Last edited by Braramar
Wednesday, August 12, 2020 | History

2 edition of Worker ownership and the restructuring of Algoma Steel in the 1990s found in the catalog.

Worker ownership and the restructuring of Algoma Steel in the 1990s

Rob Nishman

Worker ownership and the restructuring of Algoma Steel in the 1990s

by Rob Nishman

  • 272 Want to read
  • 24 Currently reading

Published by IRC Press, Industrial Relations Centre, Queen"s University in Kingston, Ont .
Written in English

    Places:
  • Ontario,
  • Sault Ste. Marie
    • Subjects:
    • Algoma Steel Corporation -- Reorganization.,
    • Employee ownership -- Ontario -- Sault Ste. Marie -- Case studies.

    • Edition Notes

      Includes bibliographical references (p. 39-43).

      StatementRobert F. Nishman.
      SeriesCurrent issues series, Current issues series (Kingston, Ont.)
      ContributionsQueen"s University (Kingston, Ont.). Industrial Relations Centre.
      Classifications
      LC ClassificationsHD9524.C24 A447 1995
      The Physical Object
      Paginationvi, 43 p. ;
      Number of Pages43
      ID Numbers
      Open LibraryOL558574M
      ISBN 100888864264
      LC Control Number96141722

      ‘It’s been a long time since the appearance of so important a book on worker participation and the governance of enterprises. This book will immediately become the standard reference on worker ownership and management and is thoroughly recommended for both specialist and non-specialist alike.’ Algoma Steel, , press release.   Federal and provincial ministers announced financing assistance for new investments at Algoma Steel Inc. in Sault Ste. Marie, Ont. Thursday, as .

        Incidentally, Companhia Siderurgica Nacional of Brazil, which lost the race to Tata Steel, was also once linked to Algoma. “The Canadian company has gone through two court-protected restructuring since the s and had failed to find a buyer after putting itself up for sale in ,” says an industry insider. Essar Algoma -- Another CCAA Restructuring Deal Concocted Behind the Backs of Those Directly Affected. Term owners of debt in Essar Steel Algoma propose to seize and control the company and exit the Companies' Creditors Arrangement Act (CCAA) process anticipating a big score arising from concessions from steelworkers, pensioners, salaried employees and other creditors, and pay-the-rich.

        Today, under new ownership and the direction of a professional board of directors, Algoma Steel has a significantly improved balance sheet, offering financial stability, secure pensions, and.   Nishman, Robert F., Worker Ownership and the Restructuring of Algoma Steel in the s. Kingston, Ontario, Queen's University Industrial Relations Center, IRC Press, , 43 pp. Sharpe, Andrew, Work Re-organization in Canada: An Overview of Developments.


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Worker ownership and the restructuring of Algoma Steel in the 1990s by Rob Nishman Download PDF EPUB FB2

Worker ownership and the restructuring of Algoma Steel in the s. Kingston, Ont.: IRC Press, Industrial Relations Centre, Queen's University, © (OCoLC) Material Type: Government publication, State or province government publication: Document Type: Book: All Authors / Contributors: Rob Nishman; Queen's University (Kingston, Ont.).

Industrial Relations Centre. "Worker Ownership and the Restructuring of Algoma Steel in the s," Pap Queen's at Kingston - Sch.

of Indus. Relat. Current Issues Series. Current Issues Series. Handle: RePEc:fth:qkiris Algoma Steel Inc. (formerly Algoma Steel; Essar Steel Algoma) is an integrated primary steel producer located on the St. Marys River in Sault Ste.

Marie, Ontario, products are sold in Canada and the United States as well as overseas. Algoma Steel was founded in by Francis Clergue, an American entrepreneur who had settled in Sault Ste. arters: Sault Ste. Marie, Ontario, Canada.

"Worker Ownership and the Restructuring of Algoma Steel in the s," Pap Queen's at Kingston - Sch. of Indus.

Relat. Current Issues Series. Cited by: Graham, Cameron, "Fearful asymmetry: The consumption of accounting signs in the Algoma Steel pension bailout," Accounting, Organizations and Society, Elsevier, vol.

33(), pages Algoma Steel: Essar Global (India) $B: IPSCO: SSAB (Sweden) Algoma went through restructuring under court-ordered creditor protection in the s. Less than a year after emerging from a restructuring with help from its parent company, and after two previous bankruptcies, Algoma's debt is trading at.

Algoma Steel Inc. emerges from restructuring with the sale of substantially all of the Company’s assets, resulting in new ownership for the Company under the direction of a professional board of directors - alongside a commitment of a CDN $ million investment in the.

Algoma is a fully integrated steel producer based in Sault Ste. Marie, Ontario. We sell hot and cold rolled steel products including sheet and plate. Algoma Steel Inc. is a fully integrated steel producer.

We offer a wide range of hot and cold rolled steel sheet and plate products that meet the individual needs of. Algoma Steel Inc. announced that it has completed the purchase of Essar Steel Algoma Inc. assets, and has fully emerged from CCAA protection.

The new ownership says it. Essar Steel Algoma is moving for quick closing of a recapitalization arrangement that would transfer 78 per cent of the equity in a restructured Algoma to. Algoma Steel was formed in as a rail producer supplying the rapidly expanding Canad~an and United States railroads.

The Corporation was reorganized by Sir James Dunn in and began to expand its range of products. Today, Algoma is a fully integrated steel producer with five principal product lines consisting of sheet and strip, plate. The severe slowdown in the North American steel market in the s led to a restructuring of Algoma Steel in It finished a second restructuring in and recorded its most profitable year ever in Inthe company was acquired by Essar Steel Holdings Limited, a subsidiary of Essar Global, a diversified industrial company.

Algoma, which makes rolled steel for the auto, construction and manufacturing industries, has undergone two court-protected restructurings since the s, and previously put itself up for sale in. Worker ownership and the restructuring of Algoma Steel in the s / Robert F.

Nishman. HD C24 A45 Courage; the story of Sir James Dunn / Lor Beaverbrook. The Steel Construction Institute, Silwood Park, Ascot, Berkshire, SL5 7QN.

Telephone: +44 (0) Fax: +44 (0) Email: [email protected] Website: The European operations of Tata Steel comprise Europe's second largest steel producer. With main steelmaking operations in. Worker ownership and the restructuring of Algoma Steel in the s / Robert F.

Nishman. HD C24 A45 Courage; the story of Sir James Dunn / Lor Beaverbrook. HD C24 B38 Worker ownership and the restructuring of Algoma Steel in the s. Kingston, Ontario: Industrial Relations Centre, Queen's University.

Ontario Superior Court. Also at that time, Algoma's employees ended up owning 20 per cent of the steel company. As a result of the new ownership structure, three directors on the company's board are union representatives. Algoma seems to be a decent place to work.

It's a steel mill, its old, it's dirty, and it's hot. The place pays good for a reason (you will never find another job where you make so much and do so little). The downside to this company is the management, there is a distinct "wall" between management and workers on the floor.

Under new ownership and the direction of a professional board of directors, Algoma Steel has a significantly improved balance sheet, offering financial stability, secure pensions, and.

Many in Sault Ste. Marie remember the hiring freeze at the former Algoma Steel in the s, indicative of the tough economic times the company and the entire industry experienced.

"There was a gap of a year period when there was little hiring in the steel industry and we started hiring again in the early s.". The struggle for Algoma Steel’s future hinged on the meaning of these signs, and control of the ability to produce them was a crucial advantage for management, an asymmetry that was institutionalized in the market for financial information despite the partial ownership position of the workers and the huge claims on the company by the.

To become owners and to save the company from collapse, the 4, Algoma workers gave up 15 percent of their pay, which now averages $ .