Algoma Steel Corporation was founded in 1902 by Francis Clergue, an American entrepreneur who had settled in Sault Ste. Marie, Ontario. At the height of the Great Depression, the company was insolvent until Sir James Dunn gained control in 1935 and restored it to profitability. 1902 (MCMII) was a common year starting on Wednesday (see link for calendar). ... Francis Hector Clergue (born August 28, 1856 - died January 19, 1939) was an American businessman who became the leading industrialist of Sault Sainte Marie, Ontario, Canada at the turn of the 20th Century. ... Sault Ste. ... The Great Depression was a massive global economic recession (or depression) that ran from 1929 to approximately 1939. ... Sir James Hamet Dunn, born October 29, 1874 - died January 1, 1956, was an major Canadian financier and industrialist during the first half of the 20th Century. ...

Competition from low-cost Asian countries and dumping by Japanese companies has hurt Canadian steel producers. In 2004, the company emerged from bankruptcy protection and is the third largest steel producer in Canada (behind Dofasco and Stelco). Algoma Steel is the largest employer in Sault Ste. Marie and currently has 2900 employees at the main plant. World map showing Asia (geographically) Asia is the central and eastern part of Eurasia, and the worlds largest continent. ... Dofasco TSX: DFS is a steel company based in Hamilton, Ontario, Canada, as is longtime rival Stelco. ... Stelco is a steel company based in Hamilton, Ontario, Canada, as is longtime rival Dofasco. ...

Algoma Steel is responsible mainly for producing plate and sheet type steel which is its main money maker along with its blanking operations and welded beams. The welded beam division is not attached onto the main plant and is located about one kilometre away from the plant in a different geographical location. In 2004, Algoma entered into the process of purchasing Stelco, which is based in Hamilton, Ontario. The company has since withdrawn with its intentions to purchase Stelco and run the two companies as one large integrated producer. The announcement was made on February 9, 2005 after the quarter four report of a record profit. Algoma cited risk as the reason for its withdrawal. 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Stelco is a steel company based in Hamilton, Ontario, Canada, as is longtime rival Dofasco. ... Motto: Together Aspire - Together Achieve Area: 1,117. ... February 9 is the 40th day of the year in the Gregorian Calendar. ... 2005 (MMV) is a common year starting on Saturday of the Gregorian calendar. ...

Algoma Steel announced on August 3, 2005 that the company was no longer for sale after a $64.7 million dollar second quarter profit. The company stated that they are going to focus on value-enhancing, non-sale alternatives. Algoma also announced a special dividend of $6.00 per share payable on August 31, 2005 to shareholders of record on August 17, 2005 and a normal course issuer bid for up to 3.3 million shares. August 3 is the 215th day of the year in the Gregorian Calendar (216th in leap years), with 150 days remaining. ... 2005 (MMV) is a common year starting on Saturday of the Gregorian calendar. ... August 31 is the 243rd day of the year in the Gregorian calendar (244th in leap years), with 122 days remaining, as the final day of August. ... 2005 (MMV) is a common year starting on Saturday of the Gregorian calendar. ... August 17 is the 229th day of the year (230th in leap years) in the Gregorian Calendar. ... 2005 (MMV) is a common year starting on Saturday of the Gregorian calendar. ...

Algoma Steel is located at the hub of the Great Lakes in Sault Ste. Marie, Ontario and distributes its steel products to Canada and the United States. Algoma Steel is continuing operations since emerging from bankruptcy protection.