Supplied by Algoma Steel…
SAULT STE. MARIE, Ont. — As a result of COVID-19 market impacts, Algoma Steel Inc.
(Algoma Steel) announced today the Company will be adjusting production to match current demand
and to curtail costs. A market recovery is not anticipated in the near-term, and market conditions
remain unstable. Therefore Algoma Steel is taking appropriate measures to ensure the Company
continues to have the financial resilience and resources required, while maintaining reliable supply
and product quality for Algoma’s customers.
Effective immediately Algoma Steel will commence temporary layoff proceedings impacting
approximately 70 full time hourly and salaried personnel from across the operation. A further 80-90
employees will displace full and part-time contract personnel. Chief Executive Officer Michael
McQuade advised, “We have taken this difficult decision to prudently sustain our financial strength
during this ongoing period of broad economic and market instability, as economies continue to be
affected by COVID-19 and related measures. As a steel producer, we are an essential service and
we do not take that responsibility lightly. We continue to serve the needs of our customers by
delivering quality steel products. Our first priority is to operate safely, ensuring the wellbeing of
everyone in our workplace. We recognize the impact of this decision on our employees, their
families, and the community. Algoma Steel will continue to monitor market conditions closely, and
may make further adjustments as the business may require. We are taking a responsible approach
today to ensure the sustainability of Algoma Steel tomorrow.”

About Algoma Steel Inc.:
Based in Sault Ste. Marie, Ont. Algoma Steel Inc. is a fully integrated steel producer of hot and cold
rolled steel products including sheet and plate. With a production capacity of an estimated 2.8 million
tons per year, Algoma Steel’s size and diverse capabilities enable it to deliver responsive, customerdriven product solutions straight from the ladle to direct applications in the automotive, construction,
energy, defense and manufacturing sectors.
Today Algoma Steel is on a course of action, returning to its roots as a customer-focused,
entrepreneurial company with the courage and growing capability to meet the industry’s challenges
head-on. It is investing in its people and processes, optimizing and modernizing so that it might
continue to be your partner in steel.