Steel News

Nucor Restarts Upgraded Coil-to-Bar Drawing Line at Norfolk

26 June 2008 - Danieli announced the recent start-up of one of the primary coil-to-bar drawing lines at Nucor’s cold finishing plant in Norfolk.

Severstal Enters Merger Agreement to Acquire Esmark

26 June 2008 - OAO Severstal enters into a definitive merger agreement to acquire Esmark at an increased purchase price of $19.25 per share in cash at a total equity value of approximately $775 million.

EPA Seeks Comments on AK Steel Disposal Well

25 June 2008 - U.S. Environmental Protection Agency Region 5 is seeking feedback from the public that could affect its decision to approve a request for an exemption from AK Steel.

World Steel Dynamics Recognizes AK Steel as a World-Class Steelmaker

25 June 2008 - World Steel Dynamics adds AK Steel to its list of World-Class Steelmakers, reflecting the company's noteworthy turnaround since 2003.

Steelworkers Union Responds to Esmark Statement on Arbitrator Ruling

25 June 2008 - The United Steelworkers issues a statement that arbitrator Richard I. Block's decision had upheld the USW's contractual "right to bid" against Esmark's willful violation of the collective bargaining agreement.

Esmark to Grant Three-Day Extension of Right-to-Bid Period

25 June 2008 - Esmark confirms that an Arbitrator’s decision had cleared the way for its Board to act on competing bids for the company by declining to extend the 52-day “right-to-bid” period given to the United Steelworkers.

Carpenter Technology Files Complaint against Allegheny Technologies

24 June 2008 - Carpenter Technology files lawsuit against Allegheny Technologies alleging that two U.S. patents obtained by the company are not valid.

Severstal Reaffirms Offer to Acquire Esmark

20 June 2008 - OAO Severstal reaffirms its all-cash $17-per-share tender offer to acquire all outstanding shares of Esmark common stock.

Nucor Names General Manager for New Ironmaking Facility

20 June 2008 - Nucor announces the Vice President and General Manager for the company’s new state-of-the-art coke and ironmaking facility.

WCI Steel Responds to Legal Challenge

19 June 2008 - WCI Steel issues statement in response to media inquiries concerning the legal challenge filed by Optima International of Miami and minority stockholders representing less than 18% of the company’s shares outstanding.

CMC Reports Third Quarter Earnings

19 June 2008 - Commercial Metals Co. reports net earnings of $59.5 million on net sales of $2.9 billion for the quarter, and net earnings of $168.4 million on net sales of $7.3 billion for the nine months ended May 31, 2008.

Severstal Responds to Esmark Board of Directors

18 June 2008 - Severstal responds to the Esmark Board of Directors regarding actions following Severstal’s tender offer to acquire the outstanding shares of Esmark Inc.

Steel Dynamics Subsidiary Completes Acquisition of Recycle South

17 June 2008 - Steel Dynamics subsidiary OmniSource Corp. has completed its acquisition of the remaining 75% equity interest in Spartanburg, S.C., based Recycle South, LLC.

Allegheny Technologies Unveils New Specialty Armor Steel

17 June 2008 - Allegheny Technologies is introducing a new, high-hard steel armor to the defense market, the first such steel to be developed in America since the Vietnam conflict, according to the company.

ArcelorMittal to Acquire Bayou Steel

17 June 2008 - ArcelorMittal will acquire structural steel and bar products manufacturer Bayou Steel for US$475 million.

Esmark Adopts Stockholder Rights Plan

16 June 2008 - Esmark Board of Directors adopts a Stockholders Rights Agreement designed to help company stockholders receive the highest value for their shares in connection with the sale of the company.

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.