Steel News

Siemens Receives Order from ATI for Integrated Hot-Rolling Mill

28 July 2010 - Allegheny Technologies Inc. awarded a contract to Siemens VAI Metals Technologies GmbH to design, engineer, and supply a complete integrated hot-rolling mill on a process turn-key basis. The new mill will be part of a new advanced specialty metals hot-rolling and processing facility, and will be built at ATI Allegheny Ludlum in Brackenridge, Pa.

Court Rules Against Delay in U.S. Steel Case

27 July 2010 - Canada’s Federal Court of Appeal has ruled against U.S. Steel’s request to for a stay in proceedings related to the company’s failure to satisfy commitments made under the Investment Canada Act prior to the company’s purchase of Stelco.

Nucor Reports 2nd Quarter, Six-Month Results

23 July 2010 - Nucor reported consolidated net earnings of $91.0 million on consolidated net sales of $4.20 billion for the second quarter, and consolidated net earnings of $122.0 million on consolidated net sales of $7.85 billion for the first half of 2010.

Metals USA Reports Q2 2010 Results

23 July 2010 - Metals USA Holdings Corp. reported sales revenues of $335.0 million for the second quarter of 2010 ended June 30, 2010. This compares favorably to sales revenues of $287.9 million for the first quarter of 2010 and $267.8 million for the same period a year ago.

California Steel Industries Reports Q2 2010 Results

22 July 2010 - California Steel Industries, Inc. reported second-quarter net income of $18.5 million for the period ended June 30, 2010. Sales revenues for the quarter are $301.7 million on shipments of 363,127 net tons. The figures represent significant increases compared to the same period a year ago.

ALJ Releases 3rd Quarter Revenue Performance

21 July 2010 - ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of $31.0 million for the third quarter and revenues of $80.5 million for the nine months ended June 30, 2010.

Universal Stainless Names New CFO

21 July 2010 - Douglas M. McSorley has been named Vice President of Finance, Chief Financial Officer, and Treasurer of Universal Stainless & Alloy Products, Inc., effective July 19.

Steel Dynamics Reports 2nd Quarter 2010 Results

21 July 2010 - Steel Dynamics, Inc. announced net income of $49 million on net sales of $1.6 billion for the second quarter of 2010.

Mesabi Trust Declares Distribution

16 July 2010 - The Trustees of Mesabi Trust declared a distribution of $0.80 per Unit of Beneficial Interest payable on August 20, 2010, to Mesabi Trust unit holders of record at the close of business on July 30. The Trust did not declare a distribution for the same period a year ago.

U.S. Steel Joins Coalition to Help Keep Chicago Locks Open

15 July 2010 - The UnLock Our Jobs coalition announced several new members, including U.S. Steel Corp., Ports of Indiana, and American Agriculture Movement. The coalition works toward a comprehensive solution to stop the spread of Asian Carp, while leaving the Chicago locks open to commerce.

Gallatin Steel Receives Award for Excellence in Employee Health

14 July 2010 - Gallatin Steel has been recognized as one of the “Healthiest Companies in America” by Interactive Health Solutions for the third year in a row.

Lakeside Steel Provides Q1 Operations Update

14 July 2010 - Lakeside Steel announced its fiscal first-quarter operations update for the three months ended June 30, 2010 (Q1 2011), including preliminary numbers suggesting shipments of 53,719 tons—a 268% improvement over Q1 2010 and a 35% improvement over Q4 2010.

Olympic Steel Completes New Credit Facility

12 July 2010 - Olympic Steel, Inc. completed a new $125 million five-year asset based credit facility on June 30. The new ABL facility, which replaces the company’s existing $130 million credit facility that was due to expire in December 2011, has a maturity date of June 30, 2015.

USW Members Ratify Contract Extension for AK Ashland Works

12 July 2010 - Members of USW Local 1865 union ratify a three-year extension to the labor agreement covering production and maintenance employees at AK Steel's Ashland Works. The extension contains new language that increases the company’s operating flexibility as well as a wage increase for covered employees and lump sum payments over the next three years.

Lakeside Steel Signs Contract with Bennett Environmental for PCB Remediation

09 July 2010 - Lakeside Steel has agreed to terms with Bennett Environmental to remove the PCB material currently stored on Lakeside's property in Welland. The project is expected to be completed by December 2010.

AK Steel Researcher Named ASM International Fellow

09 July 2010 - AK Steel’s Jerry L. Arnold, a Principal Research Engineer at the company’s Research Center, has been elected a Fellow of the Society by ASM International in recognition of his “distinguished contributions in the field of materials science and engineering”.

ThyssenKrupp Steel USA Passes Hiring Milestone

08 July 2010 - ThyssenKrupp Steel USA has hired over 1000 new Team Members, passing a major project milestone as it moves closer to the start of initial operations in July.

Gerdau, Gerdau Ameristeel Enter Arrangement Agreement

06 July 2010 - Gerdau Ameristeel and Gerdau SA enter into a definitive arrangement agreement to implement their proposal to take Gerdau Ameristeel private at a price of US$11.00 cash per Common Share. If approved by shareholders, the transaction is expected to be completed in August 2010.

Nucor’s Parrish to Retire; Darsey Promoted

02 July 2010 - Nucor Corp. Executive Vice President of Bar Products D. Michael Parrish plans to retire at the end of August after 35 years of service with Nucor. Effective September 1, James R. Darsey will be promoted to the position.

Timken Teams with Habitat for Humanity to Build LEED-Certified Home

02 July 2010 - A team of volunteers from The Timken Co. will construct Habitat of Greater Stark and Carroll Counties’ first-ever LEED-certified home in Canton, Ohio. The group will begin construction in July on the new home.