Steel News

SSAB Rolls out New Name, New Leadership for North American Operations

16 June 2008 - Following completion of the sale of Ipsco Canada assets to Evraz Group, SSAB Svenskt Stal is rolling out a new corporate name and a new senior leadership team for former Ipsco steel production facilities in Mobile, Ala., and Montpelier, Iowa, plus cut-to-length lines in Houston, Texas; St. Paul, Minn.; and Toronto, Ont.

Evraz Welcomes Ipsco Canadian Assets with New Name, New Leadership

16 June 2008 - Evraz Group will operate its newly acquired Ipsco Canada assets plus its existing North American facilities—the former Oregon Steel, Rocky Mountain Steel Mills, and Claymont Steel—under the new name Evraz Inc. NA.

Steel Dynamics Raises 2nd Quarter Earnings Guidance

13 June 2008 - Stronger-than-anticipated volumes and pricing prompt Steel Dynamics to raise its 2nd quarter earnings expectations into the range of $0.90 to $0.95 per diluted share.

Esmark Board Rejects Severstal Offer

13 June 2008 - Esmark’s Board of Directors is recommending that stockholders not tender any shares to OAO Severstal, after reviewing the offer and finding it to be inadequate, uncertain regarding ability to close, and contrary to the best interest of Esmark’s stockholders.

Nucor to Acquire Ambassador Steel

13 June 2008 - Nucor’s Harris Steel will acquire the issued and outstanding common shares of Ambassador Steel for a cash purchase price of approximately $185,000,000.

Esmark Issues 2nd Quarter Earnings Guidance

13 June 2008 - Esmark is expecting second-quarter net earnings to be in the range of $.35 to $.45 per diluted share, significantly better than the $.40 loss per share that it reported in the first quarter of 2008.

Danieli Corus to Design Blast Furnace for Nucor’s Greenfield Ironmaking Plant

13 June 2008 - Danieli Corus will design and supply a greenfield blast furnace plant and related installation parts for Nucor’s new ironmaking facility that may be built in St. James Parish, La.

TMK Completes Transaction to Acquire IPSCO U.S. Assets

13 June 2008 - TMK, one of the world’s largest oil and gas pipe producers, today announces that it completed the acquisition of the U.S. companies and assets of IPSCO Tubular’s business from SSAB Svenkst Stal AB under a back-to-back transaction with Evraz S.A. (Evraz).

Wheeling-Pittsburgh Files NLRA Charge Against Steelworkers

12 June 2008 - Wheeling-Pittsburgh Steel files a charge under the National Labor Relations Act against the USW for its claims that it can block the proposed acquisition of the company by Essar Steel Holdings, as well as its attempts to block the sale.

Essar Steel to Sweeten Esmark Offer

12 June 2008 - Essar Steel Holdings announces plans to increase its offer for Esmark to US $19 per share, and says it is prepared to recognize the United Steelworkers, assume the Basic Labor Agreement, and negotiate a new collective bargaining agreement on an expedited basis.

ArcelorMittal Acquires Ottawa-Based Scrap Recycler

10 June 2008 - ArcelorMittal signs agreement to acquire leading scrap metal recycler Bakermet to develop upstream self sufficiency in shredded metal for its Contrecoeur mill.

Esmark Reports 1st Quarter Results

10 June 2008 - Esmark reports a net loss of $15.8 million on net sales of $600.1 million for the first quarter ended March 31, 2008, with results reflecting the contribution of both Esmark Steel Service Group and Wheeling-Pittsburgh Steel.

Tata Steel Group Sets Sights on Low-Carbon Benchmark

09 June 2008 - Tata Steel Group celebrates World Environment Day with campaigns, events and activities supporting the reduction of CO2 as well as the company’s corporate vision to be “the global steel industry benchmark for Value Creation and Corporate Citizenship."

Essar Steel Considers Upgrading its Offer for Esmark

09 June 2008 - Essar Steel Holdings informs the Esmark Board that it will consider a potential increase to its $17-per-share offer to acquire Esmark, but says it is seeking information on arrangements between Severstal and Esmark shareholder Franklin Mutual Advisers.

CMC Subsidiary Closes Purchase of PHP Nike

06 June 2008 - Commercial Metals subsidiary, CMC Poland, completes its acquisition of the outstanding shares of PHP Nike SA, Poland.

Esmark Clarifies Debt Status

06 June 2008 - Esmark clarifies the press release recently issued to comply with NASDAQ rules, noting that reports stating that the company had not refinanced its long-term debt are erroneous.

Nucor Bumps up 2nd Quarter Earnings Guidance

06 June 2008 - Strong shipments and higher margins are prompting Nucor Corp. to increase its earnings guidance in the range of $1.75 to $1.80 per diluted share for the second quarter, significantly better than the $1.55 to $1.60 per share that Nucor had previously forecast.