News & Media

Algoma Returns to its Roots

A company with inseparable ties to Sault Ste. Marie and a rich, century old steelmaking tradition is returning to its roots. After a decade known as Essar Steel Algoma, the historic steel manufacturer has launched its new brand: Algoma.

2022-08-15T10:32:48-04:00May 26th, 2017|Press Release|

Essar Steel Algoma Extends Stay of Proceedings and Debtor-in-Possession Financing

Essar Steel Algoma Inc. (“Essar Steel Algoma” or the “Company”) obtained an Order on March 30, 2017 from the Ontario Superior Court of Justice (Commercial List) extending the stay of proceedings under the Companies’ Creditors Arrangement Act (“CCAA”) to April 30, 2017. The lenders under the Company’s existing debtor-in-possession financing facility (the “DIP”) have also consented to an extension of the scheduled maturity of the DIP to April 30, 2017.

2022-08-15T10:32:48-04:00March 31st, 2017|Press Release|

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.

2022-08-15T10:32:49-04:00December 24th, 2004|History|

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.

2022-08-15T10:32:49-04:00October 28th, 1995|History|

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.

2022-08-15T10:32:50-04:00January 24th, 1992|History|
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