Essar Steel Algoma's core product is sheet steel, which it sells to the automotive, light manufacturing, and service-center industries as cold-rolled coils, cut-to-length product, first-stage blanks, and hot-rolled coil products. The company's other products are plate steel for the construction and shipbuilding industries. Essar Steel Algoma focuses on specialty products (sheet and strip products), which account for about two-thirds of its sales. In the spring of 2007 the Indian conglomerate Essar acquired what was then called just plain Algoma Steel for $1.6 billion. The following year Essar rebranded its subsidiary.