Steel News

U. S. Steel Names General Sales Manager for Service Centers

15 September 2005 - United States Steel Corp. announced the appointment of George H. Thompson to the position of General Manager—Service Centers, Electrical, Agricultural and Industrial Equipment. The appointment was effective September 1.

Cleveland-Cliffs to Sell Hoyt Lake Assets to PolyMet

15 September 2005 - Cleveland-Cliffs Inc. has reached an agreement in principle with PolyMet Mining Corp. regarding terms for the early exercise of PolyMet's option to acquire certain assets located at Cliffs' Erie site in Hoyt Lakes, Minn.

Dofasco Adjusts Third Quarter Earnings Expectations

15 September 2005 - Dofasco Inc. announced that it expects its consolidated earnings for the third quarter of 2005 to be significantly lower than the surveyed analyst range of $0.54 to $1.21 per common share.

Ipsco Subsidiary to Pay Workers for Seven Week Lockout

14 September 2005 - The Queen's Bench has upheld a May decision of the Saskatchewan Labor Relations Board regarding a lockout at the Wheat City Metals scrap metal processing facility. As a result of the decision, thirty-nine United Steelworkers are to be paid seven weeks of lost wages for the lockout that had been imposed by their employer.

Wheeling-Pittsburgh Steel Announces Surcharge

14 September 2005 - Wheeling-Pittsburgh Steel Corp. is implementing a raw materials surcharge of $75 per ton on shipments of all steel products.

Grupo Imsa Streamlines its Organizational Structure

13 September 2005 - Grupo Imsa announced changes in its organizational structure that are intended to help the organization increase the leverage of existing synergies between its steel-related businesses, enhance the efficiency of its operations and reduce administrative expenses.

AK Steel and USW Reach Tentative Agreement

13 September 2005 - AK Steel Corp. and the United Steelworkers of America (USW) have reached a tentative agreement on all the terms and conditions of a new labor agreement at the Ashland Works in Kentucky.

Equipment Failure Could Delay Completion of Gary Blast Furnace Rebuild

13 September 2005 - United States Steel Corp. has confirmed that an equipment failure at the company’s Gary Works could delay completion of its rebuild of Blast Furnace No. 14.

CCR Technologies to Supply Cooling Bed for Nucor Plymouth Caster

12 September 2005 - Nucor Steel Utah recently awarded CCR Technologies Inc. of Stoney Creek, Canada, a contract to supply a new caster cooling bed system.

Allegheny Technologies to Expand Nickel-based and Specialty Alloy Capabilities

09 September 2005 - Allegheny Technologies Inc. announced an expansion of its premium-melt nickel-based alloy, superalloy, and specialty alloy production capabilities. The investments are aimed at increasing ATI's capacity to produce high performance alloys for aero-engine rotating parts; airframe applications; oil and gas exploration, extraction, and refining; and power generation land-based turbines and flue gas desulfurization pollution control units. The incremental capital investments of approximately $30 million over the next 15 months will be funded from internal cash flow.

Oregon Steel to Restart Seamless Mill, Enter New Joint Venture

09 September 2005 - Oregon Steel Mills, Inc. announced that it will reopen the seamless mill at its Rocky Mountain Steel Mills plant in Pueblo, Colo.

Steel Dynamics Replaces Credit Facility

08 September 2005 - Steel Dynamics, Inc. has replaced its existing $230 million senior secured revolving credit facility with a new 5-year $350 million senior secured revolving credit facility.

Oregon Steel Mills Announces New Chairman

08 September 2005 - Oregon Steel Mills’ Board of Directors has appointed Carl W. Neun as Chairman.

Schnitzer Steel to Expand Metals Recycling Business in Eastern U.S.

08 September 2005 - Schnitzer Steel Industries’ wholly owned subsidiary, RRC Acquisition LLC, has signed a definitive agreement to buy substantially all of the assets of Regional Recycling LLC for $65.5 million in cash and the assumption of certain liabilities.

Bayou Steel Resumes Plant Operations after Hurricane Katrina

08 September 2005 - Bayou Steel Corp. today announced the resumption of plant operations following the aftermath of Hurricane Katrina.

Court Extends Stelco Stay Period to September 23

08 September 2005 - Stelco Inc. sought and obtained an extension to the stay period for its Court-supervised restructuring during a hearing held on Wednesday, Sep. 7. During the same hearing, the Court also granted Stelco’s request to appoint a Special Officer to oversee a review of complaints made by two former directors.

Ispat Inland Announces Redemption of Series R Bonds

07 September 2005 - Ispat Inland Inc. announced that it has called for redemption the $27,851,000 principal amount of its outstanding First Mortgage 7.9% Bonds, Series R, due January 15, 2007.

Ipsco Works to Maintain Shipments Despite Transportation Uncertainties

07 September 2005 - Ipsco reported that its Mobile, Ala., Steelworks sustained minimal damage from Hurricane Katrina, and was able to return to normal production levels within two days.

Keystone Emerges from Chapter 11 Bankruptcy Proceedings

06 September 2005 - Keystone Consolidated Industries, Inc. announced that it emerged from Chapter 11 bankruptcy proceedings on August 31, 2005.

Hydrogen Gas Supply Issues to Impact SDI Process Lines

06 September 2005 - Steel Dynamics, Inc. has notified its customers for cold rolled, galvanized and painted sheet products that, until it can make alternative hydrogen gas supply arrangements, it is suspending order entry for these hydrogen gas-dependent, value-added products.