Steel News

Steel Dynamics Announces New Raw Materials Position

30 June 2004 - Steel Dynamics, Inc. has appointed Richard J. Brady as Manager of Ferrous Resources and Logistics.

Specialty Steel Industry Tips Hat to U.S. Trade Team

30 June 2004 - The domestic specialty steel industry praised the efforts of U.S. government officials to reach consensus on an agreement to reduce or eliminate foreign government subsidies, despite Tuesday's suspension of the Organization for Economic Cooperation and Development (OECD) talks.

Wheeling-Pittsburgh Joins Russell 3000 Index

30 June 2004 - Wheeling-Pittsburgh Corp. joined the Russell 3000 Index when the broad-market index was reconstituted June 25.

Stelco to Relocate Corporate Offices

30 June 2004 - Stelco Inc. announced that it will relocate its corporate offices from 100 King Street West in Hamilton to the company's Hamilton plant. The move is expected to produce annual savings of $4.5 million beginning in 2005.

Allegheny Technologies Adjusts 2nd Quarter Expectations

29 June 2004 - Allegheny Technologies Inc. expects second quarter 2004 results to be favorably impacted by improving market conditions and special items.

Voestalpine Stahl Slab Caster Started up

29 June 2004 - VAI and Voestalpine recently started up a new CC 6 single-strand slab caster for Voestalpine Stahl GmbH, Linz. Start-up for the caster, which took place ahead of schedule, is one component of a large-scale enlargement project for the Linz location, referred to as “Linz-Project 2010”.

ThyssenKrupp Stahl Pulls Out of GalvaSud

29 June 2004 - ThyssenKrupp Stahl AG has sold its 49% of the GalvaSud joint venture to the Brazilian company Companhia Siderúrgica Nacional (CSN).

Carpenter Announces New Executive Assignments

28 June 2004 - Carpenter Technology Corp. announced new assignments for its two key operational executive officers.

Oregon Steel Announces 2nd Quarter Results

28 June 2004 - Oregon Steel Mills, Inc. reported record net income of $14.0 million on record sales of $281.8 million for the second quarter of 2004.

EPA Region 5 Settles Case with Steel Dynamics

25 June 2004 - U.S. Environmental Protection Agency Region 5 recently settled an administrative case involving hazardous chemical reporting violations with Steel Dynamics, Butler, Ind. An additional case was settled with Kohl's Foods, Milwaukee, Wis., and new complaints were filed against Sewall Gear Manufacturing, St. Paul, Minn., and U.S. Aluminate Co., Ashtabula, Ohio.

Roanoke Electric Steel Elects President

25 June 2004 - Roanoke Electric Steel Corp. announced that T. Joe Crawford has been elected President/Chief Operating Officer of the company.

Worthington Reports Record Fiscal Year Results

24 June 2004 - Worthington Industries, Inc. reported net earnings of $39.4 million on record sales of $782.9 million and net earnings of $86.8 million on record sales of $2,379.1 million for the three and twelve month periods ended May 31, 2004, respectively.

Stelco and Union Locals Agree on Process for Talks

24 June 2004 - Stelco Inc. has reached an agreement with its USWA Locals establishing a framework for discussions on restructuring and other matters between now and September 30, 2004.

Oregon Steel Mills to Idle Napa Pipe Mill

23 June 2004 - Oregon Steel Mills, Inc. will idle indefinitely its large-diameter pipe mill located in Napa, Calif., beginning in late June.

Commercial Metals Reports All Time Record Earnings

23 June 2004 - Commercial Metals Co. reported net earnings of $50.9 million on net sales of $1.4 billion for the quarter ended May 31, 2004, earning more this quarter than any complete year in the company's history.

California Steel Extends Expiry for Exchange Offer

22 June 2004 - California Steel Industries, Inc. has extended the expiration date for the exchange offer to exchange its 6 1/8% Senior Notes due 2014 issued on March 22, 2004 ($150,000,000 aggregate principal amount outstanding) for 6 1/8% Senior Notes due 2014. Although the original notes had not been registered under the Securities Act of 1933, the exchange notes are registered under the Securities Act of 1933.

Cleveland-Cliffs Reports Progress in USWA Labor Talks

22 June 2004 - Cleveland-Cliffs Inc. reported that negotiators for the company and the United Steelworkers of America have made progress toward a new, competitive labor agreement but additional bargaining would be required to resolve a number of complex issues.