Grants and Contributions:

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Title:

Threading Capability and Plant Automation Upgrade

Agreement Number:

813544

Agreement Value:

$14,706,000.00

Agreement Date:

Aug 7, 2019 - Jan 1, 2031

Description:

This project will aim to support Canada’s Steel and Aluminum sector by improving the product capabilities and operational performance for Algoma Tubes.

Organization:

Innovation, Science and Economic Development Canada

Expected Results:

As a result of the project, the company will be able to supply the Canadian market with more sustainable, reliable, cost-effective products. The company will also expand its product capabilities, which will allow them to better serve Canada’s energy sector and meet market demand. This project will create 144 new full-time positions.

Location:

Sault Ste. Marie, Ontario, CA P6C1L9

Reference Number:

230-2021-2022-Q1-0144

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Business Number:

870995321

Recipient Type:

For-profit organization

Additional Information:

The Amendment has been completed to extend the project agreement end date from 2030-01-01 to 2031-01-01, and reduce the contribution amount from $16M to $14.7. This is a partially repayable contribution.

Amendment Date

May 12, 2021

Recipient's Operating Name:

Algoma Tubes Inc

Recipient's Legal Name:

Algoma Tubes Inc

Federal Riding Name:

Sault Ste. Marie

Federal Riding Number:

35092

Program:

SIF - Steel and Aluminum Program

Program Purpose:

The Strategic Innovation Fund (SIF) attracts and supports new high-quality business investments. In allocating funding, SIF looks to accelerate areas of economic strength, strengthen and expand the role of Canadian firms in regional and global supply chains, support economic strategies, and attract investment that creates new, good, well-paying jobs.

Amendments:

See Amendments