News & Insights

SAULT STE. MARIE, ONTARIO (November 11, 2021) – 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, 2021.

SAULT STE. MARIE, ONTARIO (November 11, 2021) – 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 its Board of Directors has authorized the Company to construct two new state- of-the-art electric-arc-furnaces (EAF) to replace its existing blast furnace and basic oxygen steelmaking operations.

SAULT STE. MARIE, Ontario, Nov. 1, 2021 – Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2022 second quarter financial results after the market closes on Thursday, November 11, 2021.

SAULT STE. MARIE, CANADA, October 27, 2021 – Algoma Steel Group Inc. (“Algoma”) (NASDAQ: ASTL; TSX: ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that it has entered into a joint venture with Triple M Metal LP (“Triple M”), one of North America’s largest privately-owned ferrous and non-ferrous metal recycling companies, establishing a jointly owned company known as ATM Metals Inc.

SAULT STE. MARIE, CANADA, October 27, 2021 – Algoma Steel Group Inc. (“Algoma”) (NASDAQ: ASTL; TSX: ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced its Chief Commercial Officer Robert Dionisi, has indicated his pending retirement effective May 1st, 2022. The Company has identified Rory Brandow, Algoma’s current Director of Regional Sales to succeed Robert as Vice President of Sales.

SAULT STE. MARIE, CANADA, October 22, 2021 – Algoma Steel Group Inc. (“Algoma”) (NASDAQ: ASTL; TSX: ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that S&P Global Ratings (“S&P”) has upgraded Algoma’s issuer credit rating to ‘B-’ from ‘CCC+’, with a stable outlook.

SAULT STE. MARIE, CANADA October 22, 2021 — Algoma Steel Group Inc., with operations based in Sault Ste. Marie, Ontario (“Algoma”) (NASDAQ: ASTL, ASTLW; TSX: ASTL, ASTL.WT), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced the addition of six new directors to its Board following the closing of Algoma’s business combination with Legato Merger Corp. (“the Transaction”).

SAULT STE. MARIE, CANADA October 19, 2021 — Today Algoma Steel Group Inc., parent company of Algoma Steel Inc. (“Algoma”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced the completion of their merger with Legato Merger Corp. (“Legato”), a publicly-traded special purpose acquisition company, taking public a company that is working to build a new era in steel through its transformational journey.

SAULT STE. MARIE, September 29, 2021 – Algoma Steel Inc. today announced it is contributing $100,000 to Sault College to support the education and development of students pursuing careers in steel and other vital industries through the College’s innovative Bachelor of Engineering – Mechatronics program.

SAULT STE. MARIE, September 23, 2021 – Algoma Steel Inc. today announced they are supporting the Soo Pee Wee Hockey League and the Sault Female Hockey Association through a new multi-year investment program to help defer costs for families and ensure that programs, awards, coaching, and training remain strong, promoting healthy active living for our youth.

SAULT STE. MARIE, September 17, 2021 – Algoma Steel Inc. today applauded recent statements by Sonny Spina, the Conservative candidate for Sault Ste. Marie, affirming the Conservative Party’s endorsement of the $420 million of federal financial commitments to facilitate Algoma Steel’s proposed transition to electric arc furnace (EAF) steelmaking.

SAULT STE. MARIE, September 16, 2021 – Algoma Steel Inc. today announced a donation of $10,000 to St. Vincent Place to support their Lunches for Learning program. Lunches for Learning provides children in the Sault Ste. Marie area who are food insecure with healthy meals.

SAULT STE. MARIE, ONTARIO (August 19, 2021) – Today Algoma Steel Inc. (the “Company”) reported strong first quarter results for the fiscal quarter ended June 30, 2021, setting the stage for its parent company, Algoma Steel Group Inc. (“Algoma”) to become a public company later in 2021. Unless otherwise specified, all amounts are in Canadian dollars.

SAULT STE. MARIE, ONTARIO (August 13, 2021) – Algoma Steel Inc. (“Algoma” or the “Company”) and its merger partner Legato Merger Corp. (LEGO, LEGOU, LEGOW), announced today that Algoma will release its financial results for its fiscal first quarter ended June 30, 2021 on Thursday, August 19, 2021, after the close of the market.

SAULT STE. MARIE, ONTARIO (July 5, 2021) – Algoma Steel Inc.’s (“Algoma Steel”) potential to become the “greenest” flat-rolled steel producer in Canada marked another significant milestone today with the Government of Canada’s commitment of up to $420 million in financial support. Unless otherwise specified, all amounts are in Canadian dollars. For the fourth quarter, Algoma Steel reported a net income of $114 million, up from a loss of $73.5 million in the prior quarter and up from $19 million in the fourth quarter of fiscal 2020.

SAULT STE. MARIE, ONTARIO (June 17, 2021) – Algoma Steel Inc.’s (“Algoma Steel” or the “Company”) transformation journey is on track, as signaled today with the strong financial results reported for the fiscal year ended March 31, 2021. Unless otherwise specified, all amounts are in Canadian dollars. For the fourth quarter, Algoma Steel reported a net income of $114 million, up from a loss of $73.5 million in the prior quarter and up from $19 million in the fourth quarter of fiscal 2020.

NEW YORK and SAULT STE MARIE, ONTARIO, CANADA–(CISION)—The Canadian parent company of privately held Algoma Steel Inc. (“Algoma”), a leading independent steel producer with extensive steelmaking and finishing operations in Sault Ste. Marie, Ontario, Canada, and Legato Merger Corp. (NASDAQ: LEGO, LEGOU, LEGOW), a special purpose acquisition company (“Legato”), today jointly announced that they have entered into a definitive merger agreement that will result in Algoma becoming a publicly listed company with its common shares traded on the Nasdaq Stock Market. Algoma also intends to apply to list its common shares on the Toronto Stock Exchange.

SAULT STE. MARIE, February 25, 2021 – Algoma Steel Inc. (“ASI”), a leading North American supplier of value-added steel sheet and plate products, announces that Moody’s Investors Service (“Moody’s”) upgraded ASI’s rating to B3/Stable Outlook, as of January 19, 2021.