Steel News

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.

ISG Completes Purchase of Georgetown Steel Assets

22 June 2004 - International Steel Group Inc. has completed the acquisition of the assets of the Georgetown Steel Co. facility in Georgetown, S.C., for a purchase price of $18 million in cash, plus assumed liabilities.

GE Commercial Finance Provides Kentucky Electric with New Credit Facility

21 June 2004 - GE Commercial Finance, through its Business Credit unit, announced that it has financed Kentucky Electric Steel, LLC with a three-year, $15 million credit facility

VAI Pomini to Supply Billet Caster for Hanggang-Changxing

18 June 2004 - VAI Pomini GmbH recently received an order from Hangzhou Hanggang Foreign Economic Relations & Trade Co. Ltd., P.R. China, for a new 6-Strand Billet Caster to be installed at Zhejiang Hanggang Changxing EAF Co. Ltd.

AK Steel Secures Financing for Middletown Emission Control Project

18 June 2004 - AK Steel has completed a $62 million industrial revenue bond offering issued through the Ohio Air Quality Development Authority (OAQDA).

Whirlpool and Ispat Inland Reach Agreement

18 June 2004 - Whirlpool Corp. and Ispat Inland Inc. have reached a confidential agreement staying the litigation involving the two companies for 45 days while securing Whirlpool's steel supply and allowing the temporary restraining order against Ispat to be dissolved.

ISG to Establish Trust Fund Covering Bethlehem Environmental Liabilities

18 June 2004 - International Steel Group Inc. has reached an agreement with the Commonwealth of Pennsylvania and its Department of Environmental Protection (DEP) to create a $19.9 million trust fund, which will be funded over the next several years to finance continual treatment of polluted mine pool discharges in Cambria, Somerset and Butler counties in Pennsylvania.