Algoma Steel incurs Q3 net loss of $84.8M, up from $69.8M, amid revenue increase and imminent production restoration after plant collapse.

Algoma Steel Group Inc. reported a net loss of $84.8 million for the third quarter, higher than the previous year's net loss of $69.8 million. The company, based in Sault Ste. Marie, Ont., saw revenues rise to $615.4 million compared to $567.8 million during the same quarter last year. Despite facing challenges, including a structure collapse in its plant, Algoma Steel aims to restore full production within the next few weeks.

February 06, 2024
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