Steel News

Wheeling-Pittsburgh Sets Special Meeting of Stockholders

29 October 2007 - Wheeling-Pittsburgh schedules the special meeting of its stockholders to consider and vote on the proposed business combination with Esmark.

Steel Dynamics Completes OmniSource Acquisition

29 October 2007 - Steel Dynamics completes its acquisition of OmniSource for approximately $1.1 billion, including $425 million in cash, 9.7 million shares of SDI common stock, and the assumption of approximately $220 million of debt, which was repaid on closing.

Stelco Shareholders Okay Acquisition by U.S. Steel

29 October 2007 - Stelco shareholders overwhelmingly approve the corporation’s arrangement for its acquisition by United States Steel during a special meeting of shareholders.

Parsytec to Supply Surface Inspection Systems for Anshan

26 October 2007 - Parsytec AG will install surface inspection systems to inspect silicon steel processed on two continuous annealing lines at Anshan Iron & Steel’s new silicon plant in Angang.

SeverCorr Reaches Production in Record Time

26 October 2007 - SeverCorr officials and their supporters celebrate the facility’s accomplishments, including complete startup less than two years after groundbreaking.

Cleveland-Cliffs Completes Pinnacle Mine Longwall Move

25 October 2007 - Cleveland-Cliffs resumes normal production at Pinnacle Mine after completing the move of its longwall plow system because of sandstone intrusions in the coal panel.

Universal Stainless Reports 3rd Quarter Results

25 October 2007 - Universal Stainless & Alloy Products reports net income of $5.5 million on sales of $62.0 million for the third quarter, and net income of $18.1 million on sales of $180.3 million for the first nine months of 2007.

Stelco Reports 3rd Quarter Results, Status of Acquisition

25 October 2007 - Stelco reports net income of $38 million on sales of $634 million for the quarter, and a net loss of $42 million on sales of $1.96 billion for the nine months ended September 30, 2007.

Allegheny Technologies Reports 3rd Quarter Earnings

25 October 2007 - Allegheny Technologies reports net income of $193.9 million on sales of $1.33 billion for the third quarter, and net income of $598.2 million on sales of $4.18 billion for the first nine months of 2007.

Wheeling-Pittsburgh and Esmark Amend Merger Agreement

24 October 2007 - Wheeling-Pittsburgh and Esmark enter into an amendment to their definitive merger agreement to adjust the timing of the put and purchase rights that will be granted to Wheeling-Pittsburgh stockholders in connection with the combination.

AK Steel Reports 3rd Quarter Results

24 October 2007 - AK Steel reports net income of $108.4 million on net sales of $1,721.7 million for the third quarter, and net income of $281.0 million on record net sales of $5,311.1 million for the first nine months of 2007.

AK Steel to Upgrade Specialty Steel Operations

23 October 2007 - AK Steel is planning capital investments including a new electric arc furnace, new ladle metallurgy furnace, and additional electrical steel finishing equipment at its specialty steel operations in Butler and Zanesville.

Universal Stainless Announces New Addition to Board

22 October 2007 - Universal Stainless & Alloy Products announces that Dennis M. Oates has joined the company's Board of Directors, filling the independent Board seat left vacant by the retirement of George Keane in May.

Timken to Increase SBQ Product Prices

22 October 2007 - Timken plans to increase base prices on hot-rolled, cold-finished, and single-thermal-treated special bar quality products by $30 per ton.

Gerdau Ameristeel Announces Selected 3rd Quarter Results

22 October 2007 - Gerdau Ameristeel reports selected preliminary comparative financial and operating data for the third quarter and nine months ended September 30, 2007 and 2006, including results for Chaparral from the date of its acquisition on September 14, 2007.

EPA Raises Additional Objections to Draft Permit for Gary Works

19 October 2007 - The U.S. EPA outlines three more objections to the draft wastewater discharge permit proposed by the State of Indiana for U.S. Steel’s Gary Works, following initial objections raised by EPA earlier this month.

Nucor Reports 3rd Quarter Results

19 October 2007 - Nucor reports consolidated net earnings of $381.2 million on consolidated net sales of $4.26 billion for the third quarter, and consolidated net earnings of $1.11 billion on consolidated net sales of $12.20 billion for the first nine months of 2007.