Steel News

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.

Gerdau Ameristeel Files Prospectus for Share Offering

06 October 2004 - Gerdau Ameristeel Corp. has filed a preliminary short form prospectus with the securities regulatory authorities in all provinces and territories of Canada, and a registration statement on Form F-10 with the United States Securities and Exchange Commission, for a proposed offering in the United States and Canada of 70 million of its common shares.

AK Steel Bumps up 3rd Quarter Earnings Expectations

06 October 2004 - AK Steel anticipates reporting better-than-expected results for the third quarter of 2004.

USWA to Challenge Court Ruling on Former Republic Pensions

06 October 2004 - The United Steelworkers of America (USWA) intends to challenge last week's ruling by the United States Court of Appeals for the Sixth Circuit denying shutdown benefits to thousands of former employees of Republic Technologies International (RTI) in Ohio, Indiana, Pennsylvania, Illinois, and New York. The ruling overturned a September 30, 2003 decision by U.S. District Court Judge Peter Economus.

Mark Brandon Hired as Nucor Manager of Technical Business Development

06 October 2004 - Nucor Corp. announced the hiring of Mark M. Brandon to the position of Manager of Technical Business Development, effective October 11, 2004.

Stelco Adds Three More Facilities to the For-Sale List

06 October 2004 - Stelco Inc. has elected to pursue the sale of wholly owned subsidiaries AltaSteel Ltd. and Norambar Inc., as well as the company's 40% ownership interest in Camrose Pipe Co. Stelco had previously announced its decision to seek buyers for Stelfil, Stelpipe and Stelwire.

Universal Stainless Increases Line of Credit

05 October 2004 - Universal Stainless & Alloy Products, Inc. has increased its revolving credit facility with PNC Bank to $15 million from $6.5 million and extended the term to June 30, 2006. All other terms of the credit facility remain unchanged.

Gerdau AmeriSteel to Install JetBOx Technology on Consteel EAF

05 October 2004 - Gerdau AmeriSteel has awarded a contract to Process Technology International, Inc. (PTI) to install PTI’s patented JetBOx™ system on the 75-ton Consteel AC EAF at the company’s Charlotte, N.C., mill.