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Essar gets deadline reprieve

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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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