Steel News

Steelworkers Reach Tentative Agreement at Three Mittal Steel Plants

30 September 2005 - The United Steelworkers (USW) union has reached a tentative agreement covering 5,000 workers at three Mittal Steel locations.

Dietrich and NOVA Chemicals to Develop Novel Construction Products

28 September 2005 - Dietrich Metal Framing is working with NOVA Chemicals Corp. to evaluate and commercialize novel construction products. Under a joint development agreement, the companies will work together on construction products that combine the structural benefits of light gauge steel framing with the thermal and moisture-retardant properties of expandable polystyrene.

Gallatin Steel Employees Support Hurricane Victims

27 September 2005 - Employees of Gallatin Steel are doing their part to help the victims of Hurricane Katrina.

Universal Stainless Implements Energy Surcharge

26 September 2005 - Universal Stainless & Alloy Products, Inc. is instituting an energy surcharge effective with shipments on October 1, 2005.

Tentative Agreements a Positive Step that Bondholders Should Welcome

26 September 2005 - Tentative agreements reached late Friday, Sept. 23, between two locals of the United Steelworkers and Stelco Inc. should be good news for everyone, including bondholders, says Steelworkers' National Director Ken Neumann.

Stelco Advances toward Restructuring

26 September 2005 - Stelco Inc. announced that it has satisfied the preliminary conditions under the restructuring agreement entered into between the company and the Province of Ontario.

Dietrich Metal Framing Announces UltraSTEEL Framing

23 September 2005 - Dietrich Metal Framing, a Worthington Industries company is introducing Dietrich UltraSTEEL(TM) metal framing products to the North American market.

Timken to Close Clinton Plant as Part of Automotive Group Restructuring

22 September 2005 - The Timken Co. announced plans to close its Clinton, S.C., plant. Production at the plant, which manufactures components and bearings for automotive powertrain and chassis applications, will be phased down over the next two years.

Worthington Reports First Quarter Results

22 September 2005 - Worthington Industries, Inc. reported net earnings of $28.4 million on sales of $694.1 million for the three months ended August 31, 2005.

Agencies Reach Agreement with U.S. Steel on Clean Air and Water Violations

22 September 2005 - U.S. Environmental Protection Agency, U.S. Department of Justice and the state of Ohio have reached an agreement with United States Steel Corp. on alleged clean-air and clean-water violations by the former USS/Kobe Steel Co. facility in Lorain, Ohio.

Stelco Court Monitor Files 37th Report

22 September 2005 - Stelco Inc.’s court-appointed Monitor has filed its thirty-seventh report regarding the company's Court-supervised restructuring. The Report provides updated information regarding Stelco’s restructuring plan and restructuring agreement with the Province; Stelco’s request for further extension of the stay period; and Stelco’s operating performance and current market conditions.

Timken to Increase Steel Bar and Seamless Tubing Prices

21 September 2005 - The Timken Corp. announced it will increase non-contract base prices for steel bar products by $25 per ton for all sizes and grades of carbon and alloy steel bars. Thermal treatment pricing extras will be increased by $30 per ton.

U. S. Steel Adjusts Third Quarter Earnings Expectations

21 September 2005 - United States Steel Corp. expects third quarter results will be below the current range of earnings estimates reported by investment analysts. The company says that in late October, it will report significant declines in income for the Flat-rolled and U. S. Steel Europe segments, compared to second quarter results.

Stelco Files Restructuring Plan

21 September 2005 - Stelco Inc. filed a restructuring plan with the Court on Tuesday, Sep. 20. It also filed a restructuring agreement with the Province of Ontario that includes an arrangement for funding the company's pension plans.

AK Steel Announces October Surcharges

16 September 2005 - AK Steel will add a $154 per ton surcharge to invoices for flat rolled carbon steel products shipped in October 2005. A $90 per ton surcharge will be added to invoices for electrical steel products shipped in the same period.

MultiServ to Expand Services at Deacero and Mittal Lazaro Cardenas

16 September 2005 - Harsco Corp.’s MultiServ mill services division will expand its on-site services at two of Mexico's largest steel works under multi-year contracts expected to generate new revenues of more than $40 million over their duration.

Steelworkers Reject Heico-Ivaco Final Offer

16 September 2005 - United Steelworkers Ontario/Atlantic Director Wayne Fraser said Thursday that the 450 members of Locals 8794 and 7940 have rejected by over 90% the offer by Heico Companies LLC. At the time of the vote, Heico had already locked out employees at the former Ivaco steelmaking facility in Hawkesbury.