Jobs minister says Algoma Steel loan about ‘saving the furniture' [BNN Bloomberg (Canada)]
Algoma Steel Group Inc. (ASTL)
Company Research
Source: BNN Bloomberg
“At the end of the day, we have to save this sector, and I think we went into this eyes wide open, knowing there was going to be disruption, but also determined that we would have a sovereign Canadian steel sector,” Hajdu said in an interview with CTV Question Period airing Sunday. “That's why the loan, so that the company would have the breathing room and the time to be able to pivot to new product and new market.” The federal government has received criticism this week after Algoma Steel CEO Michael Garcia revealed on CTV's Power Play on Tuesday that both Ottawa and the Ontario government knew the company's business plan included a re-tooling of its Sault Ste. Marie plant that would result in layoffs. Garcia also said he had been “very open” with both the government and his employees about the direction of the company moving forward. Algoma, which is Canada's last remaining independent steel producer, issued layoff notices to about 1,000 workers last week effective in March
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ASTL
News
- Securing Arctic sovereignty [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- United Steelworkers & CSTEC launch Steelworker POWER Action Centre in Sault Ste. Marie [Canadian Business Journal (Canada)]Canadian Business Journal
- Terence Corcoran: Forget Algoma. Here's the real economic story [Yahoo! Finance Canada]Yahoo! Finance Canada
- Steelworkers condemn Algoma’s heartless holiday job cuts [Canadian Business Journal (Canada)]Canadian Business Journal
- Steelworkers condemn Algoma's heartless holiday job cuts [Yahoo! Finance]Yahoo! Finance
ASTL
Earnings
- 10/29/25 - Miss
ASTL
Sec Filings
- 12/2/25 - Form 6-K
- 12/1/25 - Form 6-K
- 11/20/25 - Form SCHEDULE
- ASTL's page on the SEC website