Steel News

Dofasco Posts Very Good First Quarter Results

28 April 2005 - Dofasco Inc. reported consolidated net income of $78.2 million on consolidated sales of $1,073.1 million for the first quarter of 2005. The company credits higher selling prices for its much-improved earnings compared to the first quarter of 2004.

Wheeling-Pittsburgh Steel Files Lawsuit Over Coal Supply

28 April 2005 - Wheeling-Pittsburgh Steel Corp. filed a lawsuit against Central West Virginia Energy Co. (CWVEC), a subsidiary of Massey Energy Co., alleging substantial monetary damages.

Court Grants Stelco Extension of Stay

27 April 2005 - Stelco Inc. applied for and was granted an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring until July 8, 2005. The stay period was previously scheduled to expire on April 29, 2005.

AK Steel Completes Blast Furnace Emission Control Project

27 April 2005 - AK Steel has completed installation of a new emission control system on its Middletown blast furnace.

Goodish Named USS Chief Operating Officer

27 April 2005 - United States Steel Corp. announced that John H. Goodish has been elected Executive Vice President and Chief Operating Officer.

Ipsco Reports Strong 1st Quarter Earnings

27 April 2005 - Ipsco Inc. announced net income of $154 million on sales of $746 million for the first quarter of 2005.

AK Steel Reports 1st Quarter Net Income

27 April 2005 - AK Steel today reported net income of $59.2 million on net sales of $1,422.5 million for the first quarter of 2005.

United States Steel Reports Strong 1st Quarter Results

27 April 2005 - United States Steel Corp. reported net income of $455 million on net sales of $3.76 billion for the first quarter of 2005.

Carpenter Technology Reports 3rd Quarter Results

26 April 2005 - Carpenter Technology Corp. today reported record net income of $35.3 million on record net sales of $342.1 million for the third fiscal quarter ended March 31, 2005. The company says results reflect favorable market conditions and a continued focus on costs through lean and variation reduction.

Universal Stainless Reports Record 1st Quarter Sales

26 April 2005 - Universal Stainless & Alloy Products, Inc. reported net income of $2.9 million on record sales of $43.0 million for the first quarter of 2005.

Timken Earns General Motors 2004 Supplier of the Year

26 April 2005 - The Timken Corp. has been named as a General Motors Supplier of the Year for its overall business performance in providing GM with world-class parts and services.

Wheeling-Pittsburgh Reaches Settlement Agreement with OSHA

26 April 2005 - The U.S. Labor Department's Occupational Safety and Health Administration (OSHA) has entered into a settlement agreement with Wheeling-Pittsburgh Steel Corp., Follansbee, W.Va.

Stelco Court Monitor Files 26th Report

26 April 2005 - Stelco Inc.’s court-appointed Monitor has filed its twenty-sixth Report regarding the company's Court-supervised restructuring. The Report provides an update on Stelco’s operations and finances, including a first-quarter production and shipping summary by business operation, a review of market and pricing conditions, cash flow results for the period January 29, 2005 to April 15 of this year, and cash flow forecasts for the period April 16, 2005 to July 8, 2005. Additional portions of the Report review previously announced developments.

Allegheny Technologies Announces Strong 1st Quarter Results

25 April 2005 - Allegheny Technologies Inc. reported net income of $66.3 million on sales of $879.6 million for the first quarter of 2005.

Carpenter Technology Implements Titanium Surcharge

22 April 2005 - Carpenter Technology Corp.’s Specialty Alloys Operations unit will begin to include titanium in its raw material surcharge formula for titanium-bearing specialty alloys.

Stelco and USWA Reach Agreement on Near Term Plans

22 April 2005 - Stelco Inc. has reached agreement with the USWA on the next steps in the company's capital raising process and restructuring. The agreement was submitted to and approved by the Superior Court of Justice (Ontario) on Thursday, April 21, 2005.

Nucor Reports Solid First Quarter Earnings

22 April 2005 - Nucor Corp. announced consolidated net earnings of $354.7 million on consolidated net sales of $3.32 billion for the first quarter of 2005.

Quanex Expects Record Diluted EPS from Continuing Operations in Q2

21 April 2005 - Quanex Corp. announced that it expects to report record fiscal second quarter diluted earnings per share from continuing operations when results are announced on May 26, 2005. Diluted earnings per share from continuing operations are expected to be in the range of $1.80 to $1.85, compared to the $0.43 reported in the year-ago quarter.

Timken Announces New Vice Chairman

20 April 2005 - The Timken Co.’s Board of Directors has elected Ward J. ("Tim") Timken Jr. to the position of Vice Chairman — Board of Directors.

Timken Doubles EPS on Record First Quarter Sales and Net Income

20 April 2005 - The Timken Co. reported record net income of $58.2 million on record sales of $1.3 billion for the first quarter of 2005.