Thanks to the vision of Algoma’s founding father Francis Clergue, February marked the start of construction of the new iron and steel plant, named the Algoma Iron, Nickel and Steel Company. It took almost a year to the day to complete construction. It was an exciting, albeit modest beginning for Algoma: with two small blast furnaces, a 600 ton Bessemer furnace, a 23- inch bloom rolling mill and rail mill.
First Steel is Cast
The steelmaking process (Bessemer) went into operation, producing the liquid steel that would be cast into ingots and rolled into the very rails that would ultimately unite the nation from coast to coast.
No. 1 Blast Furnace is Commissioned
This marked the largest charcoal blast furnace ever built and operated. In its first year, it established a world production record of 173 tons of pig iron in a 24 hour period. By March, Algoma’s No. 2 Blast Furnace was commissioned.
Algoma Undergoes a Major Expansion
Algoma’s No. 3 blast furnace with a capacity of 450 tons per day was constructed along with a modern gas engine plant, three additional open-hearth furnaces, new docks and several merchant mills were constructed to increase Algoma’s product lines. By 1912, The Algoma Steel Corporation was formed.
The effect of the Great Depression hits Sault Ste. Marie and ultimately forces the Company into receivership.
Algoma embarks on a major expansion program
The Company had been working with General Motors since 1949 on a complimentary agreement that met the needs of both companies. In May 1951, this relationship grew into a long-term agreement under which General Motors loaned Algoma Steel $15 million for plant expansion and agreed to purchase steel from Algoma through to 1967. The expansion program included a new combination bar and strip mill which moved Algoma into the flat rolled steel market.
No. 6 Blast Furnace is Commissioned
On July 20th, Algoma’s No. 6 blast furnace was put on blast to replace No. 1 furnace. Expansion continued throughout the steelworks including the construction of Algoma’s first Cold Mill in 1954.
No. 7 Blast Furnace is Commissioned
Algoma’s No. 7 blast furnace goes into operation. The 315 foot high furnace was designed to produce 5,000 tons of iron per day, replacing No. 3 and No. 4 blast furnaces.
A New Algoma is Born
Algoma underwent restructuring as a result of the severe economic storm that affected the North American steel industry in the 80's and 90’s. The new Algoma was born with the signing of a Joint Restructuring Process Agreement in April of 1992.
DSPC Construction Begins
October 28, 1995 marked a proud moment in Algoma's history as construction commenced on Algoma's Direct Strip Production Complex (DSPC). Today the complex is Algoma's cornerstone asset, positioning Algoma as one of the leaders in the North American hot rolled sheet market.
Algoma Embarks on a New Course of Action
The market dropped again at the close of decade and in 2002 Algoma emerged from its second restructuring and embarked on a course of action that would lead to Algoma's most profitable year on record in 2004.
Most Profitable Year on Record
With a net income of $343.8 million, Algoma's share price rose 416% making Algoma's stock one of the leading performers on the TSX. Algoma had established a solid foundation, and in 2005 the Company turned its attention to building a future in the global marketplace.
Algoma Joins Essar Global
In June, Algoma was acquired by Essar Steel Holdings Ltd., a division of the multi-national conglomerate, Essar Global.
Algoma Returns to its Roots
After nearly a decade as Essar Steel Algoma, the company returns to its roots with a fresh take on the Algoma brand.
Algoma Steel Inc. Emerges
Algoma Steel Inc. emerges from restructuring with the sale of substantially all of the Company’s assets, resulting in new ownership for the Company under the direction of a professional board of directors - alongside a commitment of a CDN $300 million investment in the modernization of the facilities in Sault Ste. Marie.