Algoma’s history in the defence sector includes helping to make shells used in the First World War
Pointing to its long history of supporting the defence sector, Algoma Steel is applauding the new federal defence industry plan announced today by Prime Minister Mark Carney.
“Algoma Steel welcomes the announcement of the Canadian defence industrial strategy by the prime minister today,” said Laura Devoni, vice-president, human resources and corporate affairs.
“The strategy aligns the plan for Canada’s military capacity with a domestic industrial policy — putting more weight on the buy Canadian approach and opening the door for opportunities for companies like ours.
“Algoma has long supported the defence industry — our steel was used in shells in the First World War, our steel plate for armoured vehicles, tanks and personnel carriers for the U.S. armed forces, and, most recently, the joint support ships which are part of the national shipbuilding strategy.
“As we usher in a new era for Algoma with electric arc furnace steelmaking and modernized plate capabilities, we look forward to continued collaboration with the government and industry partners to build Canada strong,” Devoni told SooToday.
Speaking this morning at CAE’s flight-simulator plant and pilot-training centre in Montreal, Carney announced plans to spend more than half a trillion dollars to increase defence exports by 50 per cent and create 125,000 new Canadian jobs by 2035.
The new strategy is designed to transform Canada’s defence industries by:
prioritizing Canadian suppliers and materials
investing in Canadian innovation and commercialization
streamlining procurement to give businesses consistent and predictable demand
The plan is designed to raise the share of defence acquisitions awarded to Canadian firms to 70 per cent, and grow Canadian defence industry revenues by 240 per cent.