Black Friday in Cape Breton — Hawker Siddeley announced the closing of the Sydney steel plant by April 30, 1968. The plant had been purchased from DOSCO in August 1957 and employed 5,700 workers. But declining markets, and lack of further capital investment for refurbishing, led to a reduction in the workforce to 3,200 by 1967. And though there was hope for a recommended expansion of the plant, the company ultimately changed its mind and announced its closure. By November 22, with an Act of the Legislature, the Nova Scotia government created Sydney Steel Corporation (SYSCO) to operate the plant, which later closed in 2001. The plant left a hazardous waste site, known as the Sydney Tar Ponds — which caused one of the most complex environmental cleanup operations ever undertaken in Canada, costing over $400 million dollars. (Photo: The Sydney Steel Plant Blast Furnace, 1966. Beaton Institute.)