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Producers
The latest news on the companies producing steel or raw materials used in the iron- and steelmaking process.
Latest News
Dofasco to Install Pulverized Coal Injection System
27 August 2007 - Dofasco will build a $60-million pulverized coal injection system at its two blast furnaces in Hamilton, supported in part by a $6.05-million, 5-year loan under the Government of Ontario’s Advanced Manufacturing Investment Strategy program.
U. S. Steel to Acquire Stelco
27 August 2007 - Amid much market speculation, U. S. Steel announces plans to acquire Stelco for $38.50 (Canadian) per share for an aggregate value of approximately $1.1 billion (U.S.) based on approximately 30 million fully diluted shares.
Waiting Period Passes for Chaparral-Gerdau Ameristeel Deal
24 August 2007 - Chaparral and Gerdau Ameristeel reach the end of their Hart-Scott-Rodino waiting period, satisfying one of the pre-conditions for consummation of their merger agreement.
Timken Upgrades Repair Services in Canada
23 August 2007 - Timken completes an agreement with Weir Canada to be the authorized provider of Timken repair services for chock bearing maintenance and chock repair for metal manufacturing customers in Canada.
AK Steel Announces Carbon Steel Price Increase
23 August 2007 - AK Steel will increase spot market prices by $30 per ton for new carbon steel product orders accepted for shipment on October 1, 2007 and later.
U.S., Canada and Mexico Take Lead on Managing Industrial Chemicals
22 August 2007 - The United States, Canada, and Mexico are developing a regional partnership to assess and manage the potential risks associated with the manufacture and use of industrial chemicals.
Worthington to Form European Steel Processing Joint Venture
21 August 2007 - Worthington Steel will form a joint venture with The Magnetto Group to operate a steel processing facility in Kosice, Slovakia.
Standard & Poor’s to Move Cliffs on the U.S. Indices
21 August 2007 - Standard & Poor's announced that Cleveland Cliffs Inc. will replace Ohio Casualty Corp. in the S&P MidCap 400, GICS Steel Sub-Industry index.
Worthington to Form Mexican Steel Processing Joint Venture
21 August 2007 - Worthington Steel signs agreement to acquire a 50% interest in privately held Serviacero Planos, which will own and operate existing service centers in Leon and Queretaro in central Mexico.
Cleveland-Cliffs Enters New Credit Agreement
20 August 2007 - Cleveland-Cliffs enters into a new unsecured, $800-million credit agreement that provides more-flexible terms and conditions, along with improved pricing.
U.S. Steel Announces OCTG Authorized Distributors
20 August 2007 - United States Steel announces its new oil country goods distribution network for the United States following its acquisition of Lone Star Technologies earlier this year.
Wheeling-Pittsburgh Nears Deal to Refinance Existing Credit Facilities
20 August 2007 - Wheeling-Pittsburgh reaches agreement in principle with its lead banks on the terms of a $350-million revolving credit facility to replace its current $225-million facility, and a new $135-million term loan to replace its existing government guaranteed term loan.
Precoat Metals Commits to Reduce Waste and Chemical Use
17 August 2007 - The U.S. Environmental Protection Agency’s mid-Atlantic region recognized Pa.-based Precoat Metals for committing to reduce waste and manufacture more environmentally-sound products.
Worthington Industries Issues Earnings Outlook
17 August 2007 - Worthington Industries says it is unlikely that its Metal Framing segment will return to profitability in the current quarter, which will likely help to push earnings per share into the range of $0.20 to $0.25 for the first quarter ending August 31, 2007.
Cleveland-Cliffs Selects Location for Iron Nugget Plant
17 August 2007 - Cleveland-Cliffs and joint-venture partner Kobe Steel will construct their 500,000 tons per year commercial-scale iron nugget production facility at Cliffs’ Empire Mine site in Palmer, Mich.
Republic and Union Reach Tentative Agreement
17 August 2007 - Republic reaches tentative labor agreement with the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers Union.
ALJ Announces 3rd Quarter Earnings
16 August 2007 - ALJ - the parent company of the former Kentucky Electric Steel - reports net income of $1.6 million on net sales of $37.5 million for the three months ended June 30, 2007.
Keystone Reports 2nd Quarter Results
15 August 2007 - Keystone Consolidated reports net income of $17.2 million on net sales of $122.7 million for the second quarter, and net income of $31.7 million on net sales of $235.8 million for the six months ended June 30, 2007.
Timken Realignment to Drive Growth, Performance
14 August 2007 - Timken will restructure the company into two divisions – a Steel Group and a new Bearings and Power Transmission Group - to support continued improvement in operational performance.
AK Steel Receives Supplier Excellence Award from Moen
13 August 2007 - AK Steel receives a supplier excellence award from Moen Inc. for exceeding Moen's expectations to consistently ship and meet delivery requirements during 2006.
