A worker is shown at Algoma Steel in Sault Ste. Marie, Ontario on April 25, 2025. The Canadian Press/Sean Kilpatrick
A day after his company announced plans to let go of more than 1,000 workers, the CEO of Algoma Steel said Tuesday he recognized the need to accelerate the company’s plan to lower its costs well before U.S. tariffs came into play.
Michael Garcia said in a media statement the strategy includes transitioning to electric arc furnace steelmaking, closing its blast furnace and coke-making operations early next year, and reshaping its product mix to better align with the demands of the Canadian market.
