Steel News

Commercial Metals Reports Record 4th Quarter Earnings

20 October 2004 - Commercial Metals Co. reported record net earnings of $47.4 million on net sales of $1.5 billion for the fourth quarter and net earnings of $132.0 million on net sales of $4.8 billion for the year ended August 31, 2004.

U. S. Steel Names General Manager of Processed Products

19 October 2004 - United States Steel Corp. announced that it will centralize its sheet products processing and delivery operations and has appointed Lisa A. Roudabush as General Manager—Processed Products to oversee the new organization.

Steel Dynamics Reports Record 3rd Quarter Sales and Earnings

19 October 2004 - Steel Dynamics, Inc. announced record third quarter earnings of $114 million on record net sales of $635 million, and net income $213 million on net sales of $1545 million for the third quarter and nine months ended Sep. 30, 2004, respectively.

Gerdau Ameristeel Prices Offering of Common Shares

18 October 2004 - Gerdau Ameristeel Corp. announced that its registration statement has become effective under the U.S. Securities Act of 1933 and that it has obtained a receipt for a final prospectus from Canadian securities regulatory authorities in connection with its offering of 70 million common shares.

Strong U.S. Results to Help Ipsco Eliminate Tax Valuation Allowance

18 October 2004 - Ipsco Inc. announced that due to continued strong operating earnings, it expects to eliminate the valuation allowance related to net operating losses in the United States.

California Steel Reports Record 3rd Quarter Results

18 October 2004 - California Steel Industries, Inc. (CSI) reported its best quarterly results in the company's 20-year history, with net income of $46.1 million on sales of $388.6 million for the third quarter.

ATI Allvac Commissions Expanded Richburg Rolling Mill

15 October 2004 - ATI Allvac earlier this week commissioned its recently expanded Richburg, S.C., high performance metals long products rolling facility. The expansion significantly enlarges the facility's operating capacity and increases value-added process capabilities including coil processing.

Tenth Monitor Report Available for Stelco Restructuring

15 October 2004 - Stelco Inc. announced the filing of the Tenth Report of the Monitor for the company's Court-supervised restructuring.

AK Steel Earns Integris Metals Quality Award

14 October 2004 - Integris Metals has presented its Award of Excellence to AK Steel for quality performance. The award is in recognition of AK Steel's quality performance from the fourth quarter of 2003 through the third quarter of 2004.

Sheffield Steel Completes Consent Solicitation

13 October 2004 - Sheffield Steel Corp. recently completed successfully its consent solicitation with respect to certain amendments to the Indenture for its 11-3/8% Senior Secured Notes due 2011 (CUSIP 821266AH6).

Cliffs Announces Management Changes

12 October 2004 - Cleveland-Cliffs Inc. announced that Edward C. Dowling Jr., Executive Vice President—Operations, has elected to resign to accept a senior executive position with a major global mining company. Mr. Dowling joined Cleveland-Cliffs in April 1998 as Senior Vice President—Operations and made numerous contributions during his tenure with the company.

Cliffs Announces Labor Agreement at Wabush Mines

12 October 2004 - Cleveland-Cliffs Inc. announced that contract settlements have been reached and ratified by the United Steelworkers Union, representing approximately 575 hourly employees at Wabush Mines in Canada.

SMI Seguin Meltshop Back to Full Production with Reinstalled Transformer

12 October 2004 - Commercial Metals Co. announced that Structural Metals, Inc. (SMI Texas) has completed reinstallation of its repaired primary electric arc furnace transformer. The Seguin, Texas, meltshop is now back in full production.

Stelco Customer Reacts to 90-Day Notice

11 October 2004 - One of Stelco Inc.’s largest customers has served notice that it will remove its business from the company for 2005 unless it receives assurances of Stelco's ability to provide security of supply through the coming year.

Steelworkers Vote to Strike at Stelco-Owned AltaSteel

11 October 2004 - Members of the United Steelworkers have voted over 82% to strike if necessary at Stelco-owned AltaSteel. The vote was completed late Friday with a turnout of 197 out of 270 eligible voters.

Stelco Earns International Automotive Quality Certification

08 October 2004 - Stelco Inc. has been awarded ISO/TS 16949:2002 Quality Management System certification for its Cold Rolled and Coated Products Division.

ISG Achieves Record Shipments in Third Quarter

08 October 2004 - International Steel Group Inc. announced that it achieved record shipments of approximately 4,039,000 tons for the third quarter of 2004.

ISG Extends Exchange Offer Deadline

07 October 2004 - International Steel Group Inc. (ISG) is extending the expiration date for its offer to exchange up to $600 million of its 6.5% Senior Notes due 2014, which have been registered under the Securities Act of 1933, for any and all of its unregistered outstanding 6.5% Senior Notes due 2014 issued on April 14, 2004.

Bayou Steel Selects Pittsburgh Logistics to Manage Facility Transportation

07 October 2004 - Pittsburgh Logistics Systems, Inc. (PLS) has been selected by Bayou Steel Corp. to manage outbound transportation for its Leetsdale, Pa., distribution center.

Universal Stainless to Increase Tool Steel Plate Prices

06 October 2004 - Universal Stainless & Alloy Products, Inc. announced a 6% price increase effective on shipments scheduled for November 1, 2004 for all tool steel plate products manufactured at its Bridgeville, Pa., facility.