MAGA Steel still has eyes on Algoma, metals mogul Clarke says

Thomas Clarke’s MAGA Steel is still in the running to buy Canadian flat-rolled steelmaker Algoma, the US billionaire has told Metal Bulletin sister title AMM.

MAGA Steel was formed to acquire the steelmaker, which is based in Sault Ste Marie, Ontario. It has filed a purchase offer with the Ontario Superior Court of Justice and is actively involved in efforts to buy the company, Clarke said in an exclusive interview with AMM. “We have had very, very detailed meetings with management, we have toured the steel mill, and we are spending time working with the creditors and all other constituencies,” the Virginia native said. The “other constituencies” include the United Steelworkers trade union (USW), he added. An Algoma spokeswoman did not respond to AMM’s request for comment at...

Published

Michael Cowden

September 19, 2017

15:15 GMT