Essar Steel Algoma to Receive Liquidity Support from Parent Companies
04/18/2013 - Essar Steel Algoma Inc. announced that its parent companies will, in the aggregate, provide US$50 million of credit support to reinforce the company's liquidity position.
Essar Steel Algoma Inc. announced that its parent companies will, in the aggregate, provide US$50 million of credit support to reinforce the company's liquidity position.
The company is seeking an amendment from the lenders under its September 2012 Credit Agreement to allow for access to the funds as required.
Essar Steel Algoma Inc. is based in Sault Ste. Marie, Ontario. Revenues are derived primarily from the manufacture and sale of rolled steel products, including hot and cold rolled sheet and plate.
