01:19:09 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 146,384,819
Close 2022-08-10 C$ 12.00
Market Cap C$ 1,756,617,828
Recent Sedar Documents

Globe says Algoma, Stelco hear Evraz to sell N.A. ops

2022-08-11 08:06 ET - In the News

Also In the News (C-STLC) Stelco Holdings Inc

The Globe and Mail reports in its Thursday edition that Evraz PLC is looking to sell its Canadian and U.S. operations as the Russian steelmaker struggles with the fallout from Moscow's invasion of Ukraine, which includes sanctions against the company and its major shareholder, Roman Abramovich. The Globe's Jeffrey Jones writes that Evraz said in a statement Wednesday it would solicit proposals for the North American operations, which include steel plants in Alberta and Saskatchewan that serve the oil and gas industry. The Canadian business employs 1,800 people and Evraz has another 1,400 workers in the U.S., where it has plants in Oregon and Colorado and a head office in Chicago. A sale would allow the company to "unlock the stand-alone value of the North America business," Evraz said in the statement. The company did not respond to a request for details. In March, weeks after Russian troops invaded Ukraine, Canada imposed sanctions on Mr. Abramovich as a crony of Russian President Vladimir Putin. "Recent geopolitical tensions have given rise to significant corporate governance and operating challenges for Evraz," chief executive officer Aleksey Ivanov said in a statement with Evraz's financials earlier this month.

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