SAULT STE. MARIE, Ont.—Taking a page out of fellow Ontario steel producer Stelco’s playbook, Sault Ste. Marie, Ont. steel firm Essar Steel Algoma Inc. is cutting ties with the Essar Steel banner.
The company said May 26 it is rebranding simply as Algoma—a decade after it was acquired by India’s Essar Group.
“Algoma is synonymous with the region. We are a part of the community as much as the community is a part of us,” Kalyan Ghosh, the company’s CEO, said in a statement.
“Our company and community are proud of the name Algoma, a name that has always been associated with steel. It was only natural to return to our roots,” he added.
The move follows a similar symbolic shift at southern Ontario steel firm Stelco last year. The Hamilton and Nanticoke, Ont. steel company had been operating under the U.S. Steel Canada label for 10 years before hoisting Stelco flags in an effort to revive its original brand last December.
Stelco and Algoma have been operating under creditor protection since 2014 and 2015 respectively as they work to restructure.