Steel News

Stelco to Sell AltaSteel

02 December 2005 - Stelco Inc. has entered into a definitive agreement for the sale of AltaSteel Ltd.’s assets of to Scaw Metals Group, one of Africa's largest diversified iron, steel and engineering works.

Steel Dynamics to Expand Bar Processing at Pittsboro

01 December 2005 - Steel Dynamics, Inc. announced plans to expand operations at its Bar Products mill in Pittsboro, Ind., with additional downstream finishing operations for its special-bar-quality (SBQ) steel bar production.

Mittal to Restructure Weirton Plant Around Tinplate Operations

01 December 2005 - Mittal Steel USA announced to employees at its Weirton, W.Va., facility that it does not plan to restart the plant's ironmaking and steelmaking operations.

ThyssenKrupp Steel Employees Receive Special Bonus

01 December 2005 - The almost 20,000 employees of ThyssenKrupp Steel AG are to share in the record earnings of the largest single company in the ThyssenKrupp Group.

Siemens VAI to Replace Cosipa Slab Caster

01 December 2005 - Siemens’ Industrial Solutions and Services Group (I&S) has received an order from flat-steel producer Companhia Siderúrgica Paulista (Cosipa), Brazil, to replace their existing Slab Caster No. 3 located in Cubatão.

Restructuring Efforts Pay off for ThyssenKrupp Electrical Steel

01 December 2005 - ThyssenKrupp Steel is beginning to reap the benefits of restructuring its electrical steel operations. For the 2004/2005 fiscal year, subsidiary ThyssenKrupp Electrical Steel GmbH reported an eight-figure profit, which compares with a high eight-figure loss a year earlier.

Mittal Steel Increases Shareholding in Mittal Steel Zenica to 92%

01 December 2005 - Mittal Steel Co. NV has acquired a further 41% stake in Mittal Steel Zenica from the Kuwaiti Investment Agency for US$98 million.

Arcelor to Buy Stake in Two Costa Rican Long Carbon Steel Producers

01 December 2005 - Arcelor's Brazilian unit Arcelor Brasil has signed an agreement to buy a 50% stake of the capital of the Costa Rican companies Laminadora Costarricense SA and Trefileria Colima from Grupo Pujol Marti.

Arcelor Enters Into Strategic Partnership for Erdemir

01 December 2005 - Arcelor and the Turkish pension fund Ordu Yardimlasma Kurumu (OYAK) have agreed that Arcelor will acquire 41% of Ataer Holding AS, a wholly owned OYAK subsidiary that was founded to acquire a 49.29% equity stake of Eregli Demir ve Celik Fabrikalari AS (Erdemir).

Ipsco Wins Quality Award for Alabama Steelworks

01 December 2005 - Ipsco Inc.'s Alabama Steelworks has been named one of the winners of the 2005 Alabama Quality Awards.

October Steel Imports 18% Higher than Previous Month

30 November 2005 - The United States imported a total of 2,726,000 net tons (NT) of steel in October according to the latest report by the American Iron and Steel Institute (AISI), which is based on preliminary Census Bureau data. The total included 1,995,000 net tons of finished steel.

Gerdau Ameristeel to Resume Normal Operations at Beaumont Mill

30 November 2005 - Gerdau Ameristeel announced that it will resume normal operations at its steel wire rod mill in Beaumont, Texas, on December 12, 2005.

Surma to Replace Usher as Chairman of U. S. Steel

30 November 2005 - United States Steel Corp.’s board of directors has elected John P. Surma Jr. chairman of the board, effective February 1, 2006.

SMS Demag to Supply Meltshop, CSP, and Finishing Equipment for SeverCorr

28 November 2005 - SeverCorr LLC has placed an order with SMS Demag, Germany, for the supply of all production facilities for its integrated works, ranging from steelmaking to the hot strip mill, cold rolling mill and strip surface finishing.

Key Stelco Stakeholders Reach Agreement on Restructuring Plan

25 November 2005 - Key Stelco stakeholders have reached a consensual agreement on the economic terms of a restructuring plan.

Arcelor Extends Take-Over Bid for Dofasco

24 November 2005 - Dofasco Inc.’s Board of Directors is reviewing an unsolicited all-cash takeover bid from Arcelor SA for all outstanding Dofasco common shares.

Timken Latrobe to Increase Specialty Steel Prices

22 November 2005 - Timken Latrobe Steel announced it would increase prices by 3 to 8% on all remelted aerospace alloys. The price change will be effective immediately on all new inquiries and for all new orders received beginning Dec. 1, 2005.

Paulson Asserts Right of Shareholders to Consider Algoma Business

22 November 2005 - Paulson & Co. Inc., which holds (directly and indirectly) 19.0% of the outstanding shares of Algoma Steel, asserted the right of Algoma shareholders to requisition a special meeting, elect directors and consider company business as provided by Ontario law.

Stelco Creditor Meetings Adjourned Again

22 November 2005 - Stelco Inc. announced that the meeting of its creditors has been further adjourned until Wednesday, November 23, 2005. Meetings of creditors of Stelco’s subsidiaries will also be adjourned to the same date.

AK Steel Announces December Surcharges

18 November 2005 - AK Steel will add a $228 per ton surcharge to invoices for flat-rolled carbon steel products shipped in December 2005. The company will also add a $330 per ton surcharge to invoices for electrical steel products shipped in the same period.