Steel News

ArcelorMittal Announces Acquisition of Carminati Distribuzione

29 October 2007 - ArcelorMittal will acquire a 70% stake in Carminati Distribuzione Srl, one of the leading steel distributors in Northern Italy.

Steel Dynamics Completes OmniSource Acquisition

29 October 2007 - Steel Dynamics completes its acquisition of OmniSource for approximately $1.1 billion, including $425 million in cash, 9.7 million shares of SDI common stock, and the assumption of approximately $220 million of debt, which was repaid on closing.

Posco, Siemens Celebrate Six Months Operation of First Finex Plant

29 October 2007 - Posco has tapped more than 650,000 tonnes of hot metal during the first six months of operation of the first commercial Finex plant, jointly developed with Siemens Metals Technologies to operate with low-cost iron ore fines and lower environmental emissions.

Outotec to Deliver Two Sinter Plants for SAIL

29 October 2007 - Outotec will design and deliver two iron ore sinter plants capable of producing 3.8 million tonnes of iron sinter per year for Steel Authority of India.

Wheeling-Pittsburgh Sets Special Meeting of Stockholders

29 October 2007 - Wheeling-Pittsburgh schedules the special meeting of its stockholders to consider and vote on the proposed business combination with Esmark.

Northwest Pipe Reports 3rd Quarter Results

26 October 2007 - Northwest Pipe Co. reported net income of $5.1 million on sales of $92 million for the third quarter, and net income of $15.3 million on net sales of $285 million for the first nine months of 2007.

Parsytec to Supply Surface Inspection Systems for Anshan

26 October 2007 - Parsytec AG will install surface inspection systems to inspect silicon steel processed on two continuous annealing lines at Anshan Iron & Steel’s new silicon plant in Angang.

Symmetry Stockholders Approve Novamerican Acquisition

26 October 2007 - Symmetry Holdings’ stockholders approve the company’s proposed acquisition of Novamerican Steel on Thursday during a special meeting of stockholders.

SeverCorr Reaches Production in Record Time

26 October 2007 - SeverCorr officials and their supporters celebrate the facility’s accomplishments, including complete startup less than two years after groundbreaking.

ArcelorMittal Updates Status of Share Buyback Program

26 October 2007 - ArcelorMittal announces that it has repurchased 1,390,000 shares under the share buy-back program that was announced on September 13, 2007.

Universal Stainless Reports 3rd Quarter Results

25 October 2007 - Universal Stainless & Alloy Products reports net income of $5.5 million on sales of $62.0 million for the third quarter, and net income of $18.1 million on sales of $180.3 million for the first nine months of 2007.

Cleveland-Cliffs Completes Pinnacle Mine Longwall Move

25 October 2007 - Cleveland-Cliffs resumes normal production at Pinnacle Mine after completing the move of its longwall plow system because of sandstone intrusions in the coal panel.

Ryerson Launches Comprehensive Reorganization

25 October 2007 - Newly acquired Ryerson takes initial steps in a comprehensive reorganization, beginning with several key appointments to the company's senior leadership team.

Claymont Steel Announces Interim CFO, Resignation

25 October 2007 - Claymont Steel Holdings announced the appointment of Allen Egner as interim Chief Financial Officer, following the resignation of former CFO, David Clark.

Stelco Reports 3rd Quarter Results, Status of Acquisition

25 October 2007 - Stelco reports net income of $38 million on sales of $634 million for the quarter, and a net loss of $42 million on sales of $1.96 billion for the nine months ended September 30, 2007.

Allegheny Technologies Reports 3rd Quarter Earnings

25 October 2007 - Allegheny Technologies reports net income of $193.9 million on sales of $1.33 billion for the third quarter, and net income of $598.2 million on sales of $4.18 billion for the first nine months of 2007.

Outokumpu Details EUR 240 Million of Investments in Stainless Capacity

24 October 2007 - Outokumpu has announced it will invest an additional EUR 240 million over the next five years to expand quarto plate capacity in Sweden and the U.S., and to expand the service center offering in Germany.

Wheeling-Pittsburgh and Esmark Amend Merger Agreement

24 October 2007 - Wheeling-Pittsburgh and Esmark enter into an amendment to their definitive merger agreement to adjust the timing of the put and purchase rights that will be granted to Wheeling-Pittsburgh stockholders in connection with the combination.

Year-To-Date Steel Imports Still Buoyant

24 October 2007 - The U.S. imported a total of 2,196,000 net tons of steel in September 2007, a 17% decrease compared to final August data.

AK Steel Reports 3rd Quarter Results

24 October 2007 - AK Steel reports net income of $108.4 million on net sales of $1,721.7 million for the third quarter, and net income of $281.0 million on record net sales of $5,311.1 million for the first nine months of 2007.