Essar Steel Algoma Commences Sale and Investment Solicitation Process

SAULT STE. MARIE, ON, Feb. 11, 2016 /CNW/ - Effective immediately, pursuant to an order by the Ontario Superior Court of Justice of Ontario on February 11, 2016, Essar Steel Algoma Inc. is commencing a Sales and Investment Solicitation Process (SISP).

The Sale and Investment Solicitation Process is intended to assist Essar Steel Algoma in pursuing all avenues for a sale, restructuring or recapitalization of the business and property, in whole or in part, which is deemed essential for the company to remain a going concern for the benefit of all stakeholders. The Process is designed to be as flexible as possible considering the expected complexity of the process, the assets at stake, the interests of the many different stakeholders and market conditions.

Relevant documents, including the SISP Order and the SISP Process Outline can be found on the Monitor's website at and on the Prime Clerk website at  Parties interested in receiving a Solicitation Package are invited to contact the company's financial advisors, Evercore Group LLC at

About Essar Steel Algoma Inc.

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. Founded in 1901 as Algoma Steel, the company was acquired in June 2007 by Essar Steel Holdings Limited. Its products are sold to customers in the automotive, light manufacturing, construction, shipbuilding, energy, mining and steel distribution industries. On November 9, 2016 the company sought and received protection under the Companies' Creditors Arrangement Act. For more information, please visit

SOURCE Essar Steel Algoma Inc.

For further information: Company Contact: Brenda Stenta, Manager Corporate Communications, Phone: +1.705.945.2209, E-mail:


Organization Profile

Essar Steel Algoma Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890