Steel News

Duisburg Steel Producers Extend Long-term Supply Agreements

01 March 2005 - Three Duisburg steel companies — ThyssenKrupp Stahl AG, Mittal Steel Ruhrort and TSTG Schienentechnik — have enjoyed close ties in the supply of pig iron and crude steel for more than seven years. The ties are based on contractual arrangements set up in 1997 covering a ten-year period upon the sale of the Ruhrort and Hochfeld plants by the former Thyssen Stahl AG.

ThyssenKrupp to Strengthen Terni Site with 124 Million Euro Investment

01 March 2005 - ThyssenKrupp Steel AG will strengthen ThyssenKrupp Acciai Speciali Terni with an investment of €124 million in stainless steel production by 2006. The investment will feature a new €30 million cold-rolling mill, which is scheduled to start production as early as 2006.

Quanex Reports First Quarter 2005 Results

01 March 2005 - Quanex Corp. reported record net income from continuing operations of $33.7 million on record net sales of $470.2 million for its fiscal first quarter.

Stelco Comments on Court Decisions

28 February 2005 - Stelco Inc. commented on the Court hearing held Friday. Feb. 25, in the matter of the company's Court-supervised restructuring.

Nucor Slates Vacuum Degassers for Decatur and Hickman

28 February 2005 - Nucor Corp. announced plans to install vacuum degassers at the sheet mill in Decatur, Ala., and at the sheet mill in Hickman, Ark.

Stelco Court Monitor Files 19th Report

25 February 2005 - Stelco Inc.’s court-appointed Monitor has filed its Nineteenth Report regarding the company's Court-supervised restructuring. The Report outlines progress in the company’s capital raising and asset sale process, and the retired salaried employees' request for a bid review committee.

Ispat Inland Reports Record Earnings in 2004

24 February 2005 - Ispat Inland Inc. reported net income of $41.7 million on sales revenue of $811.0 million for the fourth quarter, and record net income of $258.7 million on sales revenue of $3,157.6 million for the year 2004.

Gallatin Steel and Employees Support Tsunami Relief Effort

23 February 2005 - Gallatin Steel and its employees have contributed $105,490 to the tsunami relief effort in South Asia.

USS To Build Automotive Hot Dip Galv Line in Slovakia

23 February 2005 - United States Steel Corp. will build a new hot dip galvanizing (HDG) facility at U. S. Steel Kosice (USSK), the company's Slovakian steelmaking operation.

Ispat Inland Seeks Consents from Note Holders

22 February 2005 - Ispat Inland ULC is soliciting consents from holders of its outstanding Senior Secured Floating Rate Notes due 2010 and 9.75% Senior Secured Notes due 2014 for amendments to the indenture governing the Notes.

U. S. Steel Endorses Michigan Tax Package

22 February 2005 - United States Steel Corp. announced its support of Gov. Jennifer Granholm's major reform of the Single Business Tax (SBT), saying the package, as proposed by the governor, would create an incentive for manufacturers to invest in the state, help stem the state's loss of high-paying manufacturing jobs, and boost the security of the 2,400 jobs at the company's Great Lakes Works in Ecorse and River Rouge.

Stelco Board Commences Review of Bids

21 February 2005 - Stelco Inc.’s Board of Directors has commenced its review of bids submitted under the Court-approved capital raising and asset sale process.

Nucor Restarts Upgraded Darlington Bar Mill

18 February 2005 - Nucor recently restarted hot run operation on its Darlington No. 2 Bar Mill following a major upgrade by Danieli. The upgrade project targeted increased plant uptime and efficiency.

Ipsco Establishes Frontier Pipe Research Unit

18 February 2005 - Ipsco Inc. announced it will invest $3.5 million to set up a state-of-the-art research unit dedicated to accelerating development of the company's large-diameter capability. The specialized research capability will be used to focus on the specific steel and pipe needs for large diameter energy transmission lines, further extending Ipsco's current knowledge in this area.

Cliffs Could Soon Declare Portman Takeover Offer Unconditional

18 February 2005 - Cleveland-Cliffs Inc. announced that its offer to acquire all of the shares in Portman Limited, made through its wholly owned subsidiary Cleveland-Cliffs Australia Pty Limited, will be declared free of all conditions if its relevant interest in Portman shares exceeds 51% (by number) by 5:00 p.m. (Sydney time) on Tuesday, March 1, 2005. The company also stated that it was extending the offer period under the offer to 7:00 p.m. (Perth time) on Friday, March 11, 2005 (unless further extended or withdrawn).

AK and USWA Reach Early Extension Agreement at Mansfield Works

18 February 2005 - AK Steel Corp. has reached agreement with the United Steelworkers of America (USWA) to extend for nearly two years a collective bargaining agreement covering USWA-represented employees at the company's Mansfield Works in Ohio.

AK Steel Announces March Surcharges

17 February 2005 - AK Steel will add a $214 per ton surcharge to invoices for flat-rolled carbon steel products shipped in March 2005, an increase of $18 from February's surcharge of $196 per ton. AK Steel also advises that the March 2005 surcharge for electrical steel products will drop to $340 per ton, a decrease of $70 from the February surcharge of $410 per ton for those products.

Wheeling-Pittsburgh Adopts Shareholder Rights Plan

17 February 2005 - Wheeling-Pittsburgh Corp.’s Board of Directors has adopted a shareholder rights plan that is primarily designed to protect the company's net operating loss carryforwards (NOLs) for tax purposes.

Cleveland-Cliffs Reports Record Results for 2004

17 February 2005 - Cleveland-Cliffs Inc. reported record fourth-quarter net income of $203.3 million and record net income of $323.6 million for the year 2004. All common shares and per-share amounts have been adjusted retroactively to reflect the December 2004 two-for-one stock split, and all diluted per-share amounts reflect the potential dilutive effect of the Company's convertible preferred stock.

Gerdau Ameristeel Announces New Vice President and General Counsel

16 February 2005 - Gerdau Ameristeel Corp. announced that Robert E. Lewis has joined Gerdau Ameristeel as Vice President and General Counsel. Mr. Lewis will also serve as Corporate Secretary for the company’s Board of Directors.