ASTL

Algoma Steel Reports Incident at Coke-Making Plant

Retrieved on: 
Saturday, January 20, 2024
ASTL, Hand, Legislation, Failure, STE, Environment, Coke, TSX, Safety, News, Atmosphere

MARIE, Ontario, Jan. 20, 2024 (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 that in the early hours of Saturday, January 20, 2024 there was a collapse of a structure supporting utilities piping at our coke-making plant.

Key Points: 
  • MARIE, Ontario, Jan. 20, 2024 (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 that in the early hours of Saturday, January 20, 2024 there was a collapse of a structure supporting utilities piping at our coke-making plant.
  • There have been no injuries and the Algoma team is managing the occurrence with the safety of our employees and the community as our highest priority.
  • The incident resulted in a coke oven gas main failure generating abnormal coke oven gas flaring and air emissions.
  • Algoma advises that it has adequate coke supply on hand, and it does not anticipate an impact on customer shipments at this time.

Algoma Steel Provides Fiscal Third Quarter 2024 Guidance

Retrieved on: 
Wednesday, January 3, 2024
UAW, TSX, Electric arc furnace, STE, Adjustment, ASTL

MARIE, Ontario, Jan. 03, 2024 (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 provided guidance for its fiscal third quarter ending December 31, 2023.

Key Points: 
  • MARIE, Ontario, Jan. 03, 2024 (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 provided guidance for its fiscal third quarter ending December 31, 2023.
  • Fiscal 2024 third quarter total steel shipments are expected to be around 515,000 tons and Adjusted EBITDA is expected to be in the range of $(10) million to breakeven.
  • Due to the lagging nature of our order book, UAW strike-driven soft demand and pricing in the previous quarter and through October impacted our fiscal third quarter results.
  • We expect this pricing strength, coupled with continued solid market fundamentals, to drive significantly improved realized pricing and overall fiscal results starting with our fiscal fourth quarter,” Mr. Garcia concluded.

Algoma Steel Group Announces Director Retirement

Retrieved on: 
Thursday, December 21, 2023
Audit committee, Acquisition, ASTL, Legislation, News, Operation, TSX, Human resources, Compensated emancipation, STE, Management

MARIE, Ontario, Dec. 21, 2023 (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 that Andrew Schultz is retiring from the board of directors effective December 31, 2023.

Key Points: 
  • MARIE, Ontario, Dec. 21, 2023 (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 that Andrew Schultz is retiring from the board of directors effective December 31, 2023.
  • Mr. Schultz originally joined the board of Algoma Steel Holdings Inc., a predecessor to the Company, in connection with its acquisition of the assets of Essar Algoma Steel Inc. in 2018, and continued as a director of Algoma in October 2021 as it became a public company following the merger with Legato Merger Corporation.
  • “Andy guided Algoma through numerous strategic milestones, helped establish robust governance practices and championed our investment in electric arc steelmaking.
  • During his tenure on the board, Andy played a pivotal role in establishing Algoma as an emerging North America leader in green steel with a strong and sustainable future.

Algoma Steel Announces Retirement of Vice President - Sales

Retrieved on: 
Thursday, November 23, 2023
Commercial, Hand, EAF, Retirement, ASTL, Legislation, News, Customer service, TSX, Safety, Steel, STE, Management

MARIE, Ontario, Nov. 23, 2023 (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 Vice President - Sales, Rory Brandow, has indicated his pending retirement effective December 1st, 2023.

Key Points: 
  • MARIE, Ontario, Nov. 23, 2023 (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 Vice President - Sales, Rory Brandow, has indicated his pending retirement effective December 1st, 2023.
  • The Company has identified Chris Ford, Algoma’s current Director - US Sales and Customer Service, to succeed Rory as Vice President - Commercial.
  • Michael Garcia, the Company’s Chief Executive Officer, remarked, “Over an extensive career with Algoma, Rory has personified our core values of safety, teamwork, integrity and caring.
  • He has been a strong advocate for Algoma over the years and we extend our sincere gratitude to Rory for his leadership and service.

Algoma Steel Group Reports Fiscal Second Quarter 2024 Financial Results

Retrieved on: 
Thursday, November 2, 2023
Adjustment, Ontario government debt, Strategic Innovation Fund, International Accounting Standards Board, EDT, International, Earnout, EDGAR, Algoma Steel, EBITDA, Legislation, News, Carbon, Conference, Maintenance, UAW, Bank statement, Nature, ASTL, EAF, Webcast, Corporation, Hand, Steel, MSCI EAFE, Calendar, TSX, STE, Blast furnace, Video game, Holding company, Audit, Counsel

SAULT STE. MARIE, Ontario, Nov. 02, 2023 (GLOBE NEWSWIRE) --  (November 2, 2023) – 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 results for its fiscal second quarter ended September 30, 2023.

Key Points: 
  • MARIE, Ontario, Nov. 02, 2023 (GLOBE NEWSWIRE) --  (November 2, 2023) – 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 results for its fiscal second quarter ended September 30, 2023.
  • Michael Garcia, the Company’s Chief Executive Officer, commented, “We delivered results in the fiscal second quarter that were in line with our previously disclosed outlook.
  • Net income in the second quarter was $31.1 million, compared to net income of $87.2 million in the prior-year quarter.
  • Upon dialing in, please request to join the Algoma Steel Second Quarter Conference Call.

Algoma Steel to Announce Fiscal 2024 Second Quarter Results November 2, 2023

Retrieved on: 
Monday, October 23, 2023
ASTL, Conference, Webcast, TSX, STE, Rare-earth element, Internet service provider, Pharmaceutical industry

MARIE, Ontario, Oct. 23, 2023 (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, announced today that the Company will release its fiscal 2024 second quarter financial results after the market closes on Thursday, November 2, 2023.

Key Points: 
  • MARIE, Ontario, Oct. 23, 2023 (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, announced today that the Company will release its fiscal 2024 second quarter financial results after the market closes on Thursday, November 2, 2023.
  • A webcast and conference call will be held on Friday, November 3, 2023 at 10:00 a.m. Eastern Time to review the Company’s results, discuss recent events, and conduct a question-and-answer session.
  • For those unable to access the webcast, the conference call will be accessible domestically or internationally by dialing 877-425-9470 or 201-389-0878, respectively.
  • Upon dialing in, please request to join the Algoma Steel Fiscal Second Quarter Conference Call.

Algoma Steel Announces Extension of Iron Ore Contract with U. S. Steel to Support Transition to Electric Arc Steelmaking

Retrieved on: 
Monday, October 2, 2023
STE, Partnership, Carbon footprint, JSW Steel, U.S. Steel, ASTL, Steel, Carbon, Iron, EAF, TSX, News, NYSE, Legislation, Risk management

MARIE, Ontario, Oct. 02, 2023 (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 a two-year extension of its existing iron ore purchase contract with United States Steel Corporation (“U.

Key Points: 
  • MARIE, Ontario, Oct. 02, 2023 (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 a two-year extension of its existing iron ore purchase contract with United States Steel Corporation (“U.
  • S. Steel”) (NYSE: X), with an option to further extend for a third year solely at Algoma’s discretion.
  • The extended purchase contract is anticipated to cover the expected volumes of iron ore required to complete Algoma’s transition from blast furnace to electric arc furnace (“EAF”) steelmaking.
  • The extension with U. S. Steel represents another strategic milestone for Algoma as it continues on its transformative journey toward sustainable steel production through electric arc steelmaking.

Algoma Steel Provides Fiscal Second Quarter 2024 Guidance

Retrieved on: 
Thursday, September 28, 2023
Maintenance, STE, Calendar, ASTL, United Auto Workers, EAF, TSX, Adjustment, Rolling (metalworking)

MARIE, Ontario, Sept. 28, 2023 (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 provided guidance for its fiscal second quarter ending September 30, 2023.

Key Points: 
  • MARIE, Ontario, Sept. 28, 2023 (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 provided guidance for its fiscal second quarter ending September 30, 2023.
  • Fiscal 2024 second quarter total steel shipments are expected to be in the range of 540,000 to 550,000 tons and Adjusted EBITDA is expected to be in the range of $75 million to $85 million.
  • Michael Garcia, Algoma’s Chief Executive Officer commented, “Our operations have run in line with our expectations in the fiscal second quarter.
  • In the meantime, we expect to perform our normal annual steel making vessel reline, along with other planned seasonal maintenance during the fiscal third quarter.

Algoma Steel Announces Results of Voting at Annual Meeting of Shareholders

Retrieved on: 
Tuesday, September 26, 2023
TSX, STE, ASTL, Meeting, Rare-earth element, Security (finance), Holding company

SAULT STE.

Key Points: 
  • SAULT STE.
  • MARIE, Ontario, Sept. 26, 2023 (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, announced today the results of voting at its virtual annual meeting of shareholders held on September 26, 2023 (the “Meeting”).
  • All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company.
  • The Company received proxies and virtual votes at the Meeting as set out below:

Algoma Steel donates C$120,000 to support United Way’s Harvest Algoma

Retrieved on: 
Tuesday, September 19, 2023
Partnership, STE, ASTL, Carbon, Environmental, social, and corporate governance, TSX, Food security, United Way, News, Legislation, United

MARIE, Ontario, Sept. 19, 2023 (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, announced today that as part of its longstanding support of the United Way, it is making a C$120,000 donation spread over three years to the United Way’s Harvest Algoma project.

Key Points: 
  • MARIE, Ontario, Sept. 19, 2023 (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, announced today that as part of its longstanding support of the United Way, it is making a C$120,000 donation spread over three years to the United Way’s Harvest Algoma project.
  • The United Way’s Harvest Algoma, a hub for food rescue, preparation and production, gathers food donations and distributes them across the community of Sault St. Marie to over 70 partner agencies.
  • Algoma’s donation follows a call for community support to help Harvest Algoma secure a three-year funding commitment required to continue operations.
  • Michael Garcia, the Company’s Chief Executive Officer, commented, “We are proud to join with others in our community to enable Harvest Algoma to continue its vital work fostering food security.