Steel News

U. S. Steel Appoints Senior Counsel for Tubular Unit

12 July 2007 - United States Steel announces the appointment of George J. Stewart as Senior Counsel—Tubular.

OSHA Cites Republic for Safety and Health Violations

12 July 2007 - The Occupational Safety and Health Administration proposes $163,000 in fines against Republic Engineered Products for alleged multiple willful, serious and repeat violations of federal workplace safety and health standards.

Chaparral Steel Reports Record Year-End Earnings

12 July 2007 - Chaparral Steel reports record net income of $80.2 million on net sales of $489 million for the fourth quarter, and record net income of $269.3 million on net sales of $1723 million for the 2007 fiscal year.

Future a Little Brighter for Potential Hamilton Specialty Buyer

11 July 2007 - Reaching a tentative agreement with the possible buyer for Hamilton Specialty Bar, steelworkers say the plant could reopen as early as August.

Gerdau Ameristeel to Acquire Chaparral Steel

11 July 2007 - Gerdau Ameristeel signs definitive merger agreement to acquire Chaparral Steel for US$86.00 per share in cash, valuing Chaparral Steel's equity at US$4.22 billion.

Schnitzer Steel Reports Record 3rd Quarter Earnings

10 July 2007 - Schnitzer Steel Industries reports net income of $44 million for the fiscal 2007 third quarter, a third-quarter record, and net income of $93 million for the first nine months ended May 31, 2007.

UAW Members Ratify Contract at Rockport Works

10 July 2007 - Members of the United Auto Workers Local 3044 ratify a new six-year labor agreement covering about 190 hourly production employees at AK Steel's Rockport Works.

Carpenter Announces New Chief Financial Officer

10 July 2007 - Carpenter Technology announces that K. Douglas Ralph has joined the company as Senior Vice President—Finance and Chief Financial Officer, effective immediately.

WCI CEO Retires as Earnings Expectations are Downgraded

09 July 2007 - WCI Steel announces the immediate retirement of Patrick G. Tatom from his roles as President, CEO, and a member of the Board of Directors. The company has also issued a warning statement about second-quarter earnings.

Key Management Changes Continue to Ripple through U. S. Steel

09 July 2007 - United States Steel announces key management changes at Gary Works, Mon Valley Works, and its ProCoil Co. steel processing subsidiary in Canton, Mich.

Timken to Supply Bearings, Maintenance Services for JSW Cold Mill

06 July 2007 - Timken will supply JSW Steel with bearings for its new cold-rolling steel mill, and will also supply rolling mill maintenance services once the mill’s construction is complete.

Pieces Continue to Fall Into Place for U. S. Steel Tubular

06 July 2007 - United States Steel appoints William P. McNally Controller-Tubular for the company’s tubular products and services business, headquartered in Dallas, Texas.

Steel Dynamics Completes Acquisition of The Techs

05 July 2007 - Steel Dynamics completes its acquisition of The Techs for approximately $370 million, including certain purchase-price adjustments made at closing.

Jury Awards Wheeling-Pittsburgh $220 Million in Lawsuit against Massey

04 July 2007 - A Brooke County, W.Va., jury unanimously awards Wheeling-Pittsburgh $219.85 million in its lawsuit against Massey Energy and subsidiary Central West Virginia Energy Co.

Ipsco Receives Consents for Cash Tender Solicitation

03 July 2007 - Ipsco has received consents from holders of approximately 99.15% of its outstanding 8-3/4 percent Senior Notes due 2013 for its previously announced tender offer and consent solicitation.

U S Steel Names Vice President of Human Resources

02 July 2007 - United States Steel announces that Susan M. Suver has been named Vice President, Human Resources, reporting to Thomas W. Sterling, Senior Vice President—Administration.

Steel Dynamics Increases Share Repurchase Program

02 July 2007 - Steel Dynamics’ Board of Directors approves a 5-million-share increase to its existing share repurchase program.

Wheeling-Pittsburgh Revises Second-Quarter Expectations

02 July 2007 - Unplanned outages, high scrap costs, and sluggish demand for flat-rolled products are prompting Wheeling-Pittsburgh to lower its second-quarter earnings expectations.

AK Steel and UAW Reach Tentative Agreement at Rockport

02 July 2007 - AK Steel and the United Auto Workers reach a tentative agreement on a new labor contract at the company's Rockport Works in Indiana.

Worthington Reports Fourth Quarter and Fiscal Year Results

29 June 2007 - Worthington Industries reports net earnings of $38.2 million on net sales of $786.6 million for the fourth quarter, and net earnings of $113.9 million on net sales of $2,971.8 million for the twelve-month period ended May 31, 2007. Annual earnings were the third best in the company’s history, after fiscal 2005 and fiscal 2006.