07
Feb
20:19
Essar Algoma receives further financing extension
Bankrupt flat-rolled steelmaker Essar Steel Algoma of Sault Ste. Marie, Ontario, has received a court extension for its debtor-in-possession financing facility through March 31.
Essar furthermore retains the option to extend its financing facility for a further 30 days, as well, Kallanish reports.
"Although the company fully expects to generate sufficient funds for operating expenses during the extension period, we have not yet been successful in complet…
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Very good overview of the weekly steel market.
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