Steel News

Dofasco Posts 3rd Quarter Net Income

01 November 2005 - Dofasco Inc. reported consolidated net income of $5.2 million on consolidated sales of $1,104.5 million for the third quarter of 2005.

Anshan Commissions New SMS Mevac RH Unit

01 November 2005 - Anshan New Iron & Steel Co., Ltd., P.R. China, has successfully commissioned its second RH-recirculation degasser, delivered by SMS Mevac GmbH.

Siemens to Supply New Main Drive for ThyssenKrupp Tandem Cold Mill

01 November 2005 - The Siemens Industrial Solutions and Services Group (I&S) has received an order from ThyssenKrupp Steel AG to supply a new main drive for the BETA coupled tandem pickling line at its Dortmund plant. The order is valued at approximately three million euros.

Calvi and Hoesch Hohenlimburg to Merge Special Profiles Interests

01 November 2005 - The Italian Calvi Holding Group and Hoesch Hohenlimburg GmbH have agreed in principle on the sale to Calvi of a 75.1% majority interest in the special profiles operations of Hoesch Hohenlimburg. The merger will create the world’s largest and technologically leading manufacturer of rolled, extruded and cold-drawn special profiles.

Arcelor to Increase Stake in Brazilian Stainless Steel Producer Acesita

01 November 2005 - Arcelor recently entered into a definitive agreement with two Brazilian pension funds regarding its acquisition Acesita SA common shares representing 25% of the Brazilian stainless steel producer's voting capital and 8% of its total capital stock.

ThyssenKrupp Acier Starts up New High Strength Steel Slitting Line

01 November 2005 - ThyssenKrupp Service Acier has begun operation of a new slitting line.

Posco Raises the Bar for Average PCI Rates

01 November 2005 - Posco recently achieved pulverized coal injection rates of 204 kg per tonne of hot metal on all blast furnaces at its Kwangyang Works. The 204 kg/tonne rate is the highest average rate of pulverized coal injection (PCI) in the company, and has helped to significantly lower ironmaking costs.

ThyssenKrupp to Increase Prices in January

01 November 2005 - ThyssenKrupp Steel AG recently announced it would increase its prices by €20/t for hot-rolled, cold-rolled and coated products as well as non-grain-oriented electrical steel sold under quarterly contracts. The increases will become effective on January 1, 2006.

Arcelor, Baosteel and Nippon Celebrate Opening for Automotive Sheet Facility

01 November 2005 - Arcelor, Baosteel and Nippon Steel recently celebrated the opening of their automotive steel sheet joint venture, Baosteel-NSC/Arcelor Automotive Steel Sheet Co., Ltd. (BNA) in Shanghai.

Stein Heurtey to Supply Walking Beam Furnace for VA Stahl Upgrade

01 November 2005 - Stein Heurtey was recently awarded a contract by voestalpine Stahl GmbH for the turnkey supply of a 420 tonnes per hour Digit@l walking beam furnace. Stein Heurtey will also supply the charging and discharging machines.

Siemens to Supply Replacement Converter for Ahmsa

01 November 2005 - Altos Hornos de Mexico, SA de CV (Ahmsa) recently awarded the VAI Division of Siemens Group Industrial Solutions and Services (I&S) a contract to engineer and supply a new 60-ton replacement converter. The contract value is EUR 1.67 million.

Danieli to Upgrade Bar Finishing Line at Gerdau Riograndense

01 November 2005 - Gerdau Riograndense, Brazil, recently awarded an order to Danieli Morgårdshammar to upgrade its bar and light section rolling mill.

Dofasco and ThyssenKrupp Announce Friendly All-Cash Deal

01 November 2005 - Dofasco and ThyssenKrupp have reached an agreement for ThyssenKrupp to acquire Dofasco in a friendly, all-cash transaction.

Mittal Steel Completes Acquisition of Kryvorizstal

01 November 2005 - Mittal Steel Co. NV has completed its acquisition of 93.02% of Kryvorizhstal.

Olympic Steel Reports 3rd Quarter Results

28 October 2005 - Olympic Steel, Inc., announced net income of $2.2 million on net sales of $208.4 million for the third quarter, and net income of $14.8 million on net sales of $734.4 million for the nine months ended September 30, 2005.

EMJ Reports 2nd Quarter Results

28 October 2005 - Earle M. Jorgensen Co. reported net income of $18.9 million on revenues of $412.9 million for the second fiscal quarter ended September 28, 2005.

Cleveland-Cliffs Reports Nine-Month Earnings

28 October 2005 - Cleveland-Cliffs Inc. reported net income of $85.6 million for 2005's third quarter and a record net income of $210.5 million for the first nine months.

Northwest Pipe Reports 3rd Quarter Results

27 October 2005 - Northwest Pipe Co. reported net income of $4.0 million on record sales of $86.8 million for the third quarter of 2005.

Timken Reports Strong Earnings, Record 3rd Quarter Sales

27 October 2005 - The Timken Co. reported net income of $39.8 million on record sales of $1.3 billion for the third quarter of 2005.

Commercial Metals Names New CEO for CMC Steel Group

27 October 2005 - Stanley A. Rabin, Chairman, President and CEO of Commercial Metals Co., announced that Russell B. Rinn will be appointed President and CEO of the CMC Steel Group effective January 26, 2006.