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The latest news on the companies producing steel or raw materials used in the iron- and steelmaking process.

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Latest News

Ipsco Unveils New Senior Management Team

20 July 2007 - Ipsco announces the appointment of its new senior management team following completion of the company’s acquisition by SSAB Svenskt Stal AB.

SSAB Completes Acquisition of Ipsco

19 July 2007 - SSAB Svenskt Stal AB has successfully completed its acquisition of Ipsco for U.S. $160 per share.

CMC Issues $400,000,000 of Senior Unsecured Notes

18 July 2007 - Commercial Metals has sold $400 million principal amount of Senior Unsecured Notes due 2017.

Ontario Superior Court Approves Ipsco-SSAB Plan of Arrangement

18 July 2007 - The Ontario Superior Court of Justice issues the final order approving the Plan of Arrangement for SSAB’s acquisition of all outstanding Ipsco shares.

CMC Chairman Adopts 10b5-1 Stock Trading Plan

17 July 2007 - Commercial Metals Board Chairman Stanley A. Rabin has executed a prearranged systematic personal stock trading plan pursuant to, and intended to comply with, Rule 10b5-1 under the Securities Exchange Act of 1934 and with CMC's policies with respect to insider sales.

Management Shuffle Continues at U. S. Steel

17 July 2007 - United States Steel announced that David J. Rintoul has been named General Manager of Granite City Works, succeeding Michael A. Fedorenko, who has been appointed General Manager of Engineering.

Ipsco Shareholders Approve Arrangement with SSAB

17 July 2007 - Ipsco shareholders vote to approve the Plan of Arrangement for Svenskt Stal AB’s acquisition of outstanding Ipsco shares.

Steel Dynamics Ships First Order of Welded Rail

17 July 2007 - Steel Dynamics makes its first shipments of welded rails from the recently completed rail welding operation at Columbia City, Ind.

Mesabi Trust Declares Distribution

16 July 2007 - Trustees of Mesabi Trust declare a distribution of thirty-one cents per Unit of Beneficial Interest, which compares to a distribution of forty cents ($0.40) per Unit for the same period last year.

Canadian Authorities Approve Ipsco Plan of Arrangement

16 July 2007 - The Canadian Minister of Industry under the Investment Canada Act has granted approval of the Plan of Arrangement for SSAB’s acquisition of Ipsco’s outstanding shares for U.S.$160.00 per share; the deal has also been cleared by the Canadian Competition Bureau.

Wheeling Corrugating President Resigns

13 July 2007 - Steven Sorvold, President of Wheeling Corrugating (an operating division of Wheeling Pittsburgh) has resigned from the company, effective July 31, 2007. 

U. S. Steel Appoints Senior Counsel for Tubular Unit

12 July 2007 - United States Steel announces the appointment of George J. Stewart as Senior Counsel—Tubular.

OSHA Cites Republic for Safety and Health Violations

12 July 2007 - The Occupational Safety and Health Administration proposes $163,000 in fines against Republic Engineered Products for alleged multiple willful, serious and repeat violations of federal workplace safety and health standards.

Chaparral Steel Reports Record Year-End Earnings

12 July 2007 - Chaparral Steel reports record net income of $80.2 million on net sales of $489 million for the fourth quarter, and record net income of $269.3 million on net sales of $1723 million for the 2007 fiscal year.

Future a Little Brighter for Potential Hamilton Specialty Buyer

11 July 2007 - Reaching a tentative agreement with the possible buyer for Hamilton Specialty Bar, steelworkers say the plant could reopen as early as August.

Gerdau Ameristeel to Acquire Chaparral Steel

11 July 2007 - Gerdau Ameristeel signs definitive merger agreement to acquire Chaparral Steel for US$86.00 per share in cash, valuing Chaparral Steel's equity at US$4.22 billion.

Schnitzer Steel Reports Record 3rd Quarter Earnings

10 July 2007 - Schnitzer Steel Industries reports net income of $44 million for the fiscal 2007 third quarter, a third-quarter record, and net income of $93 million for the first nine months ended May 31, 2007.

UAW Members Ratify Contract at Rockport Works

10 July 2007 - Members of the United Auto Workers Local 3044 ratify a new six-year labor agreement covering about 190 hourly production employees at AK Steel's Rockport Works.

Carpenter Announces New Chief Financial Officer

10 July 2007 - Carpenter Technology announces that K. Douglas Ralph has joined the company as Senior Vice President—Finance and Chief Financial Officer, effective immediately.

WCI CEO Retires as Earnings Expectations are Downgraded

09 July 2007 - WCI Steel announces the immediate retirement of Patrick G. Tatom from his roles as President, CEO, and a member of the Board of Directors. The company has also issued a warning statement about second-quarter earnings.

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