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ALGOMA STEEL
European steel market crisis hits global operations of Indian firms like Tata Steel, ArcelorMittalPoor demand coupled with rising imports from China seem to have added to the woes of steelmakers in Europe and the US, including Indian-own...- Essar Steel Algoma concludes $1.4 billion recap and refinanceEssar Steel Algoma said it has successfully completed the $ 1.4 billion recapitalisation and refinancing process.
- Tough measures help Essar turn around troubled Algoma SteelToday, Algoma claims it is witnessing a turnaround. Essar has managed to bring the company back to profitability in the last two quarters.
- Essar Steel Algoma demands cover against bankruptcy in USThe company filed for protection under chapter 15 of the Bankruptcy Code in the US while listing liabilities of more than $1 billion.
- Essar Group to ramp up capacity at US pellet plant to 7 million tonnesThe new pellet plant will secure Algoma's raw material needs. Expanded capacity will leave a surplus which can be sold in the market.
- Essar's takeover story a template for other cosEssar’s negotiating officer realised that small allowances would go a long way in assuring the anxious workers of Algoma Steel that the Ind...
- Essar Group may make further investment in CanadaAfter acquiring Algoma steel in 2007, diversified Essar Group may make further investments in Canada across several areas.
- Essar Steel Algoma launches VRS as sales fallESSAR Steel Algoma has decided to launch VRS to employees to cope with the sudden drop in steel demand. The decision to offer VRS follows t...
- Essar Steel puts staff at Canadian business Algoma on layoff noticeFactors like a looming global recession and sagging commodity prices are forcing Indian corporates to slash their overseas production targe...
- Essar Steel Algoma to hike steel capacityCanada-based Essar Steel Algoma, part of $5-billion Essar Steel Holdings (ESH), plans to invest close to Rs 1,200 crore in expanding its st...
- Essar to inject $160mn into Canadian ops; step up productionEssar Steel is pumping in USD 160 mn into Canadian operations to ramp up production to 3.6 mn tonnes per annum to feed demand in North Amer...
- Essar completes Algoma buy, to cut costsEssar Global plans to reduce costs and widen the product range of Canada's Algoma Steel Inc.
- Essar completes acquisition of AlgomaEssar Global has completed acquisition of Canadian steel maker Algoma for $1.58 billion.
- Ruias to raise $900 m to fund Algoma buyEssar Global, the international holding company for the Ruias, will raise $900 million through a combination of senior notes and loans to f...
- Algoma shareholders gives nod for sale to EssarThe deal, which was approved by 82.6 % of the shareholders, is expected to be completed by June 18.
- Essar to take Algoma expansion forwardEssar Global will take over the expansion plans of Algoma Steel and pump in at least $500 million over the next three to four years to incr...
- It’s a win-win deal all the way for EssarThe Canadian plant will add significantly to the cold rolling capacities of the group. Algoma supplies nearly 15% of the total Canadian ste...
- Essar Global to take leveraged buyout route for Algoma buyCompany to set up Canada-based special purpose vehicle (SPV); Algoma’s management may be retained.
- Essar acquires Algoma Steel at $1.58 bnThis acquisition fits in Essar's vision of increasing the footprint
- JSW may be in race for Canadian steel coInternational reports named the Sajjan Jindal-led JSW Steel as one of the interested suitors, with Severstal and Evraz of Russia and Brazil...
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