History

Algoma Steel’s $135 million investment in upgrading the Plate Mill is a major initiative aimed at enhancing the capacity and quality of its plate products, which represent a key competitive advantage for the company. The Modernization project increases the annual shipped plate capacity from 450,000 tons to 650,000 tons, representing a significant improvement in production efficiency.

Algoma Steel reinforces its commitment to sustainable practices with the release of its Environmental, Social, Governance Position Statement. The statement highlights Algoma’s focus on environmental responsibility, social impact, and governance excellence, aiming to drive progress toward a greener, more resilient steel industry.

With record-breaking profits, Algoma Steel celebrates its most successful year in 2022, distributing over $150 million in employee profit-sharing. This milestone reflects the strength of Algoma’s business strategy and commitment to its workforce.

Algoma Steel marks a pivotal step in its green steel initiative by breaking ground on its Electric Arc Furnace (EAF) facility. This major construction project paves the way for a lower-emission future, reinforcing Algoma’s commitment to sustainable steel production.

Algoma Steel unveils a transformative plan to adopt Electric Arc Furnace (EAF) technology, aiming to significantly reduce greenhouse gas emissions. Supported by the Canadian government, this plan reinforces Algoma’s commitment to green steel production.

Algoma Steel announces its return to public markets, merging with Legato Merger Corp. This strategic move enhances financial strength, positioning Algoma for continued growth and modernization, including its commitment to sustainable steelmaking.

Algoma Steel achieves a key milestone in its sustainability journey with the first arc at the No. 2 Ladle Metallurgy Furnace (LMF), advancing capabilities in refining and producing high-quality steel with enhanced energy efficiency.

Algoma Steel Inc. emerges from restructuring with the sale of substantially all of the company’s assets, resulting in new ownership for the company under the direction of a professional board of directors—alongside a commitment of a CDN $300 million investment in the modernization of the facilities in Sault Ste. Marie.

After nearly a decade as Essar Steel Algoma, the company returns to its roots with a fresh take on the Algoma brand.

In June 2007, Algoma was acquired by Essar Steel Holdings Ltd., a division of the multinational conglomerate Essar Global.

The market dropped again at the close of the decade, and in 2002 Algoma emerged from its second restructuring.

October 28, 1995 marked a proud moment in Algoma’s history as construction commenced on Algoma’s Direct Strip Production Complex (DSPC). Today the complex is Algoma’s cornerstone asset, positioning Algoma as one of the leaders in the North American hot-rolled sheet market.

Algoma’s No. 7 blast furnace goes into operation. The 315-foot-high furnace was designed to produce 5,000 tons of iron per day, replacing No. 3 and No. 4 blast furnaces.

On July 20th, Algoma’s No. 6 blast furnace was put on blast to replace No. 1 furnace. Expansion continued throughout the steelworks, including the construction of Algoma’s first Cold Mill in 1954.

The company had been working with General Motors since 1949 on a complementary agreement that met the needs of both companies. In May 1951, this relationship grew into a long-term agreement under which General Motors loaned Algoma Steel $15 million for plant expansion and agreed to purchase steel from Algoma through to 1967. The expansion program included a new combination bar and strip mill which moved Algoma into the flat-rolled steel market.

The effect of the Great Depression hits Sault Ste. Marie and ultimately forces the company into receivership.

Algoma’s No. 3 Blast Furnace was constructed with a capacity of 450 tons per day, along with a modern gas engine plant, three additional open-hearth furnaces, new docks, and several merchant mills to increase Algoma’s product lines. By 1912, the Algoma Steel Corporation was formed.

This marked the largest charcoal blast furnace ever built and operated. In its first year, it established a world production record of 173 tons of pig iron in a 24-hour period. By March, Algoma’s No. 2 Blast Furnace was commissioned.

The steelmaking process (Bessemer) went into operation, producing the liquid steel that would be cast into ingots and rolled into the very rails that would ultimately unite the nation from coast to coast.

Thanks to the vision of Algoma’s founding father, Francis Clergue, February marked the start of construction of the new iron and steel plant, named the Algoma Iron, Nickel and Steel Company. It took almost a year to the day to complete construction. It was an exciting, albeit modest, beginning for Algoma, with two small blast furnaces, a 60 ton Bessemer furnace, a 23- inch bloom rolling mill, and a rail mill.