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. AIP is a US based operationally oriented, middle market private equity firm that is distinctively focused on industrial businesses.
AltaSteel is a producer of rolled steel long products for the mining, construction, automotive and engineering industries. Based in Edmonton, Alberta the company operates steel-making, 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 350 people on their team.
Goal, Core Value & Approach
AltaSteel’s customer goal is “we will meet our promises”. They do this under one core value with that being:
“…to create an environment and belief that we can always meet our promise to our customers. Further, with the commitment of all, our customer experience with us will be complaint free with all promises met. We seek all our employees to rank this as a highest belief, thereby making it a core value.”
AltaSteel attains their goals and upholds their core value by “…working to achieve our customer promise through the engagement of all persons and a business partnership that creates pride in the workmanship of our products and continuous improvement in our skills and processes.”
AltaSteel’s safety goal is “ZERO: No incidents and no injuries.” They do this under one core value with that being:
“…they seek to foster the belief amongst all employees and contractors that an injury-free workplace can be achieved. Further, with the commitment of all, that an injury-free workplace will be achieved. We seek all our employees to rank this belief above all, thereby making it our core value.”
For further information on the AltaSteel, please visit their website at www.altasteel.com.