Steel News

Cleveland-Cliffs Announces Ratification of Contracts

24 August 2004 - United Steelworker-represented employees at the Empire and Tilden Mines in Michigan, and Hibbing Taconite and United Taconite Mines in Minnesota, have ratified new four-year labor agreements. Cleveland-Cliffs manages and holds substantial equity positions in all four mines.

U. S. Steel Announces New Managing Director of Engineering and Research

24 August 2004 - United States Steel Corp. announced the appointment of George F. Babcoke to Managing Director of Engineering and Research, effective September 1.

Coalition Announces Grand Calumet and Indiana Harbor Settlement

23 August 2004 - U. S. Steel, part of a coalition of eight companies, announced last week an historic agreement regarding plans for environmental restoration of the East Branch of the Grand Calumet River and the Indiana Harbor Canal System. The agreement, which should expedite work on the area's natural resources and habitats, settles a natural resources damages claim brought by the state of Indiana and two federal agencies against companies whose operations had allegedly had an adverse effect on the area's environment. The settlement involves eight of the companies.

U. S. Steel Names General Manager of Public Affairs

20 August 2004 - United States Steel Corp. announced the appointment of Charles L. "Chuck" Rice to the position of General Manager—Public Affairs, effective Sept. 1, 2004.

NLRB Announces End to Rocky Mountain Steel Mills Labor Dispute

20 August 2004 - The Denver Regional Office of the National Labor Relations Board (Region 27) announced the resolution of the unfair labor practice litigation between that Agency, Rocky Mountain Steel Mills and the United Steelworkers of America.

SSINA to Steel Caucus: U.S. Specialty Metals Industry at Risk

20 August 2004 - The long-term survival of a once-vibrant and healthy American specialty metals industry faces serious risks, according to Dr. Jack W. Shilling, chairman of the Specialty Steel Industry of North America. This assessment and ways to fix the problem were presented by Shilling in testimony at a field hearing organized by the Senate and House Steel Caucus.

AISI Chairman Details Challenges to Domestic Industry

20 August 2004 - “We are witnessing major structural changes in the steel industry, which can be described accurately as both ‘revolutionary’ and predictable,” American Iron and Steel Institute (AISI) Chairman David S. Sutherland, President and CEO of Ipsco, Inc., testified Thursday, August 19, at a Steel Caucus field hearing in Pittsburgh.

Bayou Steel Reports 3rd Quarter Results

20 August 2004 - Bayou Steel Corp. reported net income of $6.1 million on sales of $59.3 million for its third fiscal quarter ending June 30, 2004.

Charter to Add New Meltshop to Cleveland SBQ Mill

20 August 2004 - Officials from Charter Steel announced that the company will be starting construction on a new meltshop facility on the site of its SBQ bar and rod rolling mill in Cuyahoga Heights, near Cleveland, Ohio.

Gerdau Ameristeel Appoints Raw Materials Vice President

18 August 2004 - Gerdau Ameristeel Corp. recently announced the appointment of Matthew Yeatman as Vice President—Raw Materials.

Universal Stainless President Adopts 10b5-1 Trading Plan

17 August 2004 - Universal Stainless & Alloy Products, Inc. announced that Clarence M. McAninch, President and CEO, has established a pre-arranged trading plan to sell shares of the company's common stock subject to certain minimum sales price restrictions.

Metals USA Announces Change in Division Leadership

17 August 2004 - Metals USA, Inc. announced that E. L. (Tom) Thompson has retired from the company effective August 13, 2004. "We thank Tom for the contributions he has made to our Company over the past five years. We wish Tom the very best," said C. Lourenco Goncalves, President and CEO of Metals USA.

NS Group President Adopts 10b5-1 Plan

16 August 2004 - NS Group, Inc.’s President and CEO, René J. Robichaud, has adopted a plan to sell common stock of NS Group to be acquired through the exercise of stock options. The plan applies to up to 40% (approximate) of the aggregate of the stock options and common stock owned by Mr. Robichaud and will continue through December 2005. The plan will diversify his asset portfolio and offer transparency to NS Group shareholders.

Timken Earns Training Award from Industry Publication

13 August 2004 - The Timken Co. recently earned the fifth annual Manufacturer Product Training Award from Progressive Distributor magazine in recognition of its Distributor Training School.

MEPS International Steel Market Roundup

13 August 2004 - MEPS (International) Ltd provided the following summary of international flat steel and long products markets:

Ispat Inland Survivor Supplement Expires per Pension Agreement

10 August 2004 - A supplemental pension benefit for surviving spouses of Ispat Inland employees who retired before Aug. 1, 1989, has expired as provided in a pension agreement with the United Steelworkers of America.

Wheeling-Pittsburgh Reports 2nd Quarter Income

10 August 2004 - Wheeling-Pittsburgh Corp., the holding company of Wheeling-Pittsburgh Steel Corp., reported net income of $27.1 million on net sales of $356.1 million for the quarter ended June 30, 2004.

Ivaco Enters Sales Agreements with Heico

10 August 2004 - Ivaco Inc. announced that Ivaco, Ivaco Rolling Mills LP, and Ifastgroupe and Co., LP have each entered into a binding agreement with a wholly owned subsidiary of The Heico Companies, LLC for the sale of their respective businesses to Heico. The aggregate purchase price for the three businesses is $375 million, including certain assumed liabilities.

U. S. Steel Withdraws Case against Miller Citizens

09 August 2004 - United States Steel Corp. has withdrawn its request to be compensated by the Miller Citizens Corp. (MCC) for legal fees incurred defending against a filing by the MCC to oppose the proposed tax settlement between the company, Lake County and the state of Indiana. The Indiana Tax Court recently held that MCC had no right to intervene and that the MCC motion was not timely filed.

Keystone and Steelworkers Ratify Collective Bargaining Amendments

09 August 2004 - Keystone Consolidated Industries, Inc. and the Independent Steel Workers Alliance jointly announced that the ISWA membership has overwhelmingly approved revisions to the existing collective bargaining agreement at Keystone's Bartonville Plant.