Steel News

Mittal Steel ISG USA Repurchases Bonds

25 July 2005 - Mittal Steel ISG USA Inc. announced the repurchase of $100 million aggregate principal amount of its 6.50% Notes due April 15, 2014, pursuant to a single negotiated purchase transaction.

Dofasco Completes Acquisition of Quebec Cartier Mining

25 July 2005 - Dofasco has successfully completed its acquisition of Quebec Cartier Mining Co. (QCM) following receipt of regulatory approval.

Quanex Updates Third Quarter Outlook

22 July 2005 - Quanex Corp. announced that it expects to report record fiscal third quarter diluted earnings per share from continuing operations when results are announced on August 25, 2005.

Universal Stainless Reports Strong 2nd Quarter Results

22 July 2005 - Universal Stainless & Alloy Products, Inc. reported net income of $3.3 million on sales of $41.9 million for the second quarter of 2005.

Nucor Reports Record 2nd Quarter Results

22 July 2005 - Nucor Corp. announced consolidated net earnings of $322.7 million on consolidated net sales of $3.15 billion for the second quarter, and consolidated net earnings of $677.4 million on consolidated net sales of $6.47 billion for the first half of 2005.

Roanoke Electric Steel Declares 187th Consecutive Dividend

21 July 2005 - Roanoke Electric Steel Corp.’s Board of Directors declared the 187th consecutive quarterly common stock cash dividend in the amount of 11 cents per share. The decision was made at a regular meeting held on July 19, 2005.

Schnitzer Steel Plans to Attain a Majority of Independent Directors

20 July 2005 - Schnitzer Steel Industries, Inc.’s Board has elected Jill Schnitzer Edelson to fill a vacant seat on the Board. The company’s Board has also taken steps to have a majority of its Board be independent directors as defined by NASDAQ rules. As part of its planned transition, the Board accepted the resignations from the Board of three Schnitzer family members.

Timken Chairman to be Nominated U.S. Ambassador to Germany

20 July 2005 - The AIST Foundation has announced the 2005-2006 scholarship recipients for the following endowed scholarships.

Court Grants Stelco Additional Extension of Stay Period

19 July 2005 - Stelco Inc. was granted an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring. Scheduled to expire July 18, 2005, the new order extends Stelco’s stay period until September 9, 2005.

Steel Dynamics Reports 2nd Quarter Net Income

19 July 2005 - Steel Dynamics, Inc. announced second quarter 2005 earnings of $51 million on net sales of $546 million.

AK Steel Announces August Surcharges

18 July 2005 - AK Steel will add a $183 per ton surcharge to invoices for flat-rolled carbon steel products shipped in August 2005. A $115 per ton surcharge will be added to invoices for electrical steel products shipped in August.

Stelco Court Monitor Files 33rd Report

18 July 2005 - Stelco Inc.’s court-appointed Monitor has filed its thirty-third report regarding the company's Court-supervised restructuring. The Report provides updated information regarding meetings held with shareholder groups, the lack of consensus among shareholder groups, current industry conditions and their impact on Stelco’s financial results, and Stelco’s request for extension of the stay period.

Gallatin Steel Celebrates 10th Anniversary

18 July 2005 - Gallatin Steel recently celebrated 10 years in business during a festive anniversary celebration attended by a crowd of nearly 500 attendees—including current and former employees, customers, vendors and contractors.

Mittal Steel Included in Fortune Global 500

18 July 2005 - Mittal Steel Co. NV has been included for the first time in Fortune Magazine's Global 500 list, the ranking of the world's largest corporations.

Stelco Files Restructuring Plan Outline

18 July 2005 - Stelco Inc. has filed a restructuring plan outline that it says is designed to ensure a viable company over the long term and provide lasting benefits for its stakeholders.

WCI Steel Names Walsh Vice President of Operations

15 July 2005 - WCI Steel, Inc. announced today that James F. Walsh has been named Vice President—Operations, effective July 1, 2005.

Bayou Steel Announces Recapitalization Plan

15 July 2005 -  

Blast Furnace Upgrade to Kick off 4-Year Modernization Program at Severstal

15 July 2005 - Severstal North America, Inc. has filed a permit to install application with the Michigan Department of Environmental Quality to expand and enhance the larger of its two blast furnaces. The company will invest more than $180 million to add capabilities that will improve furnace productivity, efficiency and reliability and significantly reduce particulate emissions associated with the ironmaking process in its Dearborn-based steelmaking operations.

California Steel Reports 2nd Quarter Results

14 July 2005 - California Steel Industries, Inc. reported net income of $9.7 million on sales of $306.6 million for the quarter ended June 30, 2005.

Fatal Accident at Republic Leads to OSHA Citations

14 July 2005 - The U.S. Labor Department's Occupational Safety and Health Administration (OSHA) has cited Republic Engineering Products, Inc., Lorain, Ohio, for alleged willful, serious and repeated workplace safety violations.