Algoma Steel to Announce Fiscal 2023 Second Quarter Results November 7, 2022
26 Oktober 2022 - 11:30PM
Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a
leading Canadian producer of hot and cold rolled steel sheet and
plate products, announced today that Algoma will release its fiscal
2023 second quarter financial results after the market closes on
Monday, November 7, 2022. A webcast and conference call will be
held on Tuesday, November 8, 2022 at 11:00 a.m. Eastern Time to
review Algoma’s results, discuss recent events, and conduct a
question-and-answer session.
The live webcast and archived replay of the
conference call can be accessed on the Investors section of
Algoma’s website at www.algoma.com. For those unable to access the
webcast, the conference call will be accessible domestically or
internationally by dialing 877-425-9470 or 201-389-0878,
respectively. Upon dialing in, please request to join the Algoma
Steel Fiscal Second Quarter Conference Call. To access the replay
of the call, dial 844-512-2921 (domestic) or 412-317-6671
(international) with passcode 13733046.
Cautionary Statement Regarding
Forward-Looking Statements
This news release contains “forward-looking
information” under applicable Canadian securities legislation and
“forward-looking statements” within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 (collectively,
“forward-looking statements”), including statements regarding
Algoma’s transition to electric arc steelmaking, its future as a
leading producer of green steel, and Algoma’s expected enhanced
long-term profitability, cost-cutting initiatives, modernization of
its plate mill facilities, transformation journey, investment in
its people, processes, optimization and modernization, and growing
capability and courage to meet the industry’s challenges. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “pipeline,” “may,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result,” and similar expressions. Forward-looking statements are
predictions, projections, and other statements about future
events that are based on current expectations and assumptions. Many
factors could cause actual future events to differ materially from
the forward-looking statements in this document. Readers should
consider the risks and uncertainties set forth in the section
entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in Algoma’s Annual Report on Form 20-F,
filed by Algoma with the Ontario Securities Commission (the “OSC”)
(available under the company’s SEDAR profile at www.sedar.com)
and with the Securities and Exchange Commission (the “SEC”)
(available at www.sec.gov), as well as in Algoma’s current
reports with the OSC and SEC. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Algoma assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
About Algoma Steel Group
Inc.
Based in Sault Ste. Marie, Ontario, Canada,
Algoma is a fully integrated producer of hot and cold rolled steel
products including sheet and plate. With a current raw steel
production capacity of an estimated 2.8 million tons per year,
Algoma’s size and diverse capabilities enable it to deliver
responsive, customer-driven product solutions straight from the
ladle to direct applications in the automotive, construction,
energy, defense, and manufacturing sectors. Algoma is a key
supplier of steel products to customers in Canada and Midwest USA
and is the only producer of plate steel products in Canada. The
Company’s mill is one of the lowest cost producers of hot rolled
steel coil (HRC) in North America owing in part to its
state-of-the-art Direct Strip Production Complex (“DSPC”), which is
the newest thin slab caster in North America with direct coupling
to a basic oxygen furnace (BOF) melt shop.
Algoma has achieved several meaningful
improvements over the last several years that are expected to
result in enhanced long-term profitability for the business. Having
upgraded its DSPC facility and recently installed its No. 2 Ladle
Metallurgy Furnace, Algoma is on a transformational journey,
modernizing its plate mill facilities and transitioning to electric
arc steelmaking, securing its future as a leading producer of green
steel.
Today Algoma is returning to its roots as a
customer-focused, entrepreneurial company with the courage and
growing capability to meet the industry’s challenges head-on. It is
investing in its people and processes, optimizing and modernizing
so that it might continue to be your partner in steel.
For more information, please contact:
Mike MoracaTreasurer and Investor Relations
OfficerAlgoma Steel Inc. Phone:
705.945.3300E-mail: IR@algoma.com
Algoma Steel (TSX:ASTL)
Historical Stock Chart
Von Feb 2024 bis Mär 2024
Algoma Steel (TSX:ASTL)
Historical Stock Chart
Von Mär 2023 bis Mär 2024