SAULT STE. MARIE, ON, April 4, 2016 /PRNewswire/ - Essar Steel Algoma Inc. reports it has received several bids as of close of the first phase in the Sale and Investment Solicitation Process (SISP), on Friday, April 1, 2016. The Company has now advanced into Phase Two of the process; closing deadline to be determined.
Essar Steel Algoma Inc. filed for creditor protection under the Companies Creditors Arrangement Act on November 9, 2015. The Sale and Investment Solicitation Process was launched on February 11, 2016. Relevant documents, including the SISP Order and the SISP Process Outline can be found on the Monitor's website at www.ey.com/ca/essaralgoma and on the Prime Clerk website at http://cases.primeclerk.com/EssarSteel.
Essar Steel Algoma Inc.
Essar Steel Algoma Inc. is based in Sault Ste. Marie, Ontario. As a fully integrated steel producer, the Company derives its revenues primarily from the manufacture and sale of hot and cold rolled steel products including sheet and plate.
SOURCE Essar Steel Algoma Inc.