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.