The CEO of Algoma Steel says he recognized the need to accelerate the company’s plan to lower its costs well before tariffs came into play, as the company plans to let go of more than 1,000 workers.
Michael Garcia says in a statement that the strategy includes transitioning to electric arc furnace steelmaking, closing its blast furnace and coke-making operations early next year, as well as reshaping its product mix to better align with the demand of the Canadian market.
