Steel News

Posco Implements Life-Long Learning System

01 January 2005 - Posco recently held a ceremony for the declaration of becoming a life-long learning company after deciding to introduce a 'Life-Long Learning System' to enhance corporate competitiveness and improve the quality of employees' lives with harmony in work, relaxation and learning.

Danieli to Install Spooler Line at ACA

01 January 2005 - Aceralia Corrugados Azpeitia (ACA), Spain, will add a Danieli Spooler line to their Azpeitia bar mill.

Posco Opens Era of 30 Million Tonnes per Year

01 January 2005 - With the production of 30.2 million tonnes of crude steel last year, Posco opened an age of 30 million tonnes of crude steel productivity and consolidated the foundation for a new take-off.

Ispat Iscor Commences Coke Expansion Project

01 January 2005 - Ispat Iscor Ltd. has obtained approval from South African environmental authorities to commence construction of a new coke oven battery at its Newcastle steel plant in northern Kwa-Zulu Natal. This will enable the company to expand its market coke production by some 450,000 tonnes per year.

ThyssenKrupp and CVRD to Build New Steel Mill in Brazil

01 January 2005 - Brazilian President Luiz Inácio Lula da Silva welcomes the plans of ThyssenKrupp AG and Brazilian ore producer Companhia Vale do Rio Doce (CVRD) to build a new steel mill in the state of Rio de Janeiro. The project was presented to the President in Brasilia by Prof. Dr. Ekkehard Schulz, Chairman of the Executive Board of ThyssenKrupp AG, and Prof. Dr. Ulrich Middelmann, Vice Chairman of the Executive Board of ThyssenKrupp AG and Chairman of the Executive Board of ThyssenKrupp Steel AG.

Steel Dynamics Sets Fourth Quarter Cash Dividend

31 December 2004 - Steel Dynamics, Inc. announced its previously approved fourth quarter dividend of $0.10 per common share will be payable on January 17, 2005, to shareholders of record at the close of business on December 31, 2004.

USWA Welcomes Severstal Partnership with Wheeling-Pitt

31 December 2004 -  

Cleveland-Cliffs Amends ISG Pellet Contract

31 December 2004 - Cleveland-Cliffs Inc. has entered into an amendment to its major Pellet Sale and Purchase Agreement with International Steel Group Inc., for pellet deliveries to ISG Cleveland and ISG Indiana Harbor through 2016.

Republic Achieves ISO Environmental Certification at Hamilton Plant

30 December 2004 - Republic Engineered Products, Inc. announced that its plant in Hamilton, Ont., has been certified to the ISO 14001 environmental standard. The Hamilton facility—Republic Canadian Drawn Inc.—became part of Republic in January 2004.

OSHA Honors Pro-Tec Coating for Voluntary Worker Protection

29 December 2004 - Pro-Tec Coating Co., Leipsic, Ohio, has received the highest honor for voluntary worker protection programs from the U.S. Labor Department's Occupational Safety and Health Administration (OSHA).

Wheeling-Pittsburgh and Severstal North America form Coke Joint Venture

29 December 2004 - Wheeling-Pittsburgh Steel Corp. and Severstal North America, Inc. signed a non-binding letter of intent to create a joint venture involving Wheeling-Pittsburgh Steel's Coke Plant, located in Follansbee, W.Va. The venture would ultimately provide for each party to take 50% of the coke produced by the joint venture.

AK Steel Completes Redemption of Senior Notes

27 December 2004 - AK Steel completed the redemption of the remaining $117.4 million principal amount of its 9% Senior Notes Due 2007, and the remaining $33.5 million principal amount of its 8-7/8% Senior Notes Due 2008.

Despite November Dip, Steel Imports Still Over 50% Higher than 2003

23 December 2004 - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported November imports of steel into the United States were slightly lower than in October — 3,114,000 net tons, including 2,461,000 net tons of finished steel. Although total November imports reflect a decline of 11.7%, and finished imports declined 10.9%, compared to October, year-to-date imports (YTD) remain 52.7% higher in both categories.

Wheeling-Pittsburgh Steel Restarts Basic Oxygen Furnace

23 December 2004 - Wheeling-Pittsburgh Steel Corp. restarted production from its Basic Oxygen Furnace (BOF) facility Wednesday, Dec. 22. The BOF had been down for about 12 days following a collapse of ductwork and associated equipment at the BOF facility.

Nucor Steel to Implement EAM Solution from IFS

22 December 2004 - Nucor Corp. has signed a contract with IFS to implement IFS Applications(TM) business software. Nucor will use IFS' maintenance, purchasing, and inventory applications at its Jewett, Texas, facility, which produces carbon steel shapes and bar products.

Algoma Shows Interest in Stelco Assets

22 December 2004 - Algoma Steel Inc. has entered into the process for reviewing a potential acquisition of Stelco.

Stelco Welcomes Two New Bidders to Capital Raising Process

22 December 2004 - Stelco Inc. announced that two additional prospective bidders made public their expressions of interest in Stelco's core integrated and non-core businesses.

Worthington Announces Private Placement Note Financing

21 December 2004 - Worthington Industries, Inc. has issued $100 million of ten-year unsecured Senior Notes due 2014 through a private placement arranged by Wachovia Securities and Scotia Capital. The Notes bear interest at a variable rate spread over six-month LIBOR of 80 basis points (0.80%).

Court Approves Claims Process for Stelco Creditors

21 December 2004 - The Superior Court of Justice (Ontario) approved a creditors' Claims Procedure Process for Stelco Inc.’s restructuring. Approval was granted during a hearing held Friday, Dec. 17.

ISG to Restart Burns Harbor Plate Mill

21 December 2004 - International Steel Group Inc. announced plans to restart its idled 110-inch plate mill located at the company's Burns Harbor facility. Prompted by increasing customer needs, the mill is expected to resume production early in the second quarter of 2005 and to employ an additional 80 employees at the Burns Harbor facility, ISG's largest plant.