Name and Brand Change for Local Steelmaker

In the midst of a court protected restructuring, Essar Steel Algoma has decided to open a new chapter for the over 100-year old steelmaker.
The company announced late this morning in front of a number of local dignataries that the company will be returning to its roots through a name change and brand.
Here’s company CEO Kalyan Ghosh making the announcement at the Number 2 Gate…

Ghosh says Algoma is synonymous with the region and it is only natural and right that they return to their roots as they lay a foundation for their future.
It’s hoped that future includes a new buyer and Ghosh says he’s hoping the preferred purchaser will be supportive of the move…

The steel plant is going through a 3rd restructuring through the Companies Creditors Arrangement Act and has been under creditor protection in this latest restructuring since November of 2015.