ASI plans sale of tube mill. (The Way It Is).Algoma Steel ''See also Algoma (Disambiguation) Algoma Steel Corporation (TSX: AGA) was founded in 1902 by Francis Clergue, an American entrepreneur who had settled in Sault Ste. Marie, Ontario. Inc. (ASI ASI, n See Anxiety Sensitivity Index. ) is planning to sell its seamless tube mill, a plan that could net $12.5 million for the company. The company is planning on selling it to Algoma Tubes, a subsidiary of Tenaris S.A., which has leased land and manufacturing facilities from ASI since the summer of 2000. The money will go to reduce ASI debt and increase its liquidity. Several conditions are attached to the proposed sale, including various federal government approvals and the reaching of a contract agreement with the United Steelworkers United Steelworkers (USW) historic labour union representing workers in steel, aluminum, and other metallurgical industries for much of the 20th century. In the U.S. of America. Algoma Tubes employs about 320 unionized production and service personnel. Their contract expired ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. May 31. |
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