Steel News

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.

Horsehead to Process Nucor’s EAF Dust on Regional Basis

24 December 2007 - Horsehead and Nucor agree to expand their existing commercial relationship to include regional recycling of Nucor's EAF dust by Horsehead.

AK Steel Receives Payment for Recapitalization of Combined Metals

21 December 2007 - AK Steel receives a $42.6-million cash payment from the recapitalization of Combined Metals of Chicago LLC, a private company in which AK Steel holds a 40% equity interest.

Republic VEBA Participants Get Second Cost Reduction in Two Years

21 December 2007 - Retiree healthcare contributions will be lowered for USW-represented retirees and surviving spouses from former Republic Technologies International that are participating in the Voluntary Employee Beneficiary Association.

U. S. Steel Names Three New Leaders for State Governmental Affairs

21 December 2007 - United States Steel announces three appointments with responsibility for governmental affairs in a number of states in which the company operates, including Alabama, Arkansas, Illinois, Indiana, Michigan, Minnesota, Oklahoma, and Texas.

Timken Provides Rolling Mill Training for Steel Dynamics and other Producers

20 December 2007 - The need to train new millwrights to replace retiring veterans is accelerating demand for Timken’s Rolling Mill Industry Training classes, with demand for the training class nearly doubling in 2007 alone.

Steel Dynamics Updates Earnings Guidance

20 December 2007 - Excluding the effect of its late-October acquisition of OmniSource, Steel Dynamics expects fourth quarter earnings to be in line with the guidance that was issued in October.

California Steel to Implement Broner Demand Modeller

19 December 2007 - Broner will supply California Steel with its Demand Modeller, which will help to support customer service, planning for slab acquisition, and capacity management.

WorleyParsons to Install Smart-Gas System for Wheeling Pittsburgh Steel EAF

19 December 2007 - WorleyParsons Gas Cleaning will install a complete Smart-Gas System that will allow Wheeling-Pittsburgh Steel to optimize total energy utilization in their Mingo Junction EAF.

AISI to Participate in Future Steel Vehicle Global Initiative

18 December 2007 - The American Iron and Steel Institute announces plans to participate in the Future Steel Vehicle project, a global research initiative focused on the mitigation of automotive greenhouse gas emissions.

U. S. Steel Announces High-Profile Addition to Washington Office

18 December 2007 - United States Steel announces the addition of Katie R. McCall to its Washington, D.C., office as Manager—Federal Governmental Affairs.

EPA Rule to Reduce Mercury, PM Releases from EAF Facilities

18 December 2007 - The EPA issues new air emissions standards for mercury and particulate matter emissions from EAF-based steel manufacturers by requiring them to buy motor-vehicle scrap only from providers that participate in the EPA-approved National Vehicle Mercury Switch Recovery Program.

Still Hopeful, Esmark Confirms Termination of Sparrows Point Deal

18 December 2007 - Confirming ArcelorMittal USA’s termination of the Purchase and Sale Agreement, Esmark says that it plans to continue its efforts to participate in the purchase of the Sparrows Point business, and will also continue its discussions with the USW.

ArcelorMittal Terminates Sparrows Point Purchase Agreement with E2

17 December 2007 - ArcelorMittal terminates agreement for the sale of its Sparrows Point facility and related assets to E2 Acquisition Corp., a joint venture sponsored by Esmark and Wheeling-Pittsburgh.

OSHA Cites Wheeling Pittsburgh Steel for Safety Violations

14 December 2007 - OSHA proposes $210,000 in fines against Wheeling Pittsburgh Steel for alleged repeat and serious violations of federal workplace safety standards.

Domestic Steelmakers Endorse Sector-Based Approach to Addressing Climate Change

14 December 2007 - In response to the International Iron and Steel Institute's address on climate change that was delivered during the UNFCCC COP-13 meeting, the American Iron and Steel Institute endorses the global sectoral approach to address climate change.