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Algoma losses.

Algoma Steel Corp. reported a $69.9-million loss for the first half of the year. The loss was $4.2-million more than the loss reported during the first half of 1990. Algoma attributed the result to a weak market for steel, a strong Canadian dollar and the difficulty of resuming operations and re-entering markets following last year's strike/lock out. The company announced that at least 200 employees of its No. 2 tube mill will be laid off this month unless orders pick up. The mill has enough orders to operate until Nov. 8. If no new orders are found before Dec. 13, the No. 1 mill could also be closed, affecting 400 additional workers.
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Title Annotation:Around the North; Algoma Steel Corporation Ltd.
Publication:Northern Ontario Business
Article Type:Brief Article
Date:Nov 1, 1991
Words:115
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