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Tenova Reaches 100% Ownership In Tenova Multiform
03 August 2011 - Tenova has reached 100% equity ownership in Tenova Multiform, the joint venture company within the Strip Processing Lines and Cold Rolling Mills business in India, established in 2009.
Tenova Implements New Corporate Structure
03 August 2011 - Due to strong growth during the past decade, Tenova has decided to implement a new structure, splitting the Group into two divisions: Tenova Iron & Steel and Tenova Mining & Metals.
Posco Starts Construction on Integrated Steel Mill in Indonesia
03 August 2011 - Posco has started construction of the main facilities on a new integrated steel mill planned for Cilegon, Indonesia. The project is being executed by a 70:30 joint venture between Posco and Indonesia’s state-run steelmaker, Krakatau Steel.
Organizations Developing Methodology for Manufacturing Low-Mass Steel Fuel Tanks
02 August 2011 - The Strategic Alliance for Steel Fuel Tanks, in collaboration with the Auto/Steel Partnership and the United States Automotive Materials Partnership, plans to develop a methodology for producing lightweight sealed steel fuel tanks with 30 to 40% mass reductions compared with current-generation sealed steel tanks.
AK Steel Announces September 2011 Surcharges
02 August 2011 - AK Steel will add a $460 per ton surcharge to invoices for electrical steel products shipped in September 2011.
U. S. Steel Announces Executive Appointments
02 August 2011 - United States Steel announced two executive appointments in its corporate risk management and finance organizations; both appointments are effective immediately.
Commercial Metals Adopts Stockholder Rights Plan
02 August 2011 - The Board of Directors of Commercial Metals Co. has adopted a Stockholder Rights Plan with a 10% threshold; stockholders with existing positions over 10% will be grandfathered.
ATI Operations, USW Reach Tentative Agreement
02 August 2011 - United Steelworkers, ATI Allegheny Ludlum and ATI’s Albany, Ore., titanium operations have reached tentative four-year agreements covering approximately 3,000 employees.
Universal Stainless Reports Strong Second Quarter 2011 Results
01 August 2011 - Universal Stainless & Alloy Products reported net income of $5.5 million on sales of $63.3 million for the second quarter, and net income of $9.97 million on sales of $123.1 million for the first six months of 2011.
NLMK Expects to Bring Damaged EAF Online by December
01 August 2011 - NLMK reports that the electric arc furnace that was halted as a result of the transformer incident in early July is expected to be brought back online in December 2011.
Posco Employees Help Drought-Stricken Village in Qingdao
01 August 2011 - Employees at Posco-CQPC recently visited a low-income settlement in the Cheng Yang, Sanshuiwee region in Qingdao to help residents repair their homes and village roads.
Reliance Steel & Aluminum Reports 2nd Quarter Results
01 August 2011 - Reliance Steel & Aluminum reported net income of $98.7 million on sales of $2.05 billion for the second quarter and net income of $191.0 million on sales of $3.96 billion for the six months ended June 30, 2011.
SAIL Q1 Sales Increase, Profit Decreases
01 August 2011 - The unaudited financial results of SAIL for April-June (Q1) of the current financial year showed 19.7% growth in sales turnover compared to the corresponding period last year. Due to a sharp increase in input costs, however, profit after tax was lower by 29%.
Severstal Columbus Signs $350 Million Revolving Credit Facility
29 July 2011 - Severstal Columbus has signed a $350 million syndicated revolving credit facility, proceeds of which will be used, among other things, to refinance an existing $150-million revolving credit facility.
Nippon Steel Invests to Increase Capacity at NBC China
29 July 2011 - Nippon Steel Corp., together with joint capital subscribers, has decided to increase production capacity and expand the local fabrication setup at Nippon Steel Bar & CH Wire (China) Co., Ltd. (NBC China). Construction of a new integrated plant will increase capacity from 7000 to 42,000 tonnes/year.
Timken Posts Second Quarter Earnings
29 July 2011 - The Timken Co. reported $121.5 million income from continuing operations on sales of $1.3 billion for the second quarter of 2011.
SMS Meer to Upgrade ArcelorMittal Hamburg Wire Rod Mill
29 July 2011 - ArcelorMittal Hamburg GmbH has placed an order with SMS Meer for the modernization of a two-strand wire rod mill, with an annual capacity of 900,000 tonnes. New cantilever stands will enable higher rolling forces in the future.
Preliminary Finished Steel Imports Increase 5% in June
29 July 2011 - The U.S. imported 2,110,000 net tons of finished steel in June, up 5% from May final data according to the latest report from AISI.
Carpenter Technology Reports Fourth Quarter Results
29 July 2011 - Carpenter Technology reported net income attributable to Carpenter of $25.5 million on net sales of $483.6 million for the fourth quarter, and net income attributable to Carpenter of $71.0 million on net sales of $1.675 billion for the full year fiscal 2011.
Reliance Steel & Aluminum Announces New Credit Facility
28 July 2011 - Reliance Steel & Aluminum has amended and restated its existing $1.1 billion unsecured revolving credit facility for five years and increased the size to $1.5 billion.
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