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Concept
Dofasco
Summary
ArcelorMittal Dofasco is a steel company based in Hamilton, Ontario, Canada. Dofasco is a standalone subsidiary of ArcelorMittal, the world's largest integrated steel producer.
Clifton and Frank A. Sherman founded Dominion Foundries and Steel in 1912, creating a giant that would bring prosperity and identity to the city of Hamilton, Ontario. Dofasco was incorporated as Dominion Steel Castings Company Limited in 1912, becoming Dominion Foundries and Steel Company in 1917. Sherman Mine opened in 1968 and closed in 1990. Its longtime nickname "Dofasco" was adopted as its legal name in 1980.
Frank H. Sherman (Frank A.'s son) introduced to Dofasco and North America in 1954 the method of steel production known as basic oxygen steelmaking (BOS), thus rendering former processes obsolete because, with respect to them, the same quantity of steel from a BOS process is manufactured in one-twelfth the time. Basic oxygen steelmaking is superior to previous steelmaking methods because the oxygen pumped into the furnace limited impurities, primarily nitrogen, that previously had entered from the air used.
Dofasco owned and operated a number of subsidiaries, including National Steel Car, a Hamilton-based railway freight car manufacturer, from 1962 to 1994, and Algoma Steel, from 1988 to 1991, until union and financial difficulties ultimately forced Dofasco to divest the company.
In 1990, the world economy entered into recession. Dofasco lost 700 million when it sold Algoma. Dofasco was the owner of the Adams and Sherman iron ore mines in Northeastern Ontario until 1990 when Dofasco announced that they would be closing the mines. During the recession of the early 1990s, Dofasco made its first permanent layoffs since the Great Depression of the 1930s.
Dofasco has won awards for being the "most sustainable manufacturing company" in North America.
In January 2006, Luxembourg-based Arcelor, then the world's second largest steel producer by volume, outbid rival German steel producer, ThyssenKrupp AG, to purchase Dofasco.
Official source
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