Steel News

Maverick Tube Announces New Officer Appointments

05 January 2005 - Maverick Tube Corp.’s Board of Directors has elected C. Robert Bunch, currently the company's President and Acting CEO, as Chairman. Mr. Bunch, who will remain Acting CEO, replaces Gregg Eisenberg, whose retirement as Chairman was previously announced.

First Quarter Outlook Strong for Steel Technologies

05 January 2005 - Steel Technologies Inc. expects results for the first fiscal quarter to reflect continued substantial increases in volume and sales through its operations.

Canadian Steelworkers Launch Campaign for Tsunami Relief

05 January 2005 - The United Steelworkers, through its Humanity Fund, has launched a union campaign to raise funds for relief to victims and survivors of last month's devastating tsunami.

Seven Potential Bidders Move on to Phase Two of Stelco Sale Process

05 January 2005 - Six parties have demonstrated their interest in participating in Stelco Inc.’s Court-approved capital raising process for its core integrated steel business by submitting detailed proposals by the December 31, 2004 deadline.

Universal Stainless to Increase Base Prices

05 January 2005 - Universal Stainless & Alloy Products, Inc. announced base price increases of 5% on all air melted and 7% on all remelted steels, effective with shipments scheduled for January 17.

Ryerson Tull Completes Acquisition of Integris Metals

05 January 2005 - Ryerson Tull, Inc. has completed its acquisition of Integris Metals, Inc., from its shareholders, Alcoa Inc. and BHP Billiton. Ryerson Tull purchased all of the equity interest in Integris for $410 million plus assumption of approximately $234 million of Integris' debt.

AK Steel Makes Voluntary Pension Trust Fund Contribution

05 January 2005 - AK Steel made a $150 million voluntary contribution to its pension trust fund on January 3, 2005. The voluntary contribution applies toward approximately $300 million of pension funding that otherwise would be required in 2006.

Cleveland-Cliffs Announces Convertibility of Preferred Stock

03 January 2005 - Holders of Cleveland-Cliffs Inc.’s 3.25% redeemable cumulative convertible perpetual preferred stock may surrender stock for conversion at any time during the fiscal quarter ending March 31, 2005, thanks to satisfaction of a condition to the conversion right. The condition was satisfied because the closing share price of Cleveland-Cliffs' common shares exceeded 110% of the then-applicable conversion price of the preferred stock for at least 20 of the last 30 trading days of the fiscal quarter ended December 31, 2004.

Morgan to Upgrade Argentinean Rod Mill

01 January 2005 - Morgan Construction Co. has received two contracts from Acindar Industria Argentina de Aceros SA, Argentina, for the design, manufacturer and installation of new equipment to upgrade Acindar’s twin-strand rod mill.

Posco Employees Support Wide Range of Volunteer Activities

01 January 2005 - Under the slogan, "Sharing love and hope", Posco practices altruism through a variety of community service activities that comprise a part of Posco's Corporate Sustainability Management (CSM).

Magnum Metal Process Inaugurates New Office

01 January 2005 - Value-engineered solutions provider Magnum Integrated Technologies Inc. recently opened a new office in Pune, India, as part of the company’s wholly owned subsidiary Magnum Metal Process Technologies Pvt. Ltd.

Posco Speeds Up Implementation of Innovative Strategies

01 January 2005 - In an effort to create a world-class corporate culture, Posco continues to implement activities that will help spur innovation in daily business activities.

Outokumpu Defines Strategies for Becoming Number One in Stainless

01 January 2005 - Outokumpu previously defined the Group’s future strategic direction as leadership in stainless steel. As part of its new direction, Outokumpu was looking at various options to exit from its fabricated copper products business.

Kobe Steel to Stop Production of Chromate-Treated HDG Steel Sheet

01 January 2005 - Kobe Steel, Ltd. has completed development of hot dip galvanized (CG) steel sheet with no chromate layer, and has now begun commercial production.

Morgan to Upgrade Siderurgica Anon Bar and Rod Mill

01 January 2005 - Morgan Construction Co. has received three contracts from Siderúrgica Añón, SA, Spain, to design, build and install several modifications to its combination bar and rod mill. Two of the contracts are for upgrades to the existing bar mill, while the third is to make the rod outlet independent of the bar mill.

Ispat Iscor Commences Coke Expansion Project

01 January 2005 - Ispat Iscor Ltd. has obtained approval from South African environmental authorities to commence construction of a new coke oven battery at its Newcastle steel plant in northern Kwa-Zulu Natal. This will enable the company to expand its market coke production by some 450,000 tonnes per year.