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News
Algoma Steel says beam mill plan remains real, despite submarine contract setback
1+ mon, 1+ week ago (592+ words) Algoma Steel CEO Rajat Marwah said the Sault Ste. Marie sheet and plate producer will continue to be a competitive player in pursuing Canadian defence contracts. And management insists it hasn’t given up on developing a new steel beam mill....
Algoma Steel posts $92 million loss in 2Q as revenue, shipments decline
1+ mon, 1+ week ago (530+ words) Algoma Steel’s ledger is still smeared with red ink, but the Sault Ste. Marie steel producer is boasting of record plate sales for two consecutive quarters. The 125-year-old Northern Ontario sheet and plate manufacturer posted a net loss of $92 million…...
Algoma Steel announces $96-million second-quarter loss
1+ mon, 2+ week ago (310+ words) Hogtied by crippling U.S. tariffs, Algoma Steel Group Inc. today posted a net loss of $96 million during the three-month period that ended June 30. That was nonetheless down from a net loss of $110.6 million in the same quarter last year. "While the…...
After billion-dollar loss, Algoma Steel brass still score big bonuses
2+ mon, 3+ week ago (939+ words) Algoma Steel lost just short of a billion dollars last year. Most of us have difficulty comprehending numbers bigger than our mortgage, but if you make $45,000 a year, it would take you more than 22,000 years to make $1 billion. Despite that…...