Steel Mills
Algoma: New Brand, New Path
Written by Sandy Williams
May 30, 2017
Essar Steel Algoma announced on Friday, May 26 that the company will now be known as Algoma. The rebranding was revealed during a ceremony at the St. Mary’s River facility to mark a new chapter in Algoma’s history.
“Effective immediately, we will have a new name, a new brand, a new path and a renewed spirit,” said Kalyan Ghosh, Chief Executive Officer. “Effective today, we are Algoma.”
“Algoma is synonymous with the region. We are a part of the community as much as the community is a part of us,” said Ghosh. “Our company and community are proud of the name Algoma, a name that has always been associated with steel. It was only natural to return to our roots as we lay a foundation for our future.”
“We are proud of what we’ve accomplished, and we are excited for the future. We will continue to be innovative, tenacious and responsive. It is time for us to set a course for a strong future as a reliable supplier, and to focus on what we do best: making exceptional quality steel.” said Ghosh.
Mayor Christian Provenzano, attending the ceremony, said, “The history of Algoma is directly tied to the history of this community.” He added, “We recognize we are dealing with a challenging times in our community and we will meet that time by sticking together. I wish the company the best in the next chapter of its history.”
Brenda Stenta, Manager of Corporate Communication, explained the significance of the new logo.
“Our new branding and logo strike a balance between honoring our past and looking to our future. It represents our strong ties to Northern Ontario where our unique geography and environment play a major role in our everyday lives. The blue represents the waterways and the green our beautiful natural environment. From shipping our product on the Great Lakes to enjoying outdoor activities with our families, we take pride in where we work and live. The “A” is a modern take on our company’s history, bringing everything together to symbolize the strength and endurance of our people. While our name is changing we remain committed to carrying on our proven reputation for quality innovation and creative solutions .”
Stenta went on to recognize the toll the “complicated, often lengthy process” of restructuring has had on everyone involved. “We will continue to do business under CCAA but from this day forward we will be doing business as Algoma. This is a new era for us and one that we are all a part of.”
Algoma, located in Sault Ste. Marie, Ontario, filed for creditor protection under the Company’s Creditors Arrangement Act on Nov. 9, 2015. The Sale and Investment Solicitation Process was launched on Feb. 11, 2016 and is ongoing. The company will continue as Essar Steel Algoma for financial and legal purposes during the remaining restructuring period but will operate day-to-day business under its new name.
Sandy Williams
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