Steel News

Ipsco Receives Consents for Cash Tender Solicitation

03 July 2007 - Ipsco has received consents from holders of approximately 99.15% of its outstanding 8-3/4 percent Senior Notes due 2013 for its previously announced tender offer and consent solicitation.

U S Steel Names Vice President of Human Resources

02 July 2007 - United States Steel announces that Susan M. Suver has been named Vice President, Human Resources, reporting to Thomas W. Sterling, Senior Vice President—Administration.

Steel Dynamics Increases Share Repurchase Program

02 July 2007 - Steel Dynamics’ Board of Directors approves a 5-million-share increase to its existing share repurchase program.

Wheeling-Pittsburgh Revises Second-Quarter Expectations

02 July 2007 - Unplanned outages, high scrap costs, and sluggish demand for flat-rolled products are prompting Wheeling-Pittsburgh to lower its second-quarter earnings expectations.

AK Steel and UAW Reach Tentative Agreement at Rockport

02 July 2007 - AK Steel and the United Auto Workers reach a tentative agreement on a new labor contract at the company's Rockport Works in Indiana.

Worthington Reports Fourth Quarter and Fiscal Year Results

29 June 2007 - Worthington Industries reports net earnings of $38.2 million on net sales of $786.6 million for the fourth quarter, and net earnings of $113.9 million on net sales of $2,971.8 million for the twelve-month period ended May 31, 2007. Annual earnings were the third best in the company’s history, after fiscal 2005 and fiscal 2006.

Timken Steel Used in Collider Project for CERN Physics Lab

29 June 2007 - Timken provided steel with a particularly high hardness and high machinability that was used for the construction of equipment for the European Organization for Nuclear Research large particle physics laboratory located near Geneva, Switzerland.

U. S. Steel Names Plant Manager for Longview Operations

29 June 2007 - United States Steel has named Dennis G. Quirk as Plant Manager for Longview Operations, a further result of the company’s ongoing organization of its tubular business unit following completion of its Lone Star Technologies acquisition.

Steel Dust Recycling Facility Planned for Southern United States

28 June 2007 - Steel Dust Recycling, LLC announces plans to build a Waelz Kiln facility in northwestern Alabama capable of recycling 110,000 tons of EAF dust per year. 

Steelscape, California Steel Honored as Good Corporate Citizens

28 June 2007 - California Steel and Steelscape were among 435 companies recognized as “good corporate citizens” for the year 2006 by the Sanitation Districts of Los Angeles County.

CMC Steel Texas to Cut Mercury at Seguin Plant

27 June 2007 - CMC Steel Texas partners with the Environmental Protection Agency to reduce mercury at its Seguin, Texas, plant as part of the EPA’s National Partnership for Environmental Priorities program.

U. S. Steel Announces Tubular Operations Management

27 June 2007 - Following completion of its Lone Star Technologies, United States Steel is now announcing initial appointments to the operations organization for its tubular business unit.

U. S. Steel Lines up New Tubular Products Commercial Organization

26 June 2007 - With the completion of its acquisition of Lone Star Technologies and related companies, U.S. Steel announces changes to its tubular products commercial organization structure.

Nucor to Acquire Building Systems Supplier Magnatrax

26 June 2007 - Nucor enters into Merger Agreement to acquire Magnatrax, a leading provider of custom-engineered non-residential metal building systems, for a cash purchase price of approximately $280 million.

Prescription Benefits Improved for Wheeling-Pitt Retirees, Spouses

22 June 2007 - The United Steelworkers announce a benefit increase for Medicare-eligible Wheeling-Pittsburgh Steel retirees who lost health coverage when the company reorganized under Chapter 11 and subsequently enrolled in the Wheeling-Pitt Voluntary Employees’ Beneficiary Association’s Advantra programs.

Cliffs Names Director of Investor Relations and Communications

21 June 2007 - Cleveland-Cliffs announces the appointment of Steven Baisden as Director of Investor Relations and Corporate Communications, effective June 18, 2007.

CMC Reports Record Third Quarter

21 June 2007 - Boosted by record-setting results in four of its five operating segments, Commercial Metals reports net earnings of $99.4 million on net sales of $2.3 billion for the quarter ended May 31, 2007, ranking it as the strongest third quarter ever reported by the company.

ArcelorMittal CEO Says Quality, Sustainability are Key to Steel’s Future

21 June 2007 - To stimulate its long-term potential, the steel industry needs to start benchmarking itself against leading global manufacturing and service companies, according to Lakshmi Mittal, President and CEO of ArcelorMittal.

Steel Dynamics Announces Increased Revolving Credit Facility

20 June 2007 - Steel Dynamics has amended, restated and expanded its senior secured revolving credit facility from the prior $350-million level to a renewed 5-year $750-million facility.

Cleveland-Cliffs to License Kobe Steel’s Iron Nugget Technology

20 June 2007 - Under a new alliance, Kobe Steel will license its patented ITmk3 iron-making process to Cleveland-Cliffs for use in the U.S., Canada, Australia, and Brazil. The two companies are also planning to build a joint-venture iron nugget facility.