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Algoma Steel Group Inc
Symbol ASTL
Shares Issued 104,933,802
Close 2025-12-24 C$ 5.72
Market Cap C$ 600,221,347
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Globe/CP say Algoma Steel targeted for defence spending

2025-12-29 08:43 ET - In the News

The Globe and Mail reports in its Monday edition that in a year that began with the United States upending global trading relationships, Ontario's Economic Development Minister travelled the world in search of new ties and has zeroed in on defence as a way to steady the ship into next year and beyond. A Canadian Press dispatch to The Globe says Mr. Fedeli -- informally dubbed Ontario's chief salesman -- flew to 20 countries this year seeking to strengthen ties and forge new ones. Mr. Fedeli is looking to secure new production in the province from foreign companies and help open new markets for existing Ontario defence manufacturers, but he also aims to boost domestic production. The province and federal government see an opportunity, for example, at Algoma Steel. A flurry of defence spending is expected in the near future, including the European Union's $1.3-trillion ReArm Europe plan, and a lot of steel will be needed to meet those demands. They have a plan for a second steel plate line and to make I-beams for infrastructure. "We're working with the feds and Algoma in a three-way partnership to fund these two things that are going to be really permanent additions to Algoma and hire back lots and lots of people."

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