Essar Steel Algoma Inc. (“Essar Steel Algoma” or the “Company”) advised today that at the request of the Honourable Mr. Warren Winkler, the mediator appointed by Justice Newbould of the Ontario Superior Court of Justice, the company has not requested a No Board Report.
Mr. Winkler has scheduled dates later this month for mediation amongst the parties, specifically the company, the successful bidder identified through the court-approved
Sale and Investment Solicitation Process, and representatives of the union.
Essar Steel Algoma Chief Executive Officer Kalyan Ghosh commented on the development,
“Our focus is on emerging from CCAA as a strong and sustainable advanced steel
manufacturer. We remain optimistic that a deal can be achieved among all stakeholders that
ensures this outcome.”