Steel News

Mesabi Trust Declares Distribution

14 January 2008 - Trustees of Mesabi Trust have declared a distribution of fifty-one and one-half cents per Unit of Beneficial Interest payable on February 20, 2008, a twenty cents per Unit increase compared to the year-ago quarter.

ArcelorMittal Provides Update Concerning Accident in Kazakhstan

14 January 2008 - ArcelorMittal provides update on the accident that occurred January 11 at its Abaiskaya mine in Kazakhstan, the cause of which has not yet been identified.

Severstal NA Halts Production at Blast Furnace Pending Investigation

14 January 2008 - Severstal North America confirms that it has halted production at Blast Furnace B, its smaller blast furnace, as a result of a January 5 accident at that facility.

Nucor, Duferco to Form Joint Venture to Produce, Distribute Beams

11 January 2008 - Nucor signs Memorandum of Understanding with the Duferco Group to establish a 50/50 joint venture for the production of beams in Italy and the distribution of beams in Europe and North Africa.

AK Steel Announces Carbon Steel Price Increase

10 January 2008 - AK Steel will increase spot market prices by an additional $50 per ton for its carbon steel products for new orders accepted for shipment on February 1, 2008 and later.

Severstal North America Announces New Chief Operating Officer

10 January 2008 - Severstal North America names Thomas J. Cera to the position of Chief Operating Officer, replacing Jim Hrusovsky, who was recently appointed CEO of Columbus, Miss., based SeverCorr.

ThyssenKrupp Implementing Quintiq Planning Solution

09 January 2008 - ThyssenKrupp Steel AG, Germany, is implementing Quintiq’s Advanced Planning & Scheduling solution to optimize capacity utilization at its steel mills and in its supply chain procedures.

Esmark Announces New Management for Core Business Segments

09 January 2008 - As it aligns management responsibilities with its two business segments—Mill Operations and Downstream Operations—Esmark announces several executive appointments that take effect immediately.

AK Steel Recognized for 2007 Stock Performance

08 January 2008 - CNNMoney.com names AK Steel Holding as one of the ten best performing Fortune 500 stocks for 2007, noting the company’s "solid 174% increase in stock performance" in 2007.

Schnitzer Steel Reports 23% Increase in First Quarter EPS

08 January 2008 - Schnitzer Steel reports net income of $25 million on revenues of $604 million for the fiscal 2008 first quarter ended November 30, 2007.

AK Steel Announces February 2008 Surcharges

07 January 2008 - AK Steel will add a $265/ton surcharge to invoices for electrical steel products shipped in February 2008.

ThyssenKrupp Begins Hiring for New Alabama Carbon and Stainless Mill

07 January 2008 - ThyssenKrupp Steel USA and ThyssenKrupp Stainless USA have begun the hiring process for professional salaried positions for their new $3.7 billion state-of-the-art carbon and stainless steel processing facility in Calvert, Ala.

SeverStal Shuffles SeverCorr Management Team, Pushes for Ownership

03 January 2008 - SeverStal announces that SeverCorr CEO John Correnti and other founding senior managers will transition executive management of SeverCorr to SeverStal.

CMC Reports Solid First Quarter

27 December 2007 - Commercial Metals reports net earnings of $69.2 million on net sales of $2.1 billion for the quarter ended November 30, 2007.

Universal & Stainless Alloy Announces New President and CEO

27 December 2007 - Universal Stainless & Alloy Products names Dennis Oates President and CEO, replacing founder Mac McAninch as Chairman and Ken Matz as President.

Worthington Reports Second Quarter Results

24 December 2007 - Worthington Industries reports net earnings were $14.7 million on net sales of $713.7 million for the second quarter of fiscal 2008, and net income of $34.9 million on net sales of $1,472.6 million for the six-months ended November 30, 2007.

Carpenter to Sell Ceramics Businesses to Morgan Crucible

24 December 2007 - Carpenter Technology will sell its ceramic operations to Morgan Crucible, a U.K.-based advanced materials company. The sale, which includes both Certech and Carpenter Advanced Ceramics, is expected to generate pre-tax proceeds of approximately $147 million.