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Latest Sault Ste. Marie, Ontario Stories

2011-08-11 15:10:00

SAULT STE. MARIE, ON, Aug. 11, 2011 /PRNewswire/ - Essar Steel Algoma Inc. reported a net income of $33.2 million for the quarter ended June 30, 2011.  Shipments for the quarter were 641,017 tons, up 4.6% from the first quarter of the prior year. The Company reported EBITDA of $108.9 million for the first quarter compared to EBITDA earnings of $65.9 million for the first quarter the prior year.  EBITDA is a meaningful indicator of the Company's profitability. ...

2011-06-27 13:17:00

SAULT STE. MARIE, ON, June 27, 2011 /PRNewswire/ - The Board of Directors of Essar Steel Algoma Inc. is pleased to confirm James Hrusovsky officially assumed the role of Chief Executive Officer of the Company on June 24, 2011 having received final regulatory approval. Essar Steel Algoma Inc. is based in Sault Ste. Marie, Ontario.  Revenues are derived primarily from the manufacture and sale of rolled steel products, including hot and cold rolled sheet and plate. SOURCE...

2011-06-09 15:00:00

SAULT STE. MARIE, ON, June 9, 2011 /PRNewswire/ - For the fiscal year ended March 31, 2011, Essar Steel Algoma reported a net loss of $285.9 million. The loss was primarily attributable to higher raw material pricing, the most significant being iron ore pellets.    This was partially offset by higher sales volumes and improved steel pricing. The net loss for the fourth quarter was $91.1 million, due in part to an unplanned 23 day outage of # 7 blast furnace. Shipments...

2011-05-02 15:00:00

SAULT STE. MARIE, ON, May 2 /PRNewswire/ - The Board of Directors of Essar Steel Algoma Inc. is pleased to announce the pending appointment of James Hrusovsky as Chief Executive Officer of the Company.  The appointment and effective date are subject to pending regulatory approval. Mr. Hrusovsky, 54, has held a number of senior executive positions in the steel industry, most recently as Chief Executive Officer, Severstal Columbus. Mr. Malay Mukherjee, CEO Essar Steel Business...

2011-04-20 20:00:00

SAULT STE. MARIE, ON, April 20 /PRNewswire/ - Essar Steel Algoma Inc. (ESAI) announced today that it has reached an agreement with its iron ore pellet supplier, Cliffs Natural Resources Inc.  The agreement includes the volume, supply and price of 2011 pellets as well as the acceptance of the previously announced arbitration decision. A member of the Essar Group, Essar Steel Algoma Inc. is based in Sault Ste. Marie, Ontario.  As a fully integrated steel producer, the...

2011-02-07 12:30:00

SAULT STE. MARIE, ON, Feb. 7 /PRNewswire/ - Essar Steel Algoma reports that it has restarted its # 7 Blast Furnace.  The Blast Furnace is ramping up smoothly and expects to return to normal operating levels in the next few days. Cokemaking operations remain in full effect and limited production continues at select downstream operations. Chief Operating Officer, Pramod Shukla noted "As we look forward to the resumption of full operations we wish to thank our customers,...

2011-01-25 10:50:00

SAULT STE. MARIE, ON, Jan. 25 /PRNewswire/ - Essar Steel Algoma Inc. stated today that a cooling water leak, compounded by extreme weather conditions has resulted in an operating failure and unplanned outage of its # 7 Blast Furnace.  The leak occurred on January 21, 2011.  Initial efforts towards an expedited start up were not successful due to extreme weather conditions.  A slow and controlled restart of the furnace has commenced.  The Company expects the furnace...


Word of the Day
bodacious
  • Remarkable; prodigious.
  • Audacious; gutsy.
  • Completely; extremely.
  • Audaciously; boldly.
  • Impressively great in size; enormous; extraordinary.
This word is probably from the dialectal 'boldacious,' a blend of 'bold' and 'audacious.'
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