The much anticipated “new chapter” for Essar Steel Algoma is a rebranding exercise. The Sault Ste. Marie
The Sault Ste. Marie steelmaker announced May 26 that it’s ditching “Essar” for the company name and will be “returning to its roots” by becoming simply “Algoma.”
The name change was made at a ceremony at the plant’s No. 2 gate.
“Algoma is synonymous with the region. We are a part of the community as much as the community is a part of us,” said Kalyan Ghosh, chief executive officer in a news release.
“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.”
The Northern Ontario producer of plate and sheet steel products is currently under creditor protection.
For legal and financial reasons, the company will remain Essar Steel Algoma for the balance of the restructuring process.
A company news release said the “rebranding harkens back to variations of the company’s name since it opened in 1901, and aims to reflect a long legacy of delivering top-quality steel products and service.”
“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,” added Ghosh.