AltaSteel Inc.

Company Description

Our client, AltaSteel was founded in 1955 as Premier Steel Mills Ltd. Before 1955, all steel made in North America was made via blast furnace process from iron ore. However, by 1955, electricity generating facilities and distributing grids became massive enough to make electric furnace steelmaking practical and economical; Premier Steel Mills Ltd became the first steel mill in North America to use an electric arc furnace process to melt and refine scrap steel and then hot-roll the steel into final product shapes.

This process became known as the “mini-mill” process and represented perhaps the most significant step forward in steelmaking technology in the past 50 years. The mini mill process now accounts for over 60% of the steel produced in North America.  This pioneering effort was recognized in 2004 by the American Society of Materials (ASM), which honoured the AltaSteel facility by designating it as an historical landmark.

In 2011, Arrium Limited (formerly known as OneSteel) acquired AltaSteel and merged the business with its international Moly-Cop Group of companies.  In 2017 American Industrial Partners (AIP) acquired the MolyCop Group of companies including AltaSteel Ltd. and changed the name of the legal entity to MolyCop AltaSteel Ltd.; however, continuing to do business as AltaSteel.  In 2020 AltaSteel was acquired by Kyoei Steel Ltd. who subsequently changed the name of the legal entity to AltaSteel Inc.

AltaSteel is a producer of rolled steel long products for the mining, construction, automotive and engineering industries. Based in Edmonton, Alberta the company operates steelmaking, hot rolling and heat treatment facilities and has an installed production capacity in excess of 330,000 net tons/year.  Our client has been operating since 1955, and currently employs approximately 360 people on their team.

For further information on the AltaSteel Inc., please visit their website at www.altasteel.com.