Algoma Steel statement on tentative pact

NEWS RELEASE ALGOMA STEEL ************************* Algoma Steel and USW Local 2251 reach tentative agreement SAULT STE. MARIE, ON - Algoma Steel Inc.

NEWS RELEASE

ALGOMA STEEL

************************* Algoma Steel and USW Local 2251 reach tentative agreement SAULT STE. MARIE, ON - Algoma Steel Inc. is pleased to announce that it has reached a tentative agreement with United Steelworker Local 2251, the bargaining unit for its hourly employees.

The current collective agreement, which expires at midnight on July 3l, will be extended to provide sufficient time for a vote to occur.

No further details will be released until Local 2251 has had an opportunity to meet with their members.

A member of the Essar Group, Algoma Steel inc. is based in Sault Ste. Marie, Ontario.

As a fully integrated steel producer, Algoma's 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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