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August 30, 2015 5:10 PM ET

Metals and Mining

Company Overview of Essar Steel Algoma Inc.

Company Overview

Essar Steel Algoma Inc. manufactures and sells steel sheet and plate products in Canada, the United States, and internationally. It provides rolled and heat treated steel plate products, including grades, rolled, heat treated plates, and floor and armour plates for construction, mining, manufacturing, energy, shipbuilding, and military applications; and hot and cold rolled sheet steels in carbon and HSLA grades for use in manufacturing applications of automotive industry, as well as by-products. The company was founded in 1901 and is headquartered in Sault Ste. Marie, Canada. Essar Steel Algoma Inc. is a subsidiary of Essar Global Limited.

105 West Street

Sault Ste. Marie, ON P6A 7B4

Canada

Founded in 1901

2,939 Employees

Phone:

705-945-2351

Fax:

705-945-2203

Key Executives for Essar Steel Algoma Inc.

Chief Executive Officer and Director
Vice President of Finance
Chief Operating Officer
General Counsel and Corporate Secretary
Director of Investor Relations
Compensation as of Fiscal Year 2015.

Essar Steel Algoma Inc. Key Developments

Essar Steel Algoma Bids For U.S. Steel Canada, Reportedly

Essar Steel Algoma Inc. have put in a bid for U.S. Steel Canada Inc. in its entirety, according to industry sources. The parent of U.S. Steel Canada, United States Steel Corp. (NYSE:X) declined to comment. Essar Steel Algoma does not comment on "rumour or speculation," a company spokeswoman told Metal Bulletin sister publication AMM, although the company confirmed in June that it had signed a non-disclosure agreement related to the bidding process for US Steel Canada.

Essar Steel Algoma Announces CAD 240 Million Modernization and Expansion Programm

Essar Steel Algoma Inc. is embarking on a CAD 240 million modernization and expansion program to make it more competitive and sustainable in a tough global steel market. The investment will support technological and product innovation that will enable Essar Steel Algoma to meet the growing global demand for advanced grades of steel and support growth in related industries like shipbuilding, mining and manufacturing. The modernization and expansion program will include the construction of the No. 2 ladle metallurgy furnace, an upgrade and expansion of the Direct Strip Production Complex the only facility in Canada that converts liquid steel directly into steel coils, and the automation of North Americas only combination plate and strip mill.

Essar Steel Algoma Inc. Announces Earnings Results for the Fourth Quarter and Fiscal Year Ended March 31, 2015

Essar Steel Algoma Inc. announced earnings results for the fourth quarter and fiscal year ended March 31, 2015. For the year, the company reported CAD 194.9 million in EBITDA as compared to an EBITDA loss of CAD 55.2 million a year ago. Income from operations was CAD 76.3 million as compared to a loss of CAD 240.4 million for the same period ended March 31, 2014. Operationally, the business achieved a CAD 12 per ton reduction year over year in conversion costs while maintaining shipment volumes despite an onslaught of imports and recovering demand. The company revenue of CAD 1,984.2 million, up 11.9% over fiscal 2014. Results reflect the impact of level shipment volumes of 2.398 million tons for the year and higher selling prices. For the quarter, the company reported revenue of CAD 444.4 million, up 11.9% 7.1%. Results reflect the impact of level shipment volumes of 2.398 million tons for the year and higher selling prices.

Similar Private Companies By Industry

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Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
April 13, 2015
Lee Steel Corporation
Merger/Acquisition
October 10, 2014
Port of Algoma
Private Placement
September 16, 2014
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