Industry Shipping Website www.algonet.com Founded 1990 Type of business Public | Key people Greg D. Wight Headquarters St. Catharines, Canada Number of employees 1,400 | |
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Stock price ALC (TSE) CA$ 12.75 0.00 (0.00%)24 Feb, 4:00 PM GMT-5 - Disclaimer Profiles | ||
The Algoma Central Corporation (TSX: ALC) is the result of a reorganization of the Algoma Central Railway in 1990. The company claims assets in excess of $400 million and revenue of $280 million. Corporate headquarters is located in St. Catharines, Ontario, Canada.
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Algosar algoma central corp great lakes freighter leaving soo locks towards lake superior
Subsidiaries
The company operates a number of subsidiaries including:
In 1980, the Algoma Central was the original owner (as Algocen Realty Holdings Ltd.) of Algo Centre Mall; Algoma Central Company wrote off over $5 million in property value due to 1990's Elliot Lake mine closures and subsequently sold the property. The mall, renamed in 2005 by a subsequent owner, collapsed in a June 23, 2012 structural failure and has now been demolished.
Shipping
An Algoma Central Corp. subsidiary, Algoma Central Marine, operates a fleet of self unloaders on the Great Lakes.
In 2013 and 2014, the corporation is constructing eight new bulk carriers to be named after the lead ship, the Algoma Equinox.
Algoma also owns several gearless bulk carriers:
Algoma operates a fleet of tankers: