Steel News

Gerdau Ameristeel to Purchase Gate City Steel and RJ Rebar

29 October 2004 - Gerdau Ameristeel has entered into an agreement to purchase substantially all the assets of Gate City Steel, Inc. and RJ Rebar, Inc., headquartered in Indianapolis, Ind.

Gibraltar Steel Changes Name to Gibraltar Industries

28 October 2004 - Gibraltar’s stockholders have approved a proposal to change the name of the corporation to Gibraltar Industries, Inc. from Gibraltar Steel Corp., effective immediately. Gibraltar will retain its existing Nasdaq stock symbol, ROCK.

Cleveland-Cliffs Reports Record Net Income for 3rd Quarter

28 October 2004 - Cleveland-Cliffs Inc reported third-quarter 2004 net income of $87.5 million on total revenues and other income of $409.7 million.

Gibraltar Reports 3rd Quarter Results

28 October 2004 - Gibraltar reported net income of $16.2 million on sales of $279 million for the third quarter, and net income of $41.0 million on sales of $748 million in the first nine months of 2004.

Import Gains Outpace Steel Consumption Increases

28 October 2004 - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported September imports of steel into the United States were the highest import levels in four years — 3,467,000 net tons, including 2,714,000 net tons of finished steel.

Ryerson Tull to Acquire Integris Metals

28 October 2004 - Ryerson Tull, Inc. has signed a definitive agreement to purchase Integris Metals, Inc., a joint venture between Alcoa Inc. and BHP Billiton.

NS Group Reports Record Consecutive Quarterly Results

27 October 2004 - NS Group, Inc. announced record net income of $24.7 million on record net sales of $122.1 million for the quarter ended September 30, 2004.

Steel Technologies Completes Private Placement

27 October 2004 - Steel Technologies Inc. has successfully issued $50 million of unsecured Senior Notes through a private placement arranged by SunTrust Robinson Humphrey.

Carpenter Technology Reports 1st Quarter Results

27 October 2004 - Carpenter Technology Corp. reported record net income of $19.8 million on record net sales of $297.6 million for the first fiscal quarter ended September 30, 2004. Carpenter attributes the results to strong broad based demand and continued improvement in its operating performance.

Steel Dynamics Breaks Ground on New Joist & Deck Plant

27 October 2004 - Steel Dynamics, Inc.’s New Millennium Building Systems, LLC, subsidiary conducted a ground-breaking ceremony for its new $30-million steel fabrication facility in Lake City, Fla., on October 22.

AK Steel Reaches Contract Agreement with Ashland Coke Workers

27 October 2004 - AK Steel Corp. announced that it has reached a progressive, four-year labor agreement at the company’s Ashland, Ky., coke plant.

Steel Dynamics Adopts New Stock Repurchase Program

27 October 2004 - Steel Dynamics, Inc.’s Board of Directors has authorized the company to buy back up to 5,000,000 shares of its common stock, or approximately 10% of the current shares outstanding.

AK Steel Reports 3rd Quarter Net Income

27 October 2004 - AK Steel reported net income of $83.1 million on record net sales of $1,337.3 million for the third quarter of 2004, and net income of $341.2 million on net sales of $3,783.5 million for the first nine months of 2004.

U. S. Steel Reports Record 3rd Quarter Results

27 October 2004 - United States Steel Corp. reported record net income of $354 million on total revenues of $3729 million for the third quarter, and net income of $623 million on total revenues of $10,176 million for the first nine months of 2004.

Dofasco Wins Approval for Repurchase Plan

26 October 2004 - The Toronto Stock Exchange has approved Dofasco Inc.’s application to make a Normal Course Issuer Bid for the repurchase of its common shares.

Dofasco Posts Record Third Quarter Results

26 October 2004 - Dofasco Inc. reported record consolidated net income of $115.0 million on record consolidated sales of $1,089 million for the third quarter of 2004. Dofasco attributes the results to higher pricing, strong operating performance and robust demand in the quarter.

ISG Reports Strong Third Quarter Results

26 October 2004 - International Steel Group Inc. reported third quarter 2004 net income of $256.4 million on net sales of $2.6 billion, and net income of $421.4 million on net sales of $6.5 billion for the nine months ended September 30, 2004.

Universal Stainless Exceeds Forecast for 3rd Quarter Earnings Per Share

22 October 2004 - Universal Stainless & Alloy Products, Inc. reported net income of $2.7 million on sales of $33.3 million for the third quarter of 2004.

Allegheny Technologies Announces 3rd Quarter Results

22 October 2004 - Allegheny Technologies Inc. reported net income of $8.6 million on sales of $730.6 million for the third quarter ended September 30, 2004.

Reliance Steel & Aluminum Reports Record 3rd Quarter Results

22 October 2004 - Reliance Steel & Aluminum Co. reported net income of $44.1 million on record quarterly sales of $783.7 million for the third quarter and record net income of $126.8 million on record sales of record $2.2 billion for the nine months ended September 30, 2004.