Steel News

Timken Names Senior Technology Vice President

08 December 2005 - The Timken Co. announced the appointment of Alastair R. Deane as Senior Vice President — Technology, reporting to President and CEO James W. Griffith. Deane will lead Timken's global technology efforts in support of generating value and achieving the company's growth targets.

Carpenter Raises Prices on Premium Melted Specialty Alloys

08 December 2005 - Carpenter Technology Corp.’s Specialty Alloys Operations unit announced that it will increase base prices an average of 10% on all premium-melted alloys in all product forms. The increase is effective immediately on all new orders.

Stelco Court Monitor Files 41st Report

08 December 2005 - Stelco Inc.’s court-appointed Monitor has filed its forty-first report regarding the company's Court-supervised restructuring.

AK Steel Presents Supplier of the Year Awards

07 December 2005 - AK Steel recently honored six of its suppliers as part of its "2005 Supplier of the Year" program.

Worthington Names COO, President of Cylinders

07 December 2005 - Worthington Industries' Chairman and CEO John P. McConnell announced the appointment of George P. Stoe as Executive Vice President and Chief Operating Officer. Harry A. Goussetis, Vice President of Human Resources, succeeds Stoe as President of Worthington Cylinders.

Stelco Stay Extended to December 12

07 December 2005 - Stelco Inc. was granted an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring until December 12, 2005.

USW Locals Ratify Labor Agreements with Ipsco

06 December 2005 - Members of United Steelworkers Locals 5890 and 6673 have ratified agreements for early renewal of collective agreements at Ipsco's facilities in Regina, Sask., and Calgary, Alta. The Locals represent approximately 1,000 workers at the two facilities.

Dofasco and ThyssenKrupp Announce Mailing of Bid Circular

06 December 2005 - ThyssenKrupp AG has mailed its bid circular to Dofasco shareholders regarding its offer to acquire all of Dofasco's outstanding common shares in a friendly, all-cash transaction.

Timken Receives Disbursement Under U.S. Trade Law

05 December 2005 - The Timken Co. has received approximately $81 million under the U.S. Continued Dumping and Subsidy Offset Act (CDSOA) for 2005.

Commerce Department Initiates Investigations on Wire Rod Imports

05 December 2005 - The Department of Commerce has announced it will initiate antidumping duty investigations on imports of Carbon and Certain Alloy Steel Wire Rod from P.R. China, Germany, and Turkey.

Paulson Announces Slate for Algoma Shareholder Meeting

02 December 2005 - Paulson & Co. Inc., a major shareholder of Algoma Steel Inc., has announced its nominees for the Algoma board of directors. In November, Paulson had requisitioned a special shareholder meeting to replace a majority of current Algoma directors.

Stelco to Sell AltaSteel

02 December 2005 - Stelco Inc. has entered into a definitive agreement for the sale of AltaSteel Ltd.’s assets of to Scaw Metals Group, one of Africa's largest diversified iron, steel and engineering works.

Steel Dynamics to Expand Bar Processing at Pittsboro

01 December 2005 - Steel Dynamics, Inc. announced plans to expand operations at its Bar Products mill in Pittsboro, Ind., with additional downstream finishing operations for its special-bar-quality (SBQ) steel bar production.

Mittal to Restructure Weirton Plant Around Tinplate Operations

01 December 2005 - Mittal Steel USA announced to employees at its Weirton, W.Va., facility that it does not plan to restart the plant's ironmaking and steelmaking operations.

ThyssenKrupp Steel Employees Receive Special Bonus

01 December 2005 - The almost 20,000 employees of ThyssenKrupp Steel AG are to share in the record earnings of the largest single company in the ThyssenKrupp Group.

Siemens VAI to Replace Cosipa Slab Caster

01 December 2005 - Siemens’ Industrial Solutions and Services Group (I&S) has received an order from flat-steel producer Companhia Siderúrgica Paulista (Cosipa), Brazil, to replace their existing Slab Caster No. 3 located in Cubatão.

Restructuring Efforts Pay off for ThyssenKrupp Electrical Steel

01 December 2005 - ThyssenKrupp Steel is beginning to reap the benefits of restructuring its electrical steel operations. For the 2004/2005 fiscal year, subsidiary ThyssenKrupp Electrical Steel GmbH reported an eight-figure profit, which compares with a high eight-figure loss a year earlier.

Mittal Steel Increases Shareholding in Mittal Steel Zenica to 92%

01 December 2005 - Mittal Steel Co. NV has acquired a further 41% stake in Mittal Steel Zenica from the Kuwaiti Investment Agency for US$98 million.

Arcelor to Buy Stake in Two Costa Rican Long Carbon Steel Producers

01 December 2005 - Arcelor's Brazilian unit Arcelor Brasil has signed an agreement to buy a 50% stake of the capital of the Costa Rican companies Laminadora Costarricense SA and Trefileria Colima from Grupo Pujol Marti.

Arcelor Enters Into Strategic Partnership for Erdemir

01 December 2005 - Arcelor and the Turkish pension fund Ordu Yardimlasma Kurumu (OYAK) have agreed that Arcelor will acquire 41% of Ataer Holding AS, a wholly owned OYAK subsidiary that was founded to acquire a 49.29% equity stake of Eregli Demir ve Celik Fabrikalari AS (Erdemir).