Steel News

U. S. Steel Announces Additional Appointments to Tubular Business Unit

27 July 2007 - United States Steel announces three additional operations appointments for its tubular business unit.

Quanex Looks to Higher End of Earnings Guidance

26 July 2007 - Quanex expects to report fiscal third quarter 2007 diluted earnings per share from continuing operations in a range of $0.94 to $0.98, including an estimated $0.03 per share non-cash LIFO charge.

CMC Subsidiary to Install Flexible Medium Section Rolling Mill

26 July 2007 - Commercial Metals’s CMCZ steel minimill in Zawiercie, Poland, will install a new flexible medium section rolling mill at an estimated cost of $170 million.

Allegheny Technologies Reports 2nd Quarter Earnings

26 July 2007 - Allegheny Technologies Inc. reported net income of $206.5 million on sales of $1.47 billion for the second quarter, and net income of $404.3 million on sales of $2.84 billion for the six months ended June 30, 2007.

SMS Demag to Help Boost Production at Nucor Hickman

26 July 2007 - Nucor awards SMS Demag a contract to modernize the finishing mill at its CSP plant in Hickman, Ark., including replacement of the drive trains on mill stands F1 and F2 and modification of these stands to accommodate larger work rolls.

Stelco Reports 2nd Quarter Results

26 July 2007 - Stelco reports EBITDA of $53 million and a $19-million net loss before income tax,  showing solid improvements over the previous quarter.

AK Steel to Redeem Remaining Senior Notes

25 July 2007 - AK Steel announced it will redeem the remaining $150 million of its outstanding 7 7/8% Senior Notes Due February 15, 2009.

AK Steel Reports Second Quarter Net Income

25 July 2007 - AK Steel reported net income of $109.9 million on record net sales of $1,869.5 million for the second quarter, and net income of $172.6 million on net sales of $3.6 billion for the first six months of 2007.

U.S. Steel Reports 2nd Quarter Income

25 July 2007 - United States Steel reports net income of $302 million on net sales of $4.2 billion for the second quarter, and net income of $575 million on net sales of $8.0 billion for the first six months of 2007.

AK Steel to Make 3rd Early Pension Fund Contribution in 2007

24 July 2007 - AK Steel’s board of directors authorizes the company to make another early contribution to its pension trust fund, which will be the third such payment in 2007.

Commercial Metals to Acquire Croatian Mill

24 July 2007 - Commercial Metals signs definitive purchase agreement with the Croatian government to acquire Valjaonica Cijevi Sisak for HRK 37 million for the shares, in addition to  (about U.S. $7 million), assume debt of over HRK 200 million (about U.S. $41 million), invest about U.S. $40 million in capital expenditures, and increase working capital by approximately U.S. $39 million f

Steel Dynamics Reports Second Quarter Results

24 July 2007 - Steel Dynamics reports earnings of $94 million on net sales of $911 million for the second quarter, and net income of $196 million on net sales of $1.8 billion for the first half of 2007.

AK Steel Makes Addition to Board of Directors

23 July 2007 - AK Steel announced the election of Ralph S. (Mike) Michael III to its board of directors, effective immediately.

SeverCorr Welcomes New Process Steel to the Neighborhood

20 July 2007 - New Process Steel is the latest business partner to join the SeverCorr site near Columbus, Miss.; its facility will provide downstream processing, including slitting and blanking, for light-gauge pickled, cold rolled and galvanized products

Nucor Reports Results for First Half of 2007

20 July 2007 - Nucor announces consolidated net earnings of $344.9 million on consolidated net sales of $4.17 billion for the second quarter, and consolidated net earnings of $725.9 million on consolidated net sales of $7.94 billion for the first half of 2007.

Ipsco Unveils New Senior Management Team

20 July 2007 - Ipsco announces the appointment of its new senior management team following completion of the company’s acquisition by SSAB Svenskt Stal AB.

SSAB Completes Acquisition of Ipsco

19 July 2007 - SSAB Svenskt Stal AB has successfully completed its acquisition of Ipsco for U.S. $160 per share.

CMC Issues $400,000,000 of Senior Unsecured Notes

18 July 2007 - Commercial Metals has sold $400 million principal amount of Senior Unsecured Notes due 2017.

Ontario Superior Court Approves Ipsco-SSAB Plan of Arrangement

18 July 2007 - The Ontario Superior Court of Justice issues the final order approving the Plan of Arrangement for SSAB’s acquisition of all outstanding Ipsco shares.

CMC Chairman Adopts 10b5-1 Stock Trading Plan

17 July 2007 - Commercial Metals Board Chairman Stanley A. Rabin has executed a prearranged systematic personal stock trading plan pursuant to, and intended to comply with, Rule 10b5-1 under the Securities Exchange Act of 1934 and with CMC's policies with respect to insider sales.