Algoma Steel Announces Commencement of US$400 Million Substantial Issuer Bid
MARIE, Ontario, June 21, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Corporation), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced it is commencing its previously announced substantial issuer bid (the Offer) to purchase for cancellation up to US$400 million of its common shares (Shares).
- MARIE, Ontario, June 21, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Corporation), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced it is commencing its previously announced substantial issuer bid (the Offer) to purchase for cancellation up to US$400 million of its common shares (Shares).
- 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.
- Today Algoma is on a transformation journey, investing in its people and processes, optimizing and modernizing to secure a sustainable future.