Chief Executive Officer Armando Plastino commented on the quarter, "More aggressive cost control measures are required in light of the cyclicality of steel markets in combination with volatile input costs. We are confident that our employees and stakeholders are aware of this challenge and will continue working together to ensure a viable and sustainable business going forward."
A member of the Essar Group, Essar Steel Algoma Inc. is based in Sault Ste. Marie, Ontario. As a fully integrated steel producer, the Company derives its revenues primarily from the manufacture and sale of hot and cold rolled steel products including sheet and plate.