Steel News

Canadian Trade Tribunal to Commence Interim Review of Hot Rolled Carbon Steel Plate

20 July 2004 - The Canadian International Trade Tribunal has initiated an interim review of its finding on dumped hot-rolled carbon steel plate from Brazil, Finland, India, Indonesia, Thailand and Ukraine, and subsidized hot-rolled carbon steel plate originating in or exported from India, Indonesia and Thailand.

Letter of Intent Signed for Acquisition of Kentucky Electric Assets

20 July 2004 - YouthStream Media Networks, Inc. has entered into a preliminary letter of intent with KES Holdings, LLC to acquire KES Acquisition Co., LLC, a 100%-owned subsidiary of KES Holdings. YouthStream currently owns a 1.00% membership interest in KES Holdings.

Cleveland-Cliffs and USWA Renew Negotiations

20 July 2004 - Cleveland-Cliffs Inc. is returning to the bargaining table with the United Steelworkers of America (USWA). The parties will work toward the goal of achieving a labor agreement by July 31 that will ensure the long-term competitiveness of the company while giving employees significant wage increases.

WCI Steel Completes Blast Furnace Reline

20 July 2004 - WCI Steel, Inc. announced that iron production at its blast furnace has resumed after the successful completion of a $15.3 million reline.

VA Tech Honored for Sustainable Development

19 July 2004 - In a study conducted by the Vienna University of Economics of the 55 companies listed in the Vienna Stock Exchange’s ATX Prime Market, VA Tech was ranked as the most sustainable company in the industrial sector. Company performance was analyzed based on environmental products and processes as well as social responsibility.

Corus to Expand Sinter Output with VAI Grate Width Extension Technology

19 July 2004 - VAI Industries Ltd. will implement VAI’s patented Grate-Width Extension Technology in partnership with Corus Strip Products. The contract, valued at approximately 10 million Euro, will raise Corus’ average weekly sinter production from 78,000 to 95,000 tonnes, an increase of more than 20%.

Ispat Inland and Union Recess Talks

19 July 2004 - Ispat Inland Inc. and the United Steelworkers of America suspended talks on Thursday, July 15, after five weeks' intensive discussions toward a new collective bargaining agreement.

Parsytec to Provide Surface Inspection for I/N Tek Pickling-Tandem Line

16 July 2004 - Parsytec AG has received an order from I/N Tek for implementation of a surface inspection solution at the company’s continuous pickling-tandem line.

USWA Ratifies Labor Contract with WCI Steel

16 July 2004 - United Steelworkers of America Local 1375 members have ratified a new labor agreement with WCI Steel, Inc.

Timken Business Recommended for ISO-TS 16949:2002 Certification

15 July 2004 - The Timken Co.'s automotive group has been recommended for certification to ISO/TS 16949:2002. The company's 3rd party registrars made the recommendation after concluding its audits in June of 2004.

Steel Dynamics Announces Initiation of Cash Dividend

15 July 2004 - Steel Dynamics, Inc.’s Board of Directors has declared the company's first quarterly cash dividend.

Oregon Steel to Build New Pipe Mill

15 July 2004 - Oregon Steel Mills, Inc.’s Board of Directors has approved the construction of a spiral weld double submerged arc weld (DSAW) pipe making facility at or near its Portland, Ore., mill.

Timken Acquires Technical Services Group

14 July 2004 - The Timken Co. has acquired the assets of SES Technical Group, a division of SES, LLC. Terms of the deal were not disclosed.

TXI Reports Record Steel Profits for 4th Quarter

14 July 2004 - Texas Industries, Inc. reported net income of $37.6 million on net sales of $519.9 million for the quarter ended May 31, 2004.

California Steel Reports 2nd Quarter Results

14 July 2004 - California Steel Industries, Inc. reported net income of $26.3 million on sales of $288.5 million for the quarter ended June 30, 2004.

Dofasco Adjusts 2nd Quarter Earnings Outlook

14 July 2004 - Dofasco Inc. announced that it expects its consolidated earnings for the second quarter of 2004 to be approximately $1.45 per common share, above the range of $0.83 to $1.20 expected by steel industry analysts.

Allegheny Technologies Announces Public Common Stock Offering

13 July 2004 - Allegheny Technologies Inc. is making a public offering of 10 million shares of its common stock under its effective shelf registration statement. Over a 30-day period, the underwriters have the option to purchase up to 1.5 million additional shares to cover over-allotments.