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Last updated on April 19, 2014 at 13:20 EDT

Latest Essar Group Stories

2013-06-19 20:20:25

SAULT STE. MARIE, ON, June 19, 2013 /PRNewswire/ - Essar Steel Algoma Inc. reported today EBITDA earnings of $8.1 million for the three month period ending March 31, 2013.  EBITDA, excluding exceptional items, for fiscal year 2013 was $57.3 million as compared to $321 million for fiscal 2012.  The decline from fiscal year 2012 is attributed to lower shipments, depressed selling prices and higher than market iron ore costs.  EBITDA is a meaningful indicator of the...

2013-06-13 16:22:30

CLEVELAND, June 13, 2013 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) announced today that it has entered into an agreement with Essar Steel Algoma Inc. to extend the iron ore Pellet Sale and Purchase Agreement between the two companies to 2024. The previous agreement was expected to expire in 2016. The Agreement includes Essar's minimum volume iron ore pellet purchases from Cliffs beyond 2016 and pricing for 2013 through 2024. (Logo:...

2013-06-13 16:22:29

SAULT STE. MARIE, ON, June 13, 2013 /PRNewswire/ - Essar Steel Algoma Inc. announced today that it has reached an agreement with its iron ore pellet supplier, Cliffs Natural Resources Inc.  The Agreement sets out the terms and conditions of a negotiated amendment and extension of the current Pellet Sale and Purchase Agreement which was scheduled to expire 2016.  Among other things, the Agreement addresses issues that have arisen related to market price dynamics and extends...

2013-05-30 04:23:19

DALLAS and MUMBAI, India, May 30, 2013 /PRNewswire/ -- Aegis Limited, a leading outsourcing and technology services company and part of the USD 27 billion conglomerate Essar, today announced that it has been recognized as a leader in the IDC MarketScape: Worldwide Customer Care BPO Services 2013 Vendor Analysis - Leveraging the Four Pillars to Modernize Customer Experience (doc #240710, April 2013). IDC MarketScape measures key strategy of service provider success across two...

2013-05-09 04:22:09

DALLAS and MUMBAI, India, May 9, 2013 /PRNewswire/ -- Aegis Limited, a leading outsourcing and technology services company and part of the USD 27 billion conglomerate Essar, today announced that it has been ranked 12th in the International Association of Outsourcing Professionals (IAOP) 2013 Global Outsourcing 100. Aegis has moved up the charts of the Global Outsourcing 100(R) rankings from 26th in 2009 to 12th in 2013. The Global Outsourcing 100 list serves as the essential...

2013-05-07 20:21:23

SAULT STE. MARIE, ON, May 7, 2013 /PRNewswire/ - Essar Steel Algoma Inc. confirmed today that the Company's lenders have approved an amendment to its September 2012 Credit Agreement allowing for credit support from its parent companies to reinforce the Company's liquidity position. The amendment also allows the Company to raise additional secured debt of $25 million to reinforce the Company's liquidity situation. The amendment became effective May 6, 2013. Under the amendment...

2013-04-27 08:20:54

SIVAGANGA and MUMBAI, India, April 27, 2013 /PRNewswire/ -- - To set up a 250-seat facility - About 500 direct and 2,000 indirect jobs to be generated - This is Aegis' 21stcentre in India and 57th centre globally Aegis Limited, a global outsourcing and technology services company and part of the $27 billion conglomerate Essar, today laid the foundation stone and ground breaking ceremony for its new center in Sivaganga in Tamil Nadu. The...

2013-04-17 12:22:09

SAULT STE. MARIE, ON, April 17, 2013 /PRNewswire/ - Essar Steel Algoma Inc. announced today that its parent companies will, in the aggregate, provide $50 million of credit support to reinforce the Company's liquidity position. The Company is seeking an amendment from the lenders under its September 2012 Credit Agreement to allow for access to the funds as required. Essar Steel Algoma Inc. is based in Sault Ste. Marie, Ontario.  Revenues are derived primarily from the...

2013-04-12 12:22:04

MELBOURNE, Victoria, April 12, 2013 /CNW/ - Newcrest Mining Limited is pleased to announce the appointment of Philip Aiken as a Non-Executive Director. His appointment is effective from today, 12 April 2013. Mr Aiken brings to the Newcrest Board extensive Australian and international business experience, principally in the engineering and resources sectors. His early career was at BOC Gases which he joined in 1970 after graduating in Chemical Engineering from the University of...

2013-03-25 04:21:32

-- Centrica contracts for approximately 1.75 mmtpa of Train 5 LNG volumes HOUSTON, March 25, 2013 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that its subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Liquefaction"), has entered into a liquefied natural gas ("LNG") sale and purchase agreement ("SPA") with Centrica plc ("Centrica") under which Centrica has agreed to purchase 91,250,000 MMBtu of annual LNG volumes upon the...