Algoma Steel Group Inc. operates as a leading North American manufacturer of hot and cold rolled steel products, with its primary manufacturing facility located on the Great Lakes in Sault Ste. Marie, Ontario. The company's business model centers on the production of basic steel products, including sheet and plate steel, which are sold primarily to customers in the United States and Canada. Algoma's product portfolio includes hot rolled coil (HRC), cold rolled sheet, and discrete plate, making it the sole producer of discrete plate steel in Canada. The company serves a diverse range of end markets, including the automotive, construction, energy, defense, and manufacturing industries. Algoma operates as a single reportable segment focused on basic steel production, generating the vast majority of its revenue from the sale of steel sheets and strips. A key strategic initiative for the company is its ongoing transition from traditional blast furnace steelmaking to electric arc furnace (EAF) technology, a transformation aimed at reducing its carbon footprint by approximately 70% and improving long-term cost competitiveness.
