Mr. Speaker, unfortunately, U.S. Steel has had to make some difficult business decisions. The 2011 settlement with U.S. Steel contains commitments that provide economic benefit for Canada, particularly for Hamilton and Nanticoke.
Many of the commitments in the settlement with U.S. Steel run to 2015, well beyond the original three-year term of the employment and production undertakings, which expired in October 2010. These commitments include that U.S. Steel must continue to produce steel in Canada, that U.S. Steel must operate at both Hamilton and Lake Erie until 2015, generating continued economic activity. It must also increase its original capital expenditure commitment by 25%, bringing it to $250 million by December 2015.