- Algoma Steel Group (ASTL) has awarded the structural building contract for its electric arc steel-making facility (EAF) to Walters Group
- Walters will be responsible for fabricating and erecting the main building structure in addition to the necessary dust collection hoods
- Walters will use Algoma’s steel plate products in the fabrication of the heavy structural components
- It will work with industrial contractor, SIS Manufacturing Inc., for the fabrication of these key elements
- On-site assembly of the building structure is expected to commence in the fall of 2022, with completion targeted within a year
- Algoma Steel Group Inc. (ASTL) started trading today at $12.88
Algoma Steel Group (ASTL) has awarded the structural building contract for its electric arc steel-making facility (EAF) to Ontario-based Walters Group Inc.
Walters will be responsible for fabricating and erecting the main building structure in addition to the necessary dust collection hoods.
In line with the terms of the fixed-priced contract, Walters will use Algoma’s steel plate products in the fabrication of the heavy structural components and will work with a local industrial contractor, SIS Manufacturing Inc., for the fabrication of these key elements.
On-site assembly of the building structure is expected to commence in the fall of 2022, with completion targeted within a year.
“Today’s announcement marks another significant milestone in our path to become Canada’s top producer of green steel,” noted Michael McQuade, Algoma’s Chief Executive Officer.
“Walters’ appreciation of our commitment to the Sault Ste. Marie community and partner-oriented model make it an ideal contractor to support Algoma’s transformative EAF project,” he added.
“We are both delighted and honoured to be selected by Algoma to build their new EAF facility in Sault Ste. Marie,” stated Peter Kranendonk, CEO of Walters.
“As an Ontario-based company, we welcome the opportunity to work with another Canadian icon on a project that is expected to drive a marked carbon reduction in the province we both call home,” he added.
Algoma is a fully integrated producer of hot and cold rolled steel products, including sheet and plate, with a current raw steel production capacity of an estimated 2.8 million tons per year.
Walters Group is a family-owned steel construction company that has been engaged in commercial and industrial projects throughout North America for over 65 years.
Algoma Steel Group Inc. (ASTL) started trading today at $12.88.
