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Imsa Acero to Invest US$120 million to Increase Production Capacity

16 December 2005 - Grupo Imsa’s Board of Directors has authorized a US$120 million investment a new continuous industrial line to galvanize and paint high-specification steel at Imsa Acero’s facilities in Monterrey, Mexico.

Schnitzer Steel Invests in Portland Recycling Facility

15 December 2005 - Schnitzer Steel Industries, Inc. has purchased a state-of-the-art Metso Texas Shredder 122x108 for its Portland, Ore., metals recycling operation.

Techint Goodfellow to Install EFSOP System at SMI Meltshop

15 December 2005 - Structural Metals, Inc. (SMI Texas) has placed an order with Techint Goodfellow Technologies Inc. (TGTI), Mississauga, Ont., for a state-of-the-art Goodfellow EFSOP™ (Expert Furnace System Optimization Process) system. Techint Goodfellow Technologies will install and commission the system on SMI’s 120-ton EAF at their meltshop in Seguin, Texas.

Steelworkers Discuss Sheffield Steel Acquisition with HIG Capital

15 December 2005 - The United Steelworkers announced that it has held productive and encouraging discussions with H.I.G. Capital regarding their interest in acquiring Sheffield Steel.

Gibraltar Amends Credit Facility, Completes Notes Offering

14 December 2005 - Gibraltar Industries, Inc. has amended its senior secured credit facility and completed a private offering of senior subordinated notes.

MEPS Releases Latest Composite Steel Price Forecasts

14 December 2005 - In November, the world All Products price fell back slightly more than anticipated. MEPS says the decrease can be attributed to significant reductions in Asian values due to oversupply. EU values fell as a result of poor demand in the long products segment and weaker long product figures. North American flat product prices were stronger as the result of higher scrap costs. MEPS says that concerns about global oversupply — mainly as a result of new capacity installations in China — have prompted the group to downgrade its forecast through 2006 by 2%. This assumes regulation of output to a level near to real demand. If this does not occur, further downgrades may be necessary in future.

Russel Metals Director Tenders Resignation

13 December 2005 - Mr. Pierre Brunet has notified Russel Metals Inc. that he will resign from the company’ Board of Directors effective December 31, 2005, due to his increased workload as Chairman of the Caisse de depot et placement du Quebec. Mr. Brunet had assumed his role as Chairman after joining the Russel Metals Board of Directors.

Timken Exec Honored as 2006 Premier 100 IT Leader

13 December 2005 - Timken Co.’s Jon Elsasser, Senior Vice President and Chief Information Officer, has been recognized by IDG's Computerworld as one of the business world's Premier 100 IT Leaders.

International Coal Group Closes Public Offering

13 December 2005 - International Coal Group, Inc. has successfully closed its public offering of 21,000,000 million common shares at a price of $11.00 per share. The company received approximately $209.9 million, net of expenses, which will be used to retire long-term debt.

Stelco Stay Extended to January 31, 2006

13 December 2005 - The Superior Court of Justice (Ontario) has granted an Order to Stelco Inc. extending the stay period under its Court-supervised restructuring until January 31, 2006.

Ipsco Appoints New Corporate Treasurer

13 December 2005 - Ipsco Inc. announced that Gregory R. Burnett has joined the company as Corporate Treasurer.

Steel Technologies Files Annual Report on Form 10-K

12 December 2005 - Steel Technologies Inc. reported that it is filing its Annual Report on Form 10-K for fiscal 2005, which reflects a non-cash adjustment from its November 1, 2005 preliminary release to increase deferred tax liabilities as of September 30, 2005.

Stelco Court Monitor Files 42nd Report

12 December 2005 - Stelco Inc.’s court-appointed Monitor has filed its forty-second report regarding the company's Court-supervised restructuring.

Stelco Creditors Approve Third Amended Restructuring Plan

12 December 2005 - Stelco Inc. announced that a third amended restructuring plan was approved by affected creditors at the previously-adjourned meeting that resumed on Friday. Affected creditors of certain Stelco subsidiaries also voted to approve the plan at other meetings resumed the same afternoon.

Allegheny Technologies Announces Dividend Increase, 2006 Capital Plan

12 December 2005 - Allegheny Technologies Inc. announced that it will increase its quarterly dividend by 67%, to $0.10 per share. The dividend is payable on December 27, 2005, to stockholders of record at the close of business on December 19, 2005.

Trade Associations Endorse Conclusions of U.S.-China Commission Report

09 December 2005 - Representatives of NAFTA steel industry trade associations endorsed key trade conclusions of the recently released “November 2005 Report to Congress of the U.S.-China Economic and Security Review Commission.”

Stelco Approves Second Amended Restructuring Plan

09 December 2005 - Stelco Inc. announced late Thursday afternoon that its Board of Directors has approved a second amended restructuring plan for consideration by its creditors. The second amended plan will be filed with the Court before the previously adjourned meetings of affected creditors resume on Friday, December 9, 2005.

Timken Names Senior Technology Vice President

08 December 2005 - The Timken Co. announced the appointment of Alastair R. Deane as Senior Vice President — Technology, reporting to President and CEO James W. Griffith. Deane will lead Timken's global technology efforts in support of generating value and achieving the company's growth targets.

Carpenter Raises Prices on Premium Melted Specialty Alloys

08 December 2005 - Carpenter Technology Corp.’s Specialty Alloys Operations unit announced that it will increase base prices an average of 10% on all premium-melted alloys in all product forms. The increase is effective immediately on all new orders.

Stelco Court Monitor Files 41st Report

08 December 2005 - Stelco Inc.’s court-appointed Monitor has filed its forty-first report regarding the company's Court-supervised restructuring.

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