Steel News

Sandvik Launches New Interconnector Material for Solid Oxide Fuel Cells

15 October 2008 - Sandvik Surface Technology is launching new interconnector materials with high temperature corrosion resistance and good surface conductivity for use in solid oxide fuel cell technology.

Tenova to Relocate, Revamp Strip Processing Line for Thyssen Krupp

15 October 2008 - Tenova Strip Processing will transfer and revamp Thyssen Krupp Acciai Speciali Terni’s Stainless Steel Annealing and Pickling Line No. 4 from Turin to its facility in Terni.

Worthington Industries Announces New President

14 October 2008 - Worthington Industries appoints George P. Stoe as President, in addition to his current duties as Chief Operating Officer.

Novamerican Steel Reports Third Quarter 2008 Results

14 October 2008 - Novamerican Steel reports net sales of $230.9 million for its third fiscal quarter, a 20.6% increase as compared to its pro forma third fiscal quarter of 2007.

Stainless, Specialty Imports Continue Their Slow Climb through July

14 October 2008 - Total stainless steel imports reached 482,223 tons through the first seven months of 2008, a 0.7% decrease compared to YTD July 2007, according to the latest report from the Specialty Steel Industry of North America. Total specialty imports increased 0.2% over the same period.

Northwest Pipe to Supply Pipe for British Columbia Water Project

14 October 2008 - Northwest Pipe will supply approximately 2800 feet of 120-inch steel pipe for the Seymour and Capilano Filtration Twin Tunnels project in British Columbia.

Mechel Reports on Construction of Rail Spur to the Elga Coal Deposit

13 October 2008 - Mechel OAO reports on progress of construction of the railway spur track to the Elga coal deposit during a recent working meeting at its Yakutugol OAO coal mining subsidiary.

EPA Report Showcases American Steel Industry’s Steep Decline in Emissions

13 October 2008 - A just-released report by the U.S. Environmental Protection Agency recognizes the American steel sector for its 67% decline of total normalized and absolute emissions between 1995 and 2006, despite production increases.

Severstal Announces Production Cuts in Russia, North America, Europe

13 October 2008 - Slower demand for steel products and recent changes in global economic conditions are prompting OAO Severstal to reduce production across its facilities for the month of October.

Severstal Resources Extends Offer for Shares of PBS Coals Limited

13 October 2008 - OAO Severstal affiliate 7027940 Canada Limited extends the expiration date for its offer to purchase all outstanding shares of PBS Coals Limited at an offer price of C$8.30 cash per share.

Cleveland-Cliffs Confirms Results for October 3 Special Shareholders Meeting

13 October 2008 - Cleveland-Cliffs reports that shareholders rejected Harbinger Capital Partners’ control share acquisition proposal during the special shareholders meeting held on Oct. 3, 2008, based on results provided by IVS Associates, the independent Inspector of Elections.

Tenova Acquires Controlling Interest of Core Furnace Systems

13 October 2008 - Tenova has finalized its acquisition of the controlling interest of Pittsburgh-based Core Furnace Systems, a leading North American supplier of industrial furnaces plus meltshop equipment and services.

Universal Stainless Reports Bridgeville Labor Agreement, 3Q Guidance Revision

13 October 2008 - Universal Stainless & Alloy Products’ announcement of a new 5-year collective bargaining agreement at its Bridgeville facility is tempered by the concurrent announcement of a downward revision in third quarter earnings guidance.

Saarstahl Plans Further Investment in Völklingen Rolling Mill

10 October 2008 - Saarstahl AG will invest 55 million Euros in the Nauweiler Bar Steel Centre, including the installation of a new cooling bed and adjoining finishing line at the company’s Völklingen rolling mill.

Sandvik to Divest Sandvik Calamo

10 October 2008 - Sandvik reaches an agreement to divest its SandvikCalamoproduct unit to Dockweiler Edelstahl GmbH, Germany.

RSI to Supply X-ray Thickness Gauge for Severstal Sparrows Point Hot Mill

10 October 2008 - Radiometric Services & Instruments will supply a complete new X-ray thickness gauging system for Severstal Sparrows Point’s 68-inch hot strip mill.

ArcelorMittal Expects Higher EBITDA in Second Half of 2008

10 October 2008 - ArcelorMittal reaffirms its third-quarter EBITDA guidance in excess of USD 8.5 billion.

Former U.S. Steel Exec Joins Tube City IMS Board

10 October 2008 - Tube City IMS announces the election of John J. Connelly, a former Senior Vice President for United States Steel, to the company’s Board of Directors.

World Steel Association Sets Target for Data Collection

10 October 2008 - The World Steel Association reports on its success to date on phase 1 of its CO2 emissions data collection program, and sets a stretch target to the end of the year for completion of data collection.

Steel Import Permit Applications Expand 9% in September

09 October 2008 - Steel import permit applications totaled 2,684,000 net tons for the month of September, a 9% increase from the 2,460,000 permit tons recorded in August 2008, and a 14% increase from the August preliminary imports total of 2,346,000 net tons, according to the latest report from AISI.