Quantcast

Latest Essar Steel Algoma Stories

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...

2014-06-20 20:20:28

Tentative agreement unanimously recommended by USW 2724 bargaining committee SAULT STE. MARIE, ON, June 20, 2014 /PRNewswire/ - Essar Steel Algoma Inc. and USW, Local 2724 representing the Company's salaried employees announced today that a tentative agreement has been reached. This tentative agreement has been unanimously recommended by the USW Local 2724 bargaining committee. Special Membership meetings will be held on Tuesday, June 24, 2014 Marconi Hall Ballroom "C" at 8am, 12...

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
snash
  • To talk saucily.
  • Insolent, opprobrious language; impertinent abuse.
This word is Scots in origin and probably imitative.