Steel News

Danieli Frohling Starts up Polishing Devices for TKN

01 September 2004 - Danieli Fröhling recently installed four SHD-PD 1000 new-generation polishing devices, including a dust exhaust system, for the skinpass mill at Thyssen Krupp Nirosta (TKN) in Düsseldorf.

VA Tech Sells Wabag Fluidized Bed Business to Andritz

01 September 2004 - The listed VA Tech announced the sale of Wabag’s Fluidized Bed Business Area to the Andritz technology group.

Ispat Iscor to Contest Solidarity Action

01 September 2004 - Ispat Iscor confirmed that it had been served with court papers by the Solidarity trade union, and that the company would file opposing papers on the matter in due course.

Management Buyout at SWB Stahlformguss

01 September 2004 - SWB Stahlformguss GmbH, Germany, has been sold to CEO Bruno Mayer and authorized officer Wolfgang Callies in a management buyout. Norddeutsche Private Equity GmbH in Hamburg, Germany, has also acquired an interest in the company as a financial investor. The sale was effective September 1, 2004.

Ispat Iscor Adjusts Flat Steel Prices

01 September 2004 - Ispat Iscor announced that it will adjust domestic prices on certain steel products by 2.5 to 8% in line with international price movements. The price adjustments will be effective from November 2004.

Severstal Selects Broner for Production Planning Project

01 September 2004 - Broner Metals Solutions has been awarded a contract by Severstal to carry out a business process re-engineering (BPR) project for production planning at its plant in Cherepovets, Russia.

Management Changes at Ispat Iscor

01 September 2004 - Ispat Iscor has made excellent progress in recent years to establish itself as a premier global steel producer. With the support of its major shareholder, LNM Holdings NV, Ispat Iscor has delivered substantial sustainable audited cost savings exceeding ZAR 1,412 billion through the Business Assistance Agreement. This has contributed to a significant turnaround in the fortunes of the company, reflected in the recent interim results where an operating profit of ZAR 2.9 billion was reported.

VAI to Supply Vacuum Degasser to Companhia Siderurgica

01 September 2004 - VAI-MS has been contracted to provide a vacuum degassing plant to Brazilian steel producer Companhia Siderúrgica, an Arcelor Group company. The order is valued at approximately EUR 29 million.

Belgo Mineira Starts up New Danieli Steelmaking Plant and Bar Mill

01 September 2004 - Belgo Mineira in Piracicaba, Brazil, is operating a new state-of-the-art Danieli steelmaking plant.

Schnitzer Steel Third Quarter Segment Analysis

01 September 2004 - Metals Recycling Business—The Metals Recycling Business's third quarter 2004 operating income amounted to $32.5 million, representing an improvement of 221% over the third quarter of last year. The increase was primarily driven by higher selling prices and sales volumes. Ferrous metal sales prices averaged a record $237 per ton during the recent quarter, which compares to $133 per ton reported in last year's third quarter and $158 per ton recognized in the second quarter of fiscal 2004. Many of the sales reported in the third quarter of fiscal 2004 were the result of orders taken late in the second quarter when market selling prices for ferrous metals rose to record levels. Third quarter 2004 sales volumes amounted to 445,000 tons, which were 3% higher than the volume shipped in the third quarter of fiscal 2003.

AISI Receives First Royalties from Hot Strip Mill Model Sales

31 August 2004 - The American Iron and Steel Institute (AISI) recently received its first royalties from sales of the Hot Strip Mill Model (HSMM). The model is one of several commercially licensed technologies developed under AISI’s Advanced Process Control program, a collaborative effort among steelmakers and the U.S. Department of Energy (DOE) to put breakthrough technologies on the plant floor.

Ipsco Develops 123-Inch Wide Coil Capability

31 August 2004 - Ipsco Inc. has successfully produced 123-inch wide hot rolled coils at its Mobile, Ala., steelworks, successfully expanding its product line and operating flexibility.

Stelco and Local 8782 Begin Negotiations for Lake Erie Agreement

31 August 2004 - Stelco Inc. announced that the company and Local 8782 have begun negotiations to renew the collective agreement at Stelco's Lake Erie facility.

Schnitzer Sales and Marketing VP Announces Retirement

30 August 2004 - Robert W. Philip announced that Terry Glucoft, Vice President of Domestic Sales and Marketing for Metals Recycling for Schnitzer Steel Industries, Inc., would be retiring from the company at the end of August.

Court Approves Ivaco Sale

27 August 2004 - The Ontario Superior Court of Justice has approved the sale of substantially all of Ivaco Inc.’s assets to an affiliate of Heico LLC in accordance with the Purchase and Sale Agreements previously announced. The transaction is expected to close before year end.

AK Steel Announces September Surcharges

27 August 2004 - AK Steel has advised its flat-rolled carbon steel customers that a $142 per ton surcharge will be added to invoices for products shipped in September. AK Steel also advised its electrical steel customers that a $240 per ton surcharge will be added to invoices for electrical steel products shipped in September.

Roanoke Electric Steel Reports Record 3rd Quarter Results

27 August 2004 - Roanoke Electric Steel Corp. reported net earnings of $7,757,545 on record sales of $129,443,989 for the third quarter ended July 31, 2004.

IMS to Supply X-Ray Gauges for Dofasco Cold Tandem Mill

27 August 2004 - Dofasco Inc., Canada, has placed an order with IMS Systems Inc. for a complete cold tandem mill thickness gauging system.

Ipsco Uses Savings from Process Innovation to Fund Local Education

26 August 2004 - Ipsco Inc. announced that more than $100,000 will be infused into the education system in north Mobile County in the next year. The money is a direct result of savings generated by the Company by substituting scrap tires for carbon in the steel manufacturing process.

Thermo Electron to Supply Gauges for Wheeling Pgh Tandem Mill Upgrade

26 August 2004 - Thermo Electron Corp. will supply Wheeling Pittsburgh Steel Corp. with two Radiometrie RM 215 X-ray thickness gauge upgrades for the 66-Inch Tandem Mill at their Allenport, Pa., facility.