Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
Essar Steel Algoma Granted Temporary Pension Relief

SAULT STE. MARIE, ON, Jan. 11, 2013 /PRNewswire/ - Essar Steel Algoma Inc. announced today the Ontario Government has granted the Company temporary pension relief in the form of a twelve month deferral of special pension payments effective December 2012 through to November 2013.  The Company will continue to pay ongoing pension service costs for its defined benefit pension plans.

Historically low interest rates have led many of Ontario's defined-benefit pension plans, both public and private, to seek temporary relief measures. As a result of such low rates, Essar Steel Algoma's pension contribution requirements were more than double those made in previous years.  This combined with a decline in steel prices, increased borrowing costs in the wake of the Ontario Court of Appeal decision in Re Indalex, and one-time operational issues led Essar to seek temporary relief to address near-term liquidity needs.

Essar Steel Algoma CEO Kalyan Ghosh commented, "This temporary relief, in combination with continued cost-cutting, operational improvements, improving industry fundamentals and lower raw material costs will enable Essar Steel Algoma to manage its liquidity through this difficult cycle.  In the coming months Essar will meet with its unions, pensioners and other pension stakeholders to explore a medium-term pension funding strategy."

Essar Steel Algoma greatly appreciates the work of David Orazietti, MPP who ensured the success of this important relief measure.  He worked tirelessly with the Ontario Government to secure this vital relief during challenging financial times. This temporary assistance provides the time and financial capacity necessary for Essar to put in place a more comprehensive plan to satisfy its pension obligations for the long-term.

More about Essar Steel Algoma Inc.

A member of the Essar Group, Essar Steel Algoma Inc. is based in Sault Ste. Marie, Ontario.  As a fully integrated steel producer, the Company derives its revenues primarily from the manufacture and sale of hot and cold rolled steel products including sheet and plate.

SOURCE Essar Steel Algoma Inc.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Cloud Developer Stories
"We help companies that are using a lot of Software as a Service. We help companies manage and gain visibility into what people are using inside the company and decide to secure them or use standards to lock down or to embrace the adoption of SaaS inside the company," explained S...
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and proce...
Some developers believe that monitoring is a function of the operations team. Some operations teams firmly believe that monitoring the systems they maintain is sufficient to run the business successfully. Most of them are wrong. The complexity of today's applications have gone fa...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide c...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE