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Producers
The latest news on the companies producing steel or raw materials used in the iron- and steelmaking process.
Latest News
Stelco Reaches Agreement with GM, Receives Court Approval of Capital Raising Process
21 October 2004 - Stelco Inc. received Court approval of a process designed to raise capital and to pursue the sale of non-core assets. The company also announced that it has reached an agreement with General Motors (GM) regarding the sourcing of supply in 2005.
Ipsco Announces Location and Supplier for Plate Processing Facility
21 October 2004 - Ipsco Inc. will build its new continuous plate heat treating operation in Mobile, Ala.
Roanoke Electric Steel Raises Dividend Rate
20 October 2004 - Roanoke Electric Steel Corp.’s Board of Directors declared the 184th consecutive quarterly common stock cash dividend in the amount of 11 cents per share.
AK Steel Announces November Surcharges
20 October 2004 - AK Steel has advised its flat-rolled carbon steel customers that a $149 per ton surcharge will be added to invoices for products shipped in November, a decrease of $8 from October's surcharge of $157 per ton. The company also advised its electrical steel customers that a $250 per ton surcharge will be added to invoices for electrical steel products shipped in November, down $45 from the October surcharge of $295 per ton for those products.
Auto/Steel Partnership Announces Executive Director
20 October 2004 - The Auto/Steel Partnership (A/SP) Joint Policy Board announced the appointment of Dr. Roger A. Heimbuch as executive director of the Partnership.
Ipsco Employees Provide Hurricane Relief in Alabama
20 October 2004 - Ipsco and its employees have contributed close to $60,000 to support those in Alabama most affected by Hurricane Ivan.
Commercial Metals Reports Record 4th Quarter Earnings
20 October 2004 - Commercial Metals Co. reported record net earnings of $47.4 million on net sales of $1.5 billion for the fourth quarter and net earnings of $132.0 million on net sales of $4.8 billion for the year ended August 31, 2004.
U. S. Steel Names General Manager of Processed Products
19 October 2004 - United States Steel Corp. announced that it will centralize its sheet products processing and delivery operations and has appointed Lisa A. Roudabush as General Manager—Processed Products to oversee the new organization.
Steel Dynamics Reports Record 3rd Quarter Sales and Earnings
19 October 2004 - Steel Dynamics, Inc. announced record third quarter earnings of $114 million on record net sales of $635 million, and net income $213 million on net sales of $1545 million for the third quarter and nine months ended Sep. 30, 2004, respectively.
Gerdau Ameristeel Prices Offering of Common Shares
18 October 2004 - Gerdau Ameristeel Corp. announced that its registration statement has become effective under the U.S. Securities Act of 1933 and that it has obtained a receipt for a final prospectus from Canadian securities regulatory authorities in connection with its offering of 70 million common shares.
Strong U.S. Results to Help Ipsco Eliminate Tax Valuation Allowance
18 October 2004 - Ipsco Inc. announced that due to continued strong operating earnings, it expects to eliminate the valuation allowance related to net operating losses in the United States.
California Steel Reports Record 3rd Quarter Results
18 October 2004 - California Steel Industries, Inc. (CSI) reported its best quarterly results in the company's 20-year history, with net income of $46.1 million on sales of $388.6 million for the third quarter.
ATI Allvac Commissions Expanded Richburg Rolling Mill
15 October 2004 - ATI Allvac earlier this week commissioned its recently expanded Richburg, S.C., high performance metals long products rolling facility. The expansion significantly enlarges the facility's operating capacity and increases value-added process capabilities including coil processing.
Tenth Monitor Report Available for Stelco Restructuring
15 October 2004 - Stelco Inc. announced the filing of the Tenth Report of the Monitor for the company's Court-supervised restructuring.
AK Steel Earns Integris Metals Quality Award
14 October 2004 - Integris Metals has presented its Award of Excellence to AK Steel for quality performance. The award is in recognition of AK Steel's quality performance from the fourth quarter of 2003 through the third quarter of 2004.
Sheffield Steel Completes Consent Solicitation
13 October 2004 - Sheffield Steel Corp. recently completed successfully its consent solicitation with respect to certain amendments to the Indenture for its 11-3/8% Senior Secured Notes due 2011 (CUSIP 821266AH6).
Cliffs Announces Management Changes
12 October 2004 - Cleveland-Cliffs Inc. announced that Edward C. Dowling Jr., Executive Vice President—Operations, has elected to resign to accept a senior executive position with a major global mining company. Mr. Dowling joined Cleveland-Cliffs in April 1998 as Senior Vice President—Operations and made numerous contributions during his tenure with the company.
Cliffs Announces Labor Agreement at Wabush Mines
12 October 2004 - Cleveland-Cliffs Inc. announced that contract settlements have been reached and ratified by the United Steelworkers Union, representing approximately 575 hourly employees at Wabush Mines in Canada.
SMI Seguin Meltshop Back to Full Production with Reinstalled Transformer
12 October 2004 - Commercial Metals Co. announced that Structural Metals, Inc. (SMI Texas) has completed reinstallation of its repaired primary electric arc furnace transformer. The Seguin, Texas, meltshop is now back in full production.
Stelco Customer Reacts to 90-Day Notice
11 October 2004 - One of Stelco Inc.’s largest customers has served notice that it will remove its business from the company for 2005 unless it receives assurances of Stelco's ability to provide security of supply through the coming year.
