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Essar

Essar Steel is a global steel producer with a footprint in India, Canada, USA, the Middle East and Asia. It has an annual capacity of 14 million tonnes, and aims to achieve a global capacity of 20-25 million tonnes. It has a significant presence in the key markets of Asia, Europe, Africa and North America. The company has specialized plants for value-added steel products such as pipes and plates and has a leadership position in the cold rolling, galvanizing and pre-coated segments.

Latest News

Investment Firm Drops Plan to Acquire Canadian Steelmakers

14 Jul 2016 - A New York-based private equity firm has backed out of a deal to buy Canada’s Essar Steel Algoma and reportedly has dropped a separate bid for another major Canadian steelmaker, U. S. Steel Canada.

Steelworkers Union Rebuffs Would-Be Acquirer of Essar Algoma, Backs Competing Offer

12 Jul 2016 - The United Steelworkers union said it will not support Essar Steel Algoma’s tentative sale to a private equity firm and instead is pushing for an alternate deal, one with the steelmaker’s former owner.

Lenders to Begin Looking at Restructuring Essar Steel Ltd. Debt

05 Jul 2016 - India’s indebted Essar Steel Ltd. has failed to find a taker for a majority stake in the business, and now its lenders are moving to begin debt restructuring talks, reports Indian business publication Mint.

Report: USSC Rejects Essar Global Offer, Two Remain in the Running

28 Jun 2016 - Essar Global, which last month was disqualified to bid on Canada’s Essar Steel Algoma, reportedly has been dropped as a U.S. Steel Canada suitor as well, according to The Hamilton Spectator newspaper.

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