05:58:55 EDT Mon 07 Jul 2025
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 104,883,802
Close 2025-03-28 C$ 8.20
Market Cap C$ 860,047,176
Recent Sedar Documents

Globe says Algoma Steel braces for nasty trade fight

2025-03-31 06:13 ET - In the News

The Globe and Mail reports in its Saturday edition that more than 30 years ago, Algoma chief executive officer Michael Garcia was serving in the U.S. military in the 1990-91 Gulf War. The Globe's Niall McGee writes that Mr. Garcia, who grew up in an Arizona mining town, served in the U.S. Army from 1986 to 1991, holding various roles, including tank platoon leader. Even though he was willing to put his life on the line for the U.S., Mr. Garcia has no problem defending Canada. He moved to Sault Ste. Marie, Ont., after becoming CEO of Algoma in 2022. Mr. Garcia views Mr. Trump's threat to make Canada the 51st state as destabilizing and his trade war as a flawed strategy. "As an American running a Canadian company, the good thing is I don't feel a shred of conflict," he told The Globe. The border city of Sault Ste Marie depends on Algoma's fortunes. This latest Trump tariff crisis strikes at a particularly inopportune time for Algoma. After a multiyear design, procurement and construction phase, next month it will debut its electric arc furnace technology, a fundamental change in how it makes steel. EAFs use scrap steel and massive amounts of electricity, and will replace the highly polluting blast furnace and coke ovens.

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