Algoma Steel Marks EAF Milestone, Expects Strong Shipments as Director Resigns
Algoma Steel Group Inc. has announced a significant resignation and promising production milestones. David Sgro has stepped down from the board for personal reasons, while the company reports successful steel production and expects substantial shipments.
Algoma Steel Group Inc. recently achieved a notable feat in its production process. In July 2025, the company successfully produced its first arc and first steel from its electric arc furnace (EAF). This marks a significant step forward in the company's operations.
The company has also provided updates on its market focus and production expectations. Algoma is prioritizing the Canadian market, offering a focused plate and coil product mix to meet local demand. Looking ahead, Algoma Steel Group Inc. anticipates total steel shipments for the quarter ending September 30, 2025, to range between 415,000 and 420,000 net tons.
In a recent development, David Sgro has resigned from the board of directors of Algoma Steel Group Inc. for personal reasons. Andy Harshaw, the Chair of the Board, acknowledged Sgro's lasting impact and valuable contributions during his tenure.
Algoma Steel Group Inc. expects Adjusted EBITDA for the quarter ending September 30, 2025, to be negative $80 million to negative $90 million. Despite this, the company's successful production milestones and focused market strategy indicate a commitment to growth and adaptation in the steel industry.
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