Steel News

U. S. Steel, Worthington Complete Deal to Expand Joint Venture

02 October 2008 - United States Steel and Worthington Industries complete their plan to expand and modify their Worthington Specialty Processing joint venture.

Cleveland-Cliffs Announces Convertibility of Preferred Stock

01 October 2008 - Cleveland-Cliffs fulfills the trading price condition for the conversion right of its 3.25% redeemable cumulative convertible perpetual preferred stock, with the result that preferred stock may be surrendered for conversion at any time during the fiscal fourth quarter ending Dec. 31, 2008.

SSAB Named Industrial Company of the Year for Work Environment

01 October 2008 - SSAB is named the industrial company of the year in work environment for its systematic and long-term work-environment efforts in cooperation with the labor unions, and its dedication and to workplace safety and employee health.

Timken Upgrades Third-Quarter, Full-Year Earnings Estimates

01 October 2008 - Timken raises its estimate for third-quarter 2008 earnings per diluted share, excluding special items, to $1.00 to $1.10 based on continued strong global industrial demand, its capacity-expansion initiatives, and declining scrap prices.

Steel Producers Promote Importance of Life-Cycle Approach in Environmental Impact Studies

30 September 2008 - The International Iron and Steel Institute is appealing to governments to work together with the steel industry utilizing life cycle thinking as the most effective holistic approach to assessing a product’s impact on the environment.

Cleveland-Cliffs Signs Three Iron Ore Supply Agreements

29 September 2008 - Cleveland-Cliffs signs three new five-year supply agreements from its North American Iron Ore segment.

ThyssenKrupp Steel Makes Additional Investment in Particulates Reduction

26 September 2008 - ThyssenKrupp Steel invests an additional 30 million euros to equip its sinter plant in Duisburg-Schwelgern with additional filters to capture particulates and dust-containing off-gases.

Cleveland-Cliffs’ Babbitt Mine Earns Sentinels of Safety Award

25 September 2008 - Cleveland-Cliffs’ wholly owned Northshore Mining-Babbitt Mine is recognized for outstanding safety performance in 2007 with the industry’s Sentinels of Safety Award in the Large Open Pit category.

Worthington Reports Record 1st Quarter Results

24 September 2008 - Worthington Industries reports net earnings of $68.6 million on net sales of $913.2 million for the three months ended August 31, 2008, the highest quarterly net sales and net earnings in company history.

U. S. Steel, Worthington to Expand Specialty Processing Joint Venture

24 September 2008 - United States Steel and Worthington Industries announce plans to expand and modify their current Worthington Specialty Processing joint venture with the addition of U.S. Steel’s ProCoil steel processing subsidiary and Worthington’s Worthington Steel Taylor subsidiary.

Steel Dynamics Increases Share Repurchase Authorization Again

23 September 2008 - Steel Dynamics’ Board of Directors approves a further increase of 5 million shares to its existing share repurchase program.

Schnitzer Steel Acquires Puerto Rican Metals Recycler

19 September 2008 - Schnitzer Steel Industries signs definitive agreement to acquire Ponce Resources, a Puerto Rican ferrous and nonferrous scrap metal processor.

European Steelmakers, Rio Tinto to Collaborate on Green Ironmaking Process

19 September 2008 - Rio Tinto will collaborate with ULCOS, a consortium of the major European steelmakers, on development of a new environmentally friendly ironmaking process through the Isarna project.

Timken Invests $14 Million in Thermal Treatment Facility

19 September 2008 - Timken invests $14 million in a new thermal treatment facility for the production of heat-treated steel bars and tubes at its steel plant in Canton, Ohio.

EPA to Help Chinese Coal Mines Find Ways to Reduce Greenhouse Gas Emissions

18 September 2008 - The U.S. EPA commits more than $1 million to assess the economic and technical feasibility of recovering and using methane from coal mines in China as part of its Methane to Markets partnership.

Allegheny Technologies Announces Strategic Investment Program

18 September 2008 - Allegheny Technologies announces a new $1.16-billion, four-year strategic investment in its Flat-Rolled Products segment that has been approved by the company’s Board of Directors, but is subject to satisfactory resolution of several open issues.