In response to the threatened loss of thousands of jobs in a region with poor economic prospects, the government of Nova Scotia purchased the steel mill, renaming it the "Sydney Steel Corporation" (SYSCO).
In response to the threatened loss of thousands of jobs in a region having already poor employment prospects, the provincial and federal governments coordinated a plan to nationalize the operation. The government of Nova Scotia agreed to take over the operation of the steel mill, which it renamed "Sydney Steel Corporation" (SYSCO).