Steel News

California Steel Reports 3rd Quarter Results

17 October 2007 - California Steel Industries reports net income of $1.8 million on sales of $335.4 million for the third quarter, and net income of $11.3 million on sales revenues of $985.9 million for the nine months ended September 30, 2007.

Steel Dynamics Reports 3rd Quarter Earnings

17 October 2007 - Steel Dynamics announces earnings of $101 million on revenues of $1.2 billion for the third quarter and net income of $297 million on revenues of $2.9 billion for the first nine months of 2007.

Mesabi Trust Declares Distribution

16 October 2007 - Trustees of Mesabi Trust declare a distribution of forty-eight cents per Unit of Beneficial Interest, which compares to a distribution of fifty-eight and one-half cents per Unit for the same period last year.

Cleveland-Cliffs Expands Finance Group

16 October 2007 - Cleveland-Cliffs announces changes in its Finance Group, including the appointments of Terrance M. Paradie as Vice President, Corporate Controller, and Kathleen L. Bardwell as Vice President, Internal Audit.

EPA Objects to Draft Permit for U.S. Steel Gary Works

15 October 2007 - U.S. EPA raises formal objections to the draft wastewater discharge permit the state of Indiana has proposed for U.S. Steel Corp.'s Gary Works facility.

Gerdau Ameristeel Files Prospectus for Shares Offering

15 October 2007 - Gerdau Ameristeel files preliminary documents with relevant regulatory authorities in the U.S. and Canada for a proposed offering of 110 million of its common shares.

Steel Dynamics Announces Completion of Notes Offering

15 October 2007 - Steel Dynamics consummates an unsecured note offering, proceeds of which would be used to support the company's planned acquisition of OmniSource.

Allegheny Technologies Updates Earnings Outlook

12 October 2007 - Allegheny Technologies expects to report full-year 2007 earnings per share in the range of $7.00 to $7.25 per diluted share, reflecting lower-than-expected second-half 2007 earnings.

Gerdau Ameristeel Revises Financial Information Related to Subsidiary Guarantors

10 October 2007 - Gerdau Ameristeel announces revision of the footnote presentation of historical financial information related to its subsidiary guarantors.

Republic Introduces New Advertising Campaign

09 October 2007 - Republic Engineered Products introduces a new advertising campaign focused on the company’s heritage in high-quality steel bar and coil products.

AK Steel Reaches VEBA Settlement with Middletown Retirees

09 October 2007 - AK Steel reaches agreement with a group of Middletown Works retirees to settle a lawsuit stemming from the company's initiatives in 2006 to reduce its retiree health care costs.

Steel Dynamics Announces Offering of Notes

05 October 2007 - Steel Dynamics plans to sell approximately $500 million in aggregate principal amount of debt securities in a transaction exempt from the registration requirements of the Securities Act of 1933.

AK Steel Announces November Electrical Steel Surcharges

04 October 2007 - AK Steel will add a $240 per ton surcharge to invoices for electrical steel products shipped in November 2007.

CMC Steel Boosts EAF Operator Safety with Automated Motank Equipment

03 October 2007 - CMC Steel South Carolina reduces the need for a man-driven forklift at the EAF with the addition of Moré’s Motank machine, a dedicated remote-controlled truck equipped with a horizontal ram.

Gerdau Ameristeel and USW Reach Agreement at Sand Springs, Calvert City

03 October 2007 - Gerdau Ameristeel reaches agreements with the United Steel Workers at the company's Sand Springs, Okla., and Calvert City, Ky., steel mills.

OSHA Cites Universal Stainless & Alloy for Safety and Health Violations

02 October 2007 - OSHA is proposing $126,500 in penalties for alleged safety and health violations at Universal Stainless & Alloy Products.

Worthington Subsidiary Supports Housing Donation for Injured Veteran

02 October 2007 - Worthington Integrated Building Systems is partnering with the METALCON International trade show and Homes for Our Troops to build a home for injured U.S. Marine Corps veteran Cpl. Evan Morgan and his family.

Gerdau Ameristeel Announces Acquisition of Enco Materials

02 October 2007 - Gerdau Ameristeel acquires Enco Materials, a Nashville-based supplier of fabricated products to the commercial construction market.

Steel Dynamics to Acquire OmniSource

02 October 2007 - Steel Dynamics enters a definitive agreement to acquire OmniSource, one of North America’s largest scrap recycling companies, in a transaction valued at slightly more than $1 billion.

Dynamet Names New President

01 October 2007 - Carpenter Technology subsidiary Dynamet names Andrew McElwee as its President, effective September 10, 2007.