The Algoma Central Corporation is the result of a reorganization of the

Algoma Central Railway The Algoma Central Railway is a railway in Northern Ontario that operates between Sault Ste. Marie and Hearst. It used to have a branch line to Wawa, Ontario. The area served by the railway is sparsely populated, with few roads. The rai ...

in 1990. The company claims assets in excess of $400 million and revenue of $280 million. Corporate headquarters is located in St. Catharines,

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

, Canada.

Subsidiaries

The company operates a number of

subsidiaries A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a sa ...

including: * Algoma Central Properties - owning commercial

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

in Sault Ste. Marie, St. Catharines, and Waterloo,

Algoma Ship Repair Algoma may refer to: Businesses and organisations * Algoma Central Railway, Northern Ontario **Algoma Central Corporation *Algoma Foundry and Machine Company, Algoma, Wisconsin, U.S. *Algoma Treatment and Remand Centre, a prison in Sault Ste. Marie ...

- repairs ships at its dock on the

Welland Canal The Welland Canal is a ship canal in Ontario, Canada, connecting Lake Ontario and Lake Erie. It forms a key section of the St. Lawrence Seaway and Great Lakes Waterway. Traversing the Niagara Peninsula from Port Weller in St. Catharines t ...

Port Colborne Port Colborne is a city in Ontario, Canada that is located on Lake Erie, at the southern end of the Welland Canal, in the Niagara Region of Southern Ontario. The original settlement, known as Gravelly Bay, dates from 1832 and was renamed after S ...

, Ontario * Algoma Tankers - transportation of

petroleum Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...

products through the

Great Lakes The Great Lakes, also called the Great Lakes of North America, are a series of large interconnected freshwater lakes in the mid-east region of North America that connect to the Atlantic Ocean via the Saint Lawrence River. There are five lakes ...

Algoma Central Marine Algoma may refer to: Businesses and organisations * Algoma Central Railway, Northern Ontario **Algoma Central Corporation *Algoma Foundry and Machine Company, Algoma, Wisconsin, U.S. *Algoma Treatment and Remand Centre, a prison in Sault Ste. Marie ...

- operates bulk shipping on the Great Lakes (see below) * Formerly

In 1980, the Algoma Central was the original owner (as Algocen Realty Holdings Ltd.) of

Algo Centre Mall The Algo Centre Mall (legally Eastwood Mall since 2005 but almost never referred to as such) was a mall and hotel located on Highway 108 in Elliot Lake, Ontario, Canada. It was the largest commercial complex in the area. When the community was hi ...

; Algoma Central Company wrote off over $5 million in property value due to 1990's

Elliot Lake Elliot Lake is a city in Algoma District, Ontario, Canada. It is north of Lake Huron, midway between the cities of Sudbury and Sault Ste. Marie in the Northern Ontario region. Once dubbed the "uranium capital of the world," Elliot Lake has since ...

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 since been demolished.

Shipping

An Algoma Central Corp. subsidiary,

, operates a fleet of self unloaders on the

. In 2000, Upper Lakes Shipping Ltd. and Algoma Central began a partnership to coordinate the transportation of goods along the St. Lawrence Seaway, called

Seaway Marine Transport Seaway may refer to: *Seaway (band), a pop punk band from Canada. * Sound (geography), a sea or ocean inlet larger than a bay, deeper than a bight, and wider than a fjord, or a narrow sea or ocean channel between two bodies of land * Sea lane A ...

. In 2011 upon the purchase of Upper Lakes Shipping Ltd. and buying out the partnership, the company re-emerged as Algoma Central Marine. Upon completion of the purchase, the entire fleet was then renamed, with the exception of the ''John D. Leitch'', the ship that was named in honor of the company's then owner. Beginning in 2013, the corporation initiated construction of a series of new bulk carriers to be named after the lead ship, . The redesigned fleet incorporated engineering and technology improvements to reduce fuel consumption, create a safer workplace, and reduce emissions and other environmental impact. The company installed

Buffalo Automation Buffalo Automation is an artificial intelligence (AI) startup that develops autonomous navigation technology for commercial ships, recreational boats, and water taxis with the goal to improve maritime safety. It is a private company based in Bu ...

's ''AutoMate'' system of sensors, cameras, and software on select Equinox series vessels, to evaluate autonomous navigation. Algoma also owns several gearless bulk carriers: Algoma operates a fleet of tankers:

References

{{reflist

External links

Algoma Central Corporation
Companies listed on the Toronto Stock Exchange Companies based in St. Catharines Canadian companies established in 1990 Shipping companies of Canada 1990 establishments in Ontario Great Lakes Shipping Companies