Steel Mills
March 1, 2016
Supermill Merger for Canada?
Written by Sandy Williams
An Essar Steel Algoma and US Steel Canada combo may be in the works. Bloomberg reports that bidders for US Steel Canada are looking at combining the operations at Algoma with those at Hamilton and Lake Erie Works. The resulting steel company could become a major competitor in the North American steel market.
Potential bidders, according to Bloomberg, are Bedrock Industries, a New York firm focused on mining; Algoma’s parent company Essar, funded by Essar Capital Ltd.; and ERP Compliant Fuels.
