Algoma to close mills, cut 800 jobs
Article Abstract:
Algoma Steel Inc has announced a loss of C$59.1 million on a revenue of C$1.27 billion for the FY98, from a profit of C$51.9 million on $1.26 in FY97. The company said that the loss was caused in part by declining sales and lower selling prices for key products as a result of dumping of steel imports into Canada. To improve its bottomline, Algoma announced that it lay off 800 workers, shut down two steel mills and discontinue its steel pipe and structural steel operations.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Deals push quiet EdperBrascan firm into spotlight
Article Abstract:
EdperBrascan Corp is being put into the spotlight with recent deals that involve its lending and finance subsidiary, Trilon Financial Corp. EdperBrascan owns 65% of Trilon, which is the main lender to Royal Oak Mines Inc, which recently file for bankruptcy protection. Trilon is also set to shell out C$40 million to buy out the public shareholders of Royal LePage Ltd, a real estate brokerage 55%-controlled by Trilon.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Comment about this article or add new information about this topic:
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