extra month to complete its restructuring.  The steelmaker was the have finished the process in August but a judge has extended the deadline to mid-September.  Essar went into restructuring mode at a time when it owes more than $40-million to about 120 businesses in the Sault.  The figure includes $14-million in back taxes to the city.  Steel dumping and historically low steel prices are two major reasons why Essar is restructuring.

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