DSPC

Algoma Steel Announces Final Results of Substantial Issuer Bid

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Tuesday, August 2, 2022
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MARIE, Ontario, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ, TSX: ASTL) (Algoma or the Corporation) today announced the final results of its substantial issuer bid (the Offer) under which it has purchased for cancellation 41,025,641 of its common shares (Shares) at a purchase price of US$9.75 per Share, for an aggregate purchase price of approximately US$400 million.

Key Points: 
  • MARIE, Ontario, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ, TSX: ASTL) (Algoma or the Corporation) today announced the final results of its substantial issuer bid (the Offer) under which it has purchased for cancellation 41,025,641 of its common shares (Shares) at a purchase price of US$9.75 per Share, for an aggregate purchase price of approximately US$400 million.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.
  • Our customer focus, growing capability and courage to meet the industrys challenges head-on position us firmly as your partner in steel.

Algoma Steel Announces 15 Day Extension

Retrieved on: 
Sunday, July 31, 2022
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MARIE, Ontario, July 30, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) announced today that the Company and the Negotiating Committee of United Steelworkers Local Union 2251 (2251), the union representing Algomas hourly employees, have agreed to a fifteen (15) day extension beyond the July 31, 2022 expiry of the collective agreement for the purpose of continued discussions.

Key Points: 
  • MARIE, Ontario, July 30, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) announced today that the Company and the Negotiating Committee of United Steelworkers Local Union 2251 (2251), the union representing Algomas hourly employees, have agreed to a fifteen (15) day extension beyond the July 31, 2022 expiry of the collective agreement for the purpose of continued discussions.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.
  • Our customer focus, growing capability and courage to meet the industrys challenges head-on, position us firmly as your partner in steel.

Algoma Steel Outlines Best and Final Offer in Collective Agreement Negotiations with USW Local 2251

Retrieved on: 
Saturday, July 30, 2022
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SAULT STE. MARIE, Ontario, July 29, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Company”) announced today that the Company has submitted its best and final Collective Bargaining Agreement (“CBA”) offer to the Negotiating Committee of United Steelworkers Local Union 2251 (“2251”), the union representing Algoma’s hourly employees.

Key Points: 
  • MARIE, Ontario, July 29, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) announced today that the Company has submitted its best and final Collective Bargaining Agreement (CBA) offer to the Negotiating Committee of United Steelworkers Local Union 2251 (2251), the union representing Algomas hourly employees.
  • Algoma has also received notice that the 2251 Negotiating Committee has refused the offer and is unwilling to bring the offer to employee members for a vote.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Our customer focus, growing capability and courage to meet the industrys challenges head-on, position us firmly as your partner in steel.

Algoma Steel Announces Preliminary Results of Substantial Issuer Bid

Retrieved on: 
Thursday, July 28, 2022
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MARIE, Ontario, July 28, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ, TSX: ASTL) (Algoma or the Corporation) today announced the preliminary results of its substantial issuer bid (the Offer), which expired at 5:00 p.m. (Eastern Time) on July 27, 2022.

Key Points: 
  • MARIE, Ontario, July 28, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ, TSX: ASTL) (Algoma or the Corporation) today announced the preliminary results of its substantial issuer bid (the Offer), which expired at 5:00 p.m. (Eastern Time) on July 27, 2022.
  • Immediately following completion of the Offer, Algoma anticipates that 105,403,930 Shares will be issued and outstanding.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.

Algoma Steel Notified by USW Local 2724 Agreement Ratified

Retrieved on: 
Tuesday, July 26, 2022
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MARIE, Ontario, July 26, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) reports it has been notified by United Steelworkers (USW) Local 2724, the union representing its technical, professional and front-line supervisory employees, that their members have successfully ratified their collective agreement, providing an enhanced economic package for their members and importantly setting out the process to transition the workforce to electric arc steelmaking.

Key Points: 
  • MARIE, Ontario, July 26, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) reports it has been notified by United Steelworkers (USW) Local 2724, the union representing its technical, professional and front-line supervisory employees, that their members have successfully ratified their collective agreement, providing an enhanced economic package for their members and importantly setting out the process to transition the workforce to electric arc steelmaking.
  • Discussions are ongoing between the Company and the hourly employees represented by USW Local 2251, and the Companycontinues to work toward reaching an agreement before the contract expires on July 31, 2022.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.

Algoma Steel to Announce Fiscal 2023 First Quarter Results August 3, 2022

Retrieved on: 
Tuesday, July 26, 2022
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MARIE, Ontario, July 26, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2023 first quarter financial results after the market closes on Wednesday, August 3, 2022.

Key Points: 
  • MARIE, Ontario, July 26, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2023 first quarter financial results after the market closes on Wednesday, August 3, 2022.
  • Upon dialing in, please request to join the Algoma Steel Fiscal First Quarter Conference Call.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.

Algoma Steel Reaches Tentative Agreement with USW Local 2724

Retrieved on: 
Wednesday, July 20, 2022
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MARIE, Ontario, July 20, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) announced today that the Company has reached a tentative agreement for a new labour contract with United Steelworkers (USW) Local 2724, the union representing its technical, professional and front-linesupervisory employees.

Key Points: 
  • MARIE, Ontario, July 20, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) announced today that the Company has reached a tentative agreement for a new labour contract with United Steelworkers (USW) Local 2724, the union representing its technical, professional and front-linesupervisory employees.
  • The Company will not be releasing details of the tentative agreement until after the Union has held its information meetings.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.

Algoma Steel Donates $1 Million toward Sault Area Hospital Residential Withdrawal Management Facility

Retrieved on: 
Tuesday, July 19, 2022
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MARIE, Ontario, July 19, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced its donation of CDN $1 million to Sault Area Hospital Foundation (SAHF), in support of Sault Area Hospitals (SAH) Residential Withdrawal Management Facility.

Key Points: 
  • MARIE, Ontario, July 19, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced its donation of CDN $1 million to Sault Area Hospital Foundation (SAHF), in support of Sault Area Hospitals (SAH) Residential Withdrawal Management Facility.
  • The new facility will provide twenty residential withdrawal management beds and safe beds in a completely renovated space.
  • Our team at Algoma is proud to support the Sault Area Hospital in their construction of a Residential Withdrawal Management Facility.
  • On behalf of the Sault Area Hospital, our patients, and our health care workers, I extend our sincere gratitude and appreciation to Algoma Steel for their generous donation of $1 million to support and enhance care for individuals accessing care at our new Residential Withdrawal Management facility, said Ila Watson, President & CEO, of Sault Area Hospital.

Algoma Steel Group Announces OSC Relief in Substantial Issuer Bid

Retrieved on: 
Monday, July 18, 2022
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MARIE, Ontario, July 18, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) announced today that the Ontario Securities Commission (the OSC) has granted an exemptive relief order (the Relief Order) exempting Algoma from complying with the requirement that Algoma first takes up all of its common shares (the Shares) deposited under its currently underway substantial issuer bid (the Offer) before extending the expiration date of the Offer, if Algoma ultimately determines to extend the Offer in the circumstance where the Offer is undersubscribed.

Key Points: 
  • MARIE, Ontario, July 18, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) announced today that the Ontario Securities Commission (the OSC) has granted an exemptive relief order (the Relief Order) exempting Algoma from complying with the requirement that Algoma first takes up all of its common shares (the Shares) deposited under its currently underway substantial issuer bid (the Offer) before extending the expiration date of the Offer, if Algoma ultimately determines to extend the Offer in the circumstance where the Offer is undersubscribed.
  • On July 15, 2022, the OSC granted Algoma the Relief Order providing the Extension Relief which will allow Algoma to, subject to the conditions in the Relief Order, elect to extend the Offer without first taking up all the Shares deposited and not withdrawn under the Offer.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.

Algoma Steel Distributes Over $150 Million in Employee Profit Sharing Program

Retrieved on: 
Thursday, June 23, 2022
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MARIE, Ontario, June 23, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced fiscal 2022 returned $150.7 million in total profit share payouts for eligible employees.

Key Points: 
  • MARIE, Ontario, June 23, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced fiscal 2022 returned $150.7 million in total profit share payouts for eligible employees.
  • With the second installment scheduled for release on June 24th, fiscal 2022s profit share represents the highest payments per employee in the Companys history.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.