Steel News

Whirlpool and Ispat Inland Reach Settlement

09 September 2004 - Whirlpool Corp. and Ispat Inland Inc. have reached a mutually satisfactory settlement of their litigation filed in Berrien County, Mich., Circuit Court.

Nucor Announces 2-for-1 Stock Split

09 September 2004 - Nucor Corp. announced that its Board of Directors approved a 2-for-1 stock split. The stock split will be carried out by issuing one additional share of common stock for each share held by stockholders of record on September 30, 2004. The additional shares will be distributed to stockholders on or about October 15, 2004. Nucor common stock's par value will remain at $.40 per share. The stock split is intended to broaden interest in Nucor's common stock and improve its marketability.

AK Steel Names Director of Purchasing

08 September 2004 - AK Steel announced it had named Anthony C. Perry to the new post of Director of Purchasing.

Cascade Steel Names Director of Operations

08 September 2004 - Robert W. Philip, President and CEO of Schnitzer Steel Industries, Inc., announced that Jeff Dyck has been promoted to Director of Operations for Cascade Steel Rolling Mills, Inc., a wholly owned subsidiary of Schnitzer.

Court Reschedules Stelco Hearing on Sale of Subsidiaries

08 September 2004 - Stelco Inc. announced that the Court hearing scheduled to take place on Tuesday, Sep. 7, has been rescheduled for September 24, 2004. The hearing is being held to review and, if appropriate, to approve the processes for the sale of Stelwire, Stelpipe and Stelfil.

Dofasco Announces Capital Structure Initiatives

07 September 2004 - Dofasco announced three initiatives related to its capital structure. First, the Board of Directors approved the redemption of all of the company's outstanding 4 3/4% Cumulative Redeemable Preferred Shares, Series A. The company also announced its intention to file a $300 million Medium Term Note program shelf prospectus, and its intention to put in place a Normal Course Issuer Bid for the repurchase of up to 3.8 million of the company's common shares, subject in both cases to approval from regulatory authorities.

U. S. Steel Vice Chairman Roy Dorrance to Retire

07 September 2004 - United States Steel Corp. announced that Roy G. Dorrance, Vice Chairman, has elected to retire at the end of September.

Allegheny Technologies Elects Two Board Members

03 September 2004 - Allegheny Technologies Inc. announced that Michael J. Joyce and Louis J. Thomas have been elected to the company's Board of Directors.

Worthington to Acquire Cylinder Assets of Western Industries

03 September 2004 - Worthington Industries, Inc. has signed a purchase agreement to acquire the propane and specialty gas cylinder assets of Western Industries, Inc.

Stelco to Demolish D Blast Furnace

03 September 2004 - Stelco Inc. will demolish its D Blast Furnace using explosives this Sunday, September 5, 2004. Built in the early 1950s, the approximately 250 foot high D Blast Furnace has been idle since 2000.

Ipsco Completes Red Deer Pipe Finishing Expansion

03 September 2004 - Ipsco Inc. has successfully commissioned its second pipe finishing facility at its Red Deer, Alberta Pipeworks.

Timken Latrobe to Modify Specialty Steel Pricing Policies

02 September 2004 - Timken Latrobe Steel announced it would change two pricing policies on all remelted aerospace alloy steel grades.

AK Steel Announces Stainless Steel Price Increase

02 September 2004 - AK Steel announced will increase the gauge and width extras for certain 200, 300 and 400 series stainless steel sheet products. The increase will be effective with shipments on and after September 13, 2004.

Stelco to Sell Stelfil Ltee

02 September 2004 - Stelco Inc.’s Board of Directors has elected to pursue the sale of Stelfil Ltée.

Pro-Tec Earns ISO/TS 16949 Quality Recognition

01 September 2004 - SRI Quality System Registrar recently awarded an ISO/TS 16949 Quality Management System certificate and an ISO 9001:2000 Quality Management System certificate to Pro-Tec Coating Co., Leipsic, Ohio.

Danieli Frohling Starts up Polishing Devices for TKN

01 September 2004 - Danieli Fröhling recently installed four SHD-PD 1000 new-generation polishing devices, including a dust exhaust system, for the skinpass mill at Thyssen Krupp Nirosta (TKN) in Düsseldorf.

VA Tech Sells Wabag Fluidized Bed Business to Andritz

01 September 2004 - The listed VA Tech announced the sale of Wabag’s Fluidized Bed Business Area to the Andritz technology group.

Ispat Iscor to Contest Solidarity Action

01 September 2004 - Ispat Iscor confirmed that it had been served with court papers by the Solidarity trade union, and that the company would file opposing papers on the matter in due course.

Management Buyout at SWB Stahlformguss

01 September 2004 - SWB Stahlformguss GmbH, Germany, has been sold to CEO Bruno Mayer and authorized officer Wolfgang Callies in a management buyout. Norddeutsche Private Equity GmbH in Hamburg, Germany, has also acquired an interest in the company as a financial investor. The sale was effective September 1, 2004.

Ispat Iscor Adjusts Flat Steel Prices

01 September 2004 - Ispat Iscor announced that it will adjust domestic prices on certain steel products by 2.5 to 8% in line with international price movements. The price adjustments will be effective from November 2004.