Steel Mills
July 27, 2015
Essar Steel Algoma Announces Profitable FY 2015
Written by Sandy Williams
Essar Steel Algoma announced a return to profitability with income from operations of CDN $76.3 million at the closing of its fiscal year 2015 on March 31, 2015.
“Fiscal 2015 marked a turnaround for Essar Steel Algoma. Through the recently announced Modernization and Expansion Program, we expect to offer a much broader range of advanced steel grades over the next 36 months as we introduce best available technology” says Kalyan Ghosh, Chief Executive Officer of Essar Steel Algoma. “When combined with our return to profitability and low cost model, this investment will put us in a much stronger competitive position.”
