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Algoma Steel Group Inc. Common Shares
As of May 30, 2026 at 24:05 UTC
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About Algoma Steel Group Inc. Common Shares
Algoma Steel Group Inc is a fully integrated steel producer of hot and cold rolled steel products, including coiled sheet and plate, strategically located. The firm operates in a single segment of basic steel production including sheets, plates, slabs, and freights. The company's revenue is generated from contracts to produce, ship, and deliver steel products Geographically it serves Canada, the United States, and the rest of the world, whilst driving key revenue from United States. The company generates the majority of its revenue from the sale of Steel sheets and strips.
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Latest News
5 articlesAlgoma Steel Group Inc. and Roshel Inc. have formed Roshel Algoma Defence Solutions Inc., a joint venture to establish a Canadian Centre of Excellence for Ballistic Steel Production. The partnership aims to deliver sovereign ballistic steel defence solutions with full-cycle capabilities including fabrication, forming, welding, and machining. The venture is positioned to support Canadian defence procurements including Light Utility Vehicles, the DAME program, and naval vessels, while creating over 500 manufacturing jobs.
Algoma Steel Group Inc. announced it will release its 2025 fourth quarter and full year financial results on March 11, 2026, followed by a webcast and conference call on March 12, 2026. The company continues its transition to electric arc furnace (EAF) steelmaking, which is expected to reduce carbon emissions by approximately 70% once fully transitioned.
Algoma Steel reported significant financial challenges in Q3 2025, including a $485.1 million net loss, impacted by U.S. trade tariffs and market headwinds. The company is accelerating its electric arc furnace transformation and secured $500 million in government liquidity support to navigate current market conditions.
Algoma Steel Group announces a planned leadership transition, with CFO Rajat Marwah succeeding Michael Garcia as CEO on January 1, 2026, as part of a comprehensive succession planning process. Michael Moraca will be promoted to CFO, marking a strategic leadership change for the company.
Algoma Steel reported a net loss of $110.6 million in Q2 2025, experiencing significant challenges from tariffs, weak steel market demand, and pricing pressures. The company achieved its first electric arc furnace steel production, marking a key milestone in its green steel transformation strategy.