03:05:44 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Algoma Central Corp
Symbol ALC
Shares Issued 38,509,127
Close 2023-10-27 C$ 14.43
Market Cap C$ 555,686,703
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Globe says Algoma Central sees strike end suddenly

2023-10-30 09:28 ET - In the News

The Globe and Mail reports in its Monday edition that Unifor and the St. Lawrence Seaway Management Corp. reached a tentative agreement on Sunday night, ending an eight-day strike that halted shipments of Western wheat, road salt and other commodities on the waterway that links the North American heartland with global markets. The Globe's Eric Atkins writes that the seaway management company said employees will return to work at 7 a.m. on Monday and that ship traffic will resume gradually. Details of the agreement, which must be ratified by union members, were not available. About 350 seaway workers, skilled tradespeople and supervisors went on strike on Oct. 22 after the two sides failed to agree on wages and working conditions. The strike -- the first in 55 years -- closed 13 of the 15 Seaway locks between Montreal and Lake Erie, preventing ships from moving Prairie wheat, gasoline, steel, road salt and other goods ahead of the winter shutdown in late December. More than 110 ships were stranded by the shutdown. "We have in hand an agreement that's fair for workers and secures a strong and stable future for the Seaway," said Terence Bowles, chief executive officer of Seaway Management, in a statement.

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