ASI plans sale of tube mill.
| Position | The Way It Is |
Algoma Steel Inc. (ASI) is planning to sell its seamless tube mill, a plan that could net $12.5 million for the company.
The company is planning on selling it to Algoma Tubes, a subsidiary of Tenaris S.A., which has leased land and manufacturing facilities from ASI since the summer of 2000. The money will go to reduce ASI debt and increase its liquidity.
Several conditions are attached to the proposed sale, including various federal government...
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