Steel News

ArcelorMittal and Unions Commit to Innovative Health and Safety Program

18 September 2007 - ArcelorMittal and its unions commit to a joint program of education and training to raise health and safety standards throughout the company as part of the International Metalworkers’ Federation’s first world conference, held this week in Montreal.

Timken to Expand Aerospace Capabilities with Purdy Acquisition

18 September 2007 - Timken enters agreement to acquire the assets of The Purdy Corp., a leading precision manufacturer and systems integrator for military and commercial aviation customers, for $200 million.

Update on Allegheny Technologies Chief Executive

17 September 2007 - Allegheny Technologies Chairman, President and CEO L. Patrick Hassey is expected to resume his normal duties shortly following successful cardiac artery bypass surgery on Friday, Sep. 14.

Gerdau Ameristeel Completes Chaparral Steel Acquisition

17 September 2007 - Gerdau Ameristeel completes its acquisition of Chaparral Steel, creating the second-largest structural steel producer in North America.

Nucor to Acquire Nelson Steel

14 September 2007 - Nucor enters into an agreement to acquire the assets of Nelson Steel, a significant player in the mesh markets, for a cash purchase price of approximately $54 million.

Cleveland-Cliffs Names New VP Sales and Transportation

13 September 2007 - Cleveland-Cliffs announces the promotion of Terrence R. Mee to Vice President, Sales and Transportation effective Sept. 16, 2007.

Chaparral Stockholders Approve Merger with Gerdau Ameristeel

13 September 2007 - In a special meeting held Wednesday, Chaparral Steel stockholders adopt the merger agreement for the company’s acquisition by Gerdau Ameristeel.

Nucor Announces Third Quarter Earnings Guidance

13 September 2007 - Nucor says it expects to report earnings in the range of $1.10 to $1.15 per diluted share for the third quarter ending September 29, 2007.

Steel Dynamics Adds Term Loan A Facility

12 September 2007 - Steel Dynamics amends its existing $750-million senior secured credit facility to allow for the addition of a $550-million term loan A facility. 

Carpenter Announces 10b5-1 Share Repurchase Plan

11 September 2007 - Carpenter Technology enters into a Rule 10b5-1 Plan to facilitate the repurchase of up to $115 million of its common stock.

Former Nucor CFO Honored by National Financial Organization

11 September 2007 - Financial Executives International selects former Nucor Vice Chairman, CFO, Treasurer and Secretary Sam Siegel as an inductee for the 2007 class of the FEI Hall of Fame.

Nucor Announces Resignation Of Director

10 September 2007 - Director Ray Milchovich resigns from the Nucor Board of Directors due to other demands on his time.

Universal Stainless Announces Tool Steel Base Price Increase

10 September 2007 - Universal Stainless & Alloy Products will increase base prices by 5 to 7% on all tool steel products manufactured at its Bridgeville and Dunkirk facilities.

OSHA to Recognize Nucor for Safety and Health Excellence at Norfolk

10 September 2007 - Nucor’s Norfolk, Neb., facility earns membership into OSHA’s prestigious Voluntary Protection Programs at the merit level.

Nucor Announces Additional Share Repurchase Program

07 September 2007 - Nucor’s Board of Directors unanimously approves the repurchase of up to an additional 30 million shares of the company's common stock.

Republic to Invest $12.5 Million at Canton

07 September 2007 - Republic will invest $12.5 million at its Canton meltshop to install new, state-of-the-art equipment for producing bottom-poured ingots for the open-die forging, seamless rolled ring, and electrode markets.

Nucor Promotes Ferriola, Builds up Senior Management Team

07 September 2007 - Nucor’s board of directors names John Ferriola as Chief Operating Officer of Steelmaking Operations, and announces a series of executive promotions as part of the move.

ArcelorMittal Confirms Acquisition of Wabush Mines

06 September 2007 - ArcelorMittal announces that it will exercise its Dofasco subsidiary’s option to acquire the remaining shares of iron ore and pellet producer Wabush Mines from Stelco and Cleveland Cliffs.

Mum’s the Word for Chaparral Steel Board

06 September 2007 - Chaparral Steel Board of Directors elects to express no opinion and remains neutral toward Gerdau Ameristeel’s August 30 offer to purchase any and all of Chaparral's outstanding 10% Senior Notes due 2013 and the related consent solicitation.

Justice Department Okays Sale of Sparrows Point to E2 Acquisition

06 September 2007 - The United States Department of Justice approves E2 Acquisition Corp.’s acquisition of the Sparrows Point mill from ArcelorMittal USA for a purchase price of $1.35 billion.