ALGOMA

Algoma Steel Provides Fiscal Fourth Quarter 2024 Guidance

Retrieved on: 
Monday, March 25, 2024
STE, Adjustment, TSX, Electric arc furnace, ASTL, EAF, Coal

MARIE, Ontario, March 25, 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 fourth quarter ending March 31, 2024.

Key Points: 
  • MARIE, Ontario, March 25, 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 fourth quarter ending March 31, 2024.
  • Fiscal 2024 fourth quarter total steel shipments are expected to be in the range of 445,000 to 460,000 tons and Adjusted EBITDA is expected to be in the range of $30 million to $40 million.
  • As previously announced, during the quarter Algoma experienced an unplanned outage at its blast furnace in connection with a utility corridor collapse at its coke-making facility.
  • It is expected that the resultant outage reduced production by 120,000 to 150,000 net tons, significantly impacting Adjusted EBITDA performance in the quarter.

Algoma Steel Group to Participate in the BMO 33rd Global Metals, Mining & Critical Minerals Conference

Retrieved on: 
Monday, February 26, 2024
BMO, STE, Mining, News, TSX, ASTL, Conference, Legislation

MARIE, Ontario, Feb. 26, 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 the Company is participating in the BMO 33rd Global Metals, Mining & Critical Minerals Conference on Monday, February 26, 2024 and Tuesday, February 27, 2024.

Key Points: 
  • MARIE, Ontario, Feb. 26, 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 the Company is participating in the BMO 33rd Global Metals, Mining & Critical Minerals Conference on Monday, February 26, 2024 and Tuesday, February 27, 2024.
  • Prior to Algoma’s attendance at this conference, the Company will post a copy of the presentation it intends to use in the Investors section of its website.
  • This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning of the U.S.
  • Many factors could cause actual future events to differ materially and adversely from the forward-looking statements in this document.

Algoma Resumes Normal Steel Production

Retrieved on: 
Wednesday, February 14, 2024
STE, News, TSX, ASTL, Coke, Legislation, Blast furnace, Environment

MARIE, Ontario, Feb. 14, 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 advised the repair and restart of its blast furnace is complete and steel production resumed on Sunday, February 11, 2024.

Key Points: 
  • MARIE, Ontario, Feb. 14, 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 advised the repair and restart of its blast furnace is complete and steel production resumed on Sunday, February 11, 2024.
  • Algoma has strengthened its operations while advancing essential repair work required after a structure supporting utilities piping at Algoma’s coke-making plant collapsed on January 20, 2024.
  • Algoma remains focused on completing necessary utilities corridor repairs safely and efficiently while increasing coke-making capacity and rebuilding inventory levels.
  • The Company will continue to assess supplementing its coke supplies with market purchases to balance its requirement for iron production.

Algoma Addresses Casthouse Incident

Retrieved on: 
Friday, February 9, 2024
Sault Area Hospital, News, Blast furnace, TSX, Health, Safety, Legislation, Environment, ASTL, STE

MARIE, Ontario, Feb. 09, 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 advised that at approximately 10:00 pm on Wednesday, February 7 there was an incident at the north casthouse of the blast furnace complex where the Company believes slag made contact with moisture in the hot iron trough.

Key Points: 
  • MARIE, Ontario, Feb. 09, 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 advised that at approximately 10:00 pm on Wednesday, February 7 there was an incident at the north casthouse of the blast furnace complex where the Company believes slag made contact with moisture in the hot iron trough.
  • Twelve workers were impacted by the incident and five were treated at Sault Area Hospital.
  • As previously disclosed, Algoma experienced issues at the blast furnace as an unexpected consequence of an incident on Saturday, January 20 when a structure supporting utilities piping collapsed.
  • The Company continues to advance on-site repair work as well as a comprehensive investigation into the January 20 incident.

Algoma Steel Group Reports Fiscal Third Quarter 2024 Financial Results

Retrieved on: 
Tuesday, February 6, 2024
EDGAR, Nature, EDT, Calendar, Natural gas, Legislation, International, News, Steel, Algoma Steel, Carbon, Adjustment, UAW, Alloy, TSX, Hand, EAF, Coke, Blast furnace, STE, Bank statement, Webcast, Insurance, ASTL, Earnout, Conference

SAULT STE. MARIE, Ontario, Feb. 06, 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 results for its fiscal third quarter ended December 31, 2023.

Key Points: 
  • MARIE, Ontario, Feb. 06, 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 results for its fiscal third quarter ended December 31, 2023.
  • As compared with the prior year quarter, steel revenue was $556.9 million, compared to $512.0 million, and revenue per ton of steel sold was $1,192, compared to $1,239.
  • Net loss in the third quarter was $84.8 million, compared to a loss of $69.8 million in the prior-year quarter.
  • We compensate for these limitations by relying primarily on our IFRS results using such measures only as supplements to such results.

Results exceed expectations for the Marine Acoustic Research Station (MARS)

Retrieved on: 
Tuesday, January 30, 2024
UQAR, Noise, Research, Vibration, St. Lawrence River, Laurentian Channel, Invertebrate, Ship, Government, Environment, Water, Rimouski, Hearing, CSL, Transport Canada, Whale, Atmosphere, Canal

The research station has proved its worth and has become an essential tool for understanding the marine soundscape of the St. Lawrence and the noise emitted by ships in order to limit their impact on marine wildlife such as whales.

Key Points: 
  • The research station has proved its worth and has become an essential tool for understanding the marine soundscape of the St. Lawrence and the noise emitted by ships in order to limit their impact on marine wildlife such as whales.
  • Since the station was set up, the team has carried out 17 missions aboard partner vessels to perform vibration diagnostics.
  • "The importance of the St. Lawrence River means that everyone needs to work together to develop sustainable marine shipping solutions for Canada, and the world.
  • And most importantly, this research means that we can find solutions for our environment and endangered marine mammals", says the Minister of Transport, Pablo Rodriguez.

Algoma Steel Provides Update on Incident at Coke-Making Plant

Retrieved on: 
Tuesday, January 23, 2024
ASTL, Legislation, Blast furnace, Insurance, STE, Work, Environment, Coke, TSX, EAF, Safety, The Blast Furnace, Engineering, News

MARIE, Ontario, Jan. 23, 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 an update further to the incident on Saturday, January 20 at its coke-making plant when a structure supporting utilities piping collapsed.

Key Points: 
  • MARIE, Ontario, Jan. 23, 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 an update further to the incident on Saturday, January 20 at its coke-making plant when a structure supporting utilities piping collapsed.
  • As a result, Algoma currently believes that there is a low risk of impact to the adjacent waterway.
  • A repair plan for the coke-making plant is being developed with third party engineering support in accordance with Algoma's Environmental Compliance Approval.
  • At the time of the coke-making incident, for safety reasons Blast Furnace operations were temporarily suspended while the site was secured.

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.

New research brief from Kinark Child and Family Services highlights virtual autism services as an effective and sustainable method for the delivery of quality care

Retrieved on: 
Monday, January 15, 2024
Speech–language pathology, Tic disorder, Research, Applied behavior analysis, Spectrum, Life, Census, Eating, Knowledge, OAP, Occupational therapy, Anxiety, COVID-19, ABA, Child, SLP

Toronto, ON, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Kinark Autism Services, a division of Kinark Child and Family Services (Kinark), has published its latest research brief on best practices in virtual autism services and recommendations to maximize the potential of virtual care to make needed supports more readily available and less costly for families.

Key Points: 
  • Toronto, ON, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Kinark Autism Services, a division of Kinark Child and Family Services (Kinark), has published its latest research brief on best practices in virtual autism services and recommendations to maximize the potential of virtual care to make needed supports more readily available and less costly for families.
  • Overall, Kinark's review found that virtual services are an effective and sustainable method of support with outcomes that are comparable to some in-person services.
  • During COVID-19 service shut-downs and in-person restrictions, virtual services were seen to be a necessary, but temporary, adaptation to more traditional in-person services for children with autism spectrum disorder.
  • Virtual services can include Applied Behaviour Analysis (ABA), Occupational Therapy, Speech-Language Pathology (SLP), and support services for conditions commonly associated with autism such as anxiety, obsessive-compulsive disorder, and eating disorders.

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.