- Business
- Algoma Steel Group Inc. (TSX: ASTL) is a Canada-based integrated producer of hot- and cold-rolled steel sheet and plate products. The company manufactures flat/sheet steel products including temper rolled, cold rolled, hot-rolled pickled and oiled, floor plate, and cut-to-length sheet for the automotive, hollow structural products, light manufacturing, and transportation industries; plate steel products comprising rolled, hot-rolled, and heat-treated plate for construction, railcars, buildings, bridges, off-highway equipment, storage tanks, ships, military armored products, pipelines, and wind energy equipment; and steel by-products such as furnace and buckwheat coke, braize coke, flue dust, high sulphur beach and kish iron, BOF pit gristly and scrap, BOF and pellet fines, mill roll scale, light oil, coal tar, granulated and air-cooled slag, machine shop turnings, used mill rolls, recycled oil, non-ferrous metal, and lime fines. Algoma Steel operates primarily from its facility in Sault Ste. Marie, Ontario, serving customers in Canada, the United States, and internationally, with a production capacity of approximately 4 million tons per year utilizing blast furnaces, coke batteries, basic oxygen furnaces, and a direct strip production complex. Founded in 1901 and headquartered at 105 West Street, Sault Ste. Marie, Ontario, the company recently completed a C$500 million government financing transaction in November 2025 with the Governments of Canada and Ontario, including C$400 million from the Canada Enterprise Emergency Funding Corporation, to bolster its balance sheet and support its transition to electric arc furnace steelmaking for lower-carbon production; increased its asset-based revolving credit facility from US$300 million to US$375 million in September 2025 with participation from Export Development Canada; and advances a plate-first commercial strategy amid market challenges including tariffs.