Canadian Steelmaker Algoma Acquired by India's Essar

May 2007
Metal Center News;May2007, Vol. 47 Issue 6, p44
Trade Publication
The article reports on the acquisition of Essar Steel Holdings Ltd. of Algoma Steel Inc. in Canada. According to reports, Essar will pay about $56 per share for all of the common shares of Algoma. It was believed that the acquisition fits in Essar's global steel vision of having world-class low-cost assets, and that Algoma is an excellent addition to the existing steel business of Essar, thus, offering potential growth.


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