Steel News

Stelco Distributes Restructuring Plan Information

17 October 2005 - Stelco Inc. has mailed to creditors a Notice of Proceedings and Meetings and Information Circular concerning the company's previously announced restructuring plan.

AIST Lecturer Encourages PUC Students to Consider Steel Opportunities

14 October 2005 - Association of Iron and Steel Technology (AIST) 2005 John F. Elliott Lecturer Henri Gaye recently addressed chemistry and engineering students at Purdue University Calumet.

Allegheny Technologies to Exceed 3rd Quarter Estimates for 3rd Quarter

13 October 2005 - Allegheny Technologies Inc. expects its third quarter 2005 earnings to be in the range of $0.84 to $0.88 per share, including a $4 million favorable resolution of prior years' tax matters.

Sheffield Steel to Evaluate Acquisition Proposals

13 October 2005 - Sheffield Steel Corp. announced that its Board of Directors has received two separate and unsolicited indications of interest in acquiring Sheffield Steel.

Steel Dynamics and Employees Contribute to Hurricane Relief

12 October 2005 - Steel Dynamics, Inc. and its employees are donating more than $100,000 to benefit the people displaced by Hurricane Katrina. This contribution is being made to the Red Cross Hurricane Katrina Fund.

Mittal Steel USA Adopts Katrina-Ravaged Community of Long Beach

12 October 2005 - Mittal Steel USA is focusing its Katrina rebuilding efforts on the beachfront town of Long Beach, Miss., which was devastated by the recent hurricane.

YTD Specialty Steel Imports Continue to Exceed YTD 2004 Totals

11 October 2005 - Total stainless steel imports grew to 399,708 tons through July 2005, a 13% increase* compared to the first seven months of 2004, according to the latest statistical data released by the Specialty Steel Industry of North America (SSINA). As imports continued to climb, U.S. stainless steel consumption dropped slightly to 1,361,595 tons, a 4% decreased compared to the comparable 2004 period.

Ipsco Announces Redemption of $100 Million 7.8% Debentures

10 October 2005 - Ipsco Inc. gave notice to the holders of its $100 million 7.8% Debentures, due December 1, 2006, that it will redeem all such outstanding Debentures on November 4, 2005.

Universal Stainless Reports Continuation of Titusville Work Stoppage

10 October 2005 - Universal Stainless & Alloy Products, Inc. announced that the Titusville facility hourly employees have rejected a second collective bargaining agreement offered by the company. The company says the agreement included increased wages and other benefits.

Mittal Steel USA Selects Corporate Headquarters Location

10 October 2005 - Mittal Steel has chosen Chicago's Loop for its U.S. headquarters.

Timken Acquires Bearing Inspection Group

07 October 2005 - The Timken Co. announced the acquisition of Bearing Inspection, Inc. (Bii), a leading independent provider of aerospace bearing inspection and reconditioning services. Terms of the acquisition, which Timken expects to be accretive during the first year of ownership, were not disclosed.

Gerdau Ameristeel Adds Moré Catfis Manipulator to Charlotte EAF

06 October 2005 - Gerdau Ameristeel recently started up a new Catfis automatic temperature/sampling EAF manipulator at its Charlotte facility.

Macsteel Service Centers Acquires Alpha Processing

05 October 2005 - Macsteel Service Centers USA, Inc., announced today that it is expanding its heavy gauge steel processing capabilities by acquiring the business and assets of Alpha Processing, Inc. (API), located in Chicago, Ill. Terms of the purchase were not disclosed.

Dofasco Completes Acquisition of Copperweld Tubing Businesses

05 October 2005 - Dofasco Inc. has successfully completed the acquisition of certain assets of Copperweld Holding Co. of Pittsburgh, Pa., through a transaction with Atlas Tube Inc. of Harrow, Ont.

Court Okays Stelco Agreements, Creditor Meetings

05 October 2005 -  

ABB to Power New SeverCorr Facility

05 October 2005 - ABB has received a contract to supply a high power rectifier system and two static var compensator (SVC) systems for the new SeverCorr, LLC steel mill to be built in Columbus, Miss.

GE Commercial Finance Provides Financing for SeverCorr

05 October 2005 - GE Commercial Finance has structured and arranged $440 million in senior financing to support the construction of SeverCorr LLC, a 1.5 million tons/year state-of-the-art steel mill in Lowndes County, Miss.

Schnitzer Steel Completes Separation with Hugo Neu

04 October 2005 - Schnitzer Steel Industries, Inc. and Hugo Neu Corp. have completed the transaction to separate and terminate their various joint venture relationships.

Carpenter Announces Energy Surcharge

04 October 2005 - Carpenter Technology Corp.’s Specialty Alloys Operations (SAO) unit is implementing an energy surcharge on all orders shipped after October 15. The surcharge will apply to all SAO stainless and specialty alloy products and reflects dramatic increases in natural gas prices.

Universal Stainless Reports Titusville Employee Work Stoppage

04 October 2005 - Universal Stainless & Alloy Products, Inc. announced that the Titusville facility hourly employees, represented by Local 7312-03 of the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, AFL-CIO-CLC, have rejected a new collective bargaining agreement offered by the company. The company’s offer included increased wages and other benefits.