Algoma Signs Letter of Intent to Sell Seamless Tube Mill.Business Editors SAULT STE. MARIE Sault Sainte Marie — pronounced "Soo Saint Marie" (IPA /su seɪnt məˈɹi/) — is the name of two cities on the Saint Marys River, which forms part of the boundary between the United States and Canada. , Ontario--(BUSINESS WIRE)--May 23, 2003 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. announced today that it has signed a letter of intent with Algoma Tubes, Inc., a Canadian subsidiary of Tenaris SA, relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the sale of tube manufacturing facilities located in Sault Ste. Marie and currently leased to Algoma Tubes, Inc. The sale for $12.5 million Canadian is scheduled to be completed by year-end but remains subject to a number of conditions and approvals. This sale is part of Algoma's program to reduce debt and improve liquidity. Algoma expects to realize a total of about $15 million from the disposition of surplus assets in 2003. Algoma Steel Inc. is an integrated steel producer based in Sault Ste. Marie, Ontario For the city of Sault Ste. Marie in Michigan, or the Canadian federal and provincial electoral districts of the same name, see: Sault Ste. Marie. Sault Ste. Marie (nicknamed "the Sault" or "the Soo") is a city on the St. Marys River in Ontario, Canada. . Revenues are derived primarily from the manufacture and sale of rolled steel products, including hot and cold rolled sheet and plate. |
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