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2014-06-26 00:20:29

Company and USW Local 2724 ratify collective agreement SAULT STE MARIE, ON, June 25, 2014 /PRNewswire/ - ESSAR Steel Algoma Inc. announced today the Company and USW Local 2724, the union representing the Company's technical, professional and front line management employees, have ratified a collective agreement. Members of Local 2724 voted today in favour of the new agreement which comes into effect August 1, 2014 for a twenty month term. This early agreement recognizes the...

2014-06-16 20:20:39

SAULT STE. MARIE, ON, June 16, 2014 /PRNewswire/ - As part of Essar Steel Algoma Inc.'s ("Algoma") refinancing and recapitalization efforts, Algoma has entered into confidential discussions with investors representing approximately seventy per cent of the 9.875% US$385mn senior unsecured notes. Algoma also has executed non-disclosure agreements and is engaged in discussions with advisors representing an ad hoc group of holders of 9.375% US$400mn senior secured notes. The purpose of...

2014-02-13 16:23:30

SAULT STE. MARIE, ON, Feb. 13, 2014 /PRNewswire/ - Essar Steel Algoma Inc. reported today an EBITDA loss of $8.0 million for the three month period ended December 31, 2013, compared to positive EBITDA of $19.3 million for the same period a year ago. The loss this quarter reflects a 9.9% decline in shipment volume compared to the same period last year, coupled with increased fuel and utilities costs. EBITDA is a non-GAAP measure of profitability, used by management as an...


Word of the Day
monteith
  • A large punch-bowl of the eighteenth century, usually of silver and with a movable rim, and decorated with flutings and a scalloped edge. It was also used for cooling and carrying wine-glasses.
  • A kind of cotton handkerchief having white spots on a colored ground, the spots being produced by a chemical which discharges the color.
This word is possibly named after Monteith (Monteigh), 'an eccentric 17th-century Scotsman who wore a cloak scalloped at the hem.'
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