Steel News

Keystone Reports 2nd Quarter Results

15 August 2007 - Keystone Consolidated reports net income of $17.2 million on net sales of $122.7 million for the second quarter, and net income of $31.7 million on net sales of $235.8 million for the six months ended June 30, 2007.

Timken Realignment to Drive Growth, Performance

14 August 2007 - Timken will restructure the company into two divisions – a Steel Group and a new Bearings and Power Transmission Group - to support continued improvement in operational performance.

AK Steel Receives Supplier Excellence Award from Moen

13 August 2007 - AK Steel receives a supplier excellence award from Moen Inc. for exceeding Moen's expectations to consistently ship and meet delivery requirements during 2006.

Wheeling-Pittsburgh Reports 2nd Quarter Results

13 August 2007 - Unplanned outages at the EAF, higher-than-anticipated scrap costs, and weaker-than-expected market conditions contribute to Wheeling-Pittsburgh’s net loss of $41.6 million on net sales of $467.0 million for the quarter ended June 30, 2007.

Timken Bearings Equip Arcelor Mittal Steel Mill

10 August 2007 - Timken announces that it is the exclusive supplier of tapered, spherical and cylindrical roller bearings for Arcelor Mittal's new high-capacity hot-strip steel rolling mill currently under construction by Siemens in Krakow, Poland.

Chaparral Steel Announces Special Meeting and Record Dates

10 August 2007 - Chaparral’s Board of Directors schedules a special meeting of shareholders to vote on the proposal to adopt the Agreement and Plan of Merger for Gerdau Ameristeel’s acquisition of Chaparral Steel for a cash consideration of U.S. $86 per share.

OSHA Proposes Penalties Against 16 Companies at SeverCorr Construction Site

10 August 2007 - OSHA is proposing $72,775 in penalties against 16 companies involved in the construction of the new SeverCorr steel plant following inspections conducted between February and May 2007.

WCI Steel Reports 2nd Quarter Results

10 August 2007 - WCI Steel reports a net loss of $12.5 million for the quarter and a net loss of $16.8 million for the six-month period ended June 30, 2007; results were negatively impacted by a BOF baghouse installation, and unscheduled outages in the blast furnace and BOF.

Gerdau Ameristeel Reports 2nd Quarter Results

09 August 2007 - Gerdau Ameristeel Corp. reported net income of $139.1 million on net sales of $1.3 billion for the second quarter, and net income of $272.7 million on net sales of $2.7 billion for the six months ended June 30, 2007.

Dofasco Tubular to Sell Elizabethtown Tube Facility to Samuel Manu-Tech

09 August 2007 - Dofasco Tubular Products signs definitive purchase agreement for the sale of its Elizabethtown stainless tubemaking facility to Samuel Manu-Tech of Mississauga, Ont.

Justice Department Seeks Appointment of Trustee to Sell Sparrows Point

07 August 2007 - The Department of Justice asks a federal judge to appoint a trustee to sell Mittal Steel's Sparrows Point facility, as Mittal has failed to complete a sale prior to the consent decree deadline of August 6, 2007.

AK Steel Announces September Electrical Surcharges

06 August 2007 - AK Steel will add a $225 per ton surcharge to invoices for electrical steel products shipped in September 2007.

Timken Joins Effort to Reduce Mercury Emissions

03 August 2007 - Timken announces its participation in the National Vehicle Mercury Switch Recovery Program, a program designed to reduce the levels of mercury emitted from automobile scrap used as raw material in the steelmaking process.

USW Responds to ArcelorMittal’s Sale of Sparrows Point Mill

03 August 2007 - The United Steelworkers affirms the sale ArcelorMittal USA’s Sparrows Point Plant to Esmark, noting that negotiations will soon begin with both the seller and the new buyer.

Nucor to Acquire LMP Steel & Wire

03 August 2007 - Nucor enters into an agreement to acquire assets of cold finish bar producer LMP Steel & Wire for a cash purchase price of approximately $28 million.

Worthington Industries to Acquire Wolfedale Cylinder Assets

02 August 2007 - Worthington Industries signed purchase agreement to acquire cylinder production assets from Wolfedale Engineering.

Cleveland-Cliffs Closes PinnOak Resources Acquisition

02 August 2007 - Cleveland-Cliffs has closed its previously announced acquisition of PinnOak Resources,a premium-quality metallurgical coal producer located in the United States.

EPA Cleanup Underway at Former Gulf States Steel Site

02 August 2007 - EPA Superfund removal actions have started at the former Gulf States Steel facility in Gadsden, Alabama—a short-term cleanup intended to stabilize the site and remove any hazards it may pose to human health and the environment.

ArcelorMittal Announces Sale of Sparrows Point

02 August 2007 - ArcelorMittal USA enters into an agreement to sell its Sparrows Point facility and related assets to a joint venture group backed by Esmark and Wheeling-Pittsburgh, along with various industry and institutional investors.

Gerdau Ameristeel Steel Helps Support new Dallas Cowboys Stadium

01 August 2007 - Gerdau Ameristeel’s threadbar steel will play a key role in construction of the new Dallas Cowboys stadium, which will be the largest domed structure in the world when it is completed in 2009.