ISG
Latest News
Mittal Steel Announces US$3.2 Billion Credit Facility
01 January 2005 - Newly formed Mittal Steel Co. NV announced that it has mandated ABN AMRO, Citigroup Global Markets Limited, Deutsche Bank AG London and HSBC Bank plc (as Mandated Lead Arrangers and Bookrunners) and CSFB and UBS Limited (as Mandated Lead Arrangers) to arrange a US$3.2 billion unsecured revolving credit facility. The credit facility has been fully underwritten by the Mandated Lead Arrangers. It is expected to launch to the market at the end of January.
Cleveland-Cliffs Amends ISG Pellet Contract
31 December 2004 - Cleveland-Cliffs Inc. has entered into an amendment to its major Pellet Sale and Purchase Agreement with International Steel Group Inc., for pellet deliveries to ISG Cleveland and ISG Indiana Harbor through 2016.
ISG to Restart Burns Harbor Plate Mill
21 December 2004 - International Steel Group Inc. announced plans to restart its idled 110-inch plate mill located at the company's Burns Harbor facility. Prompted by increasing customer needs, the mill is expected to resume production early in the second quarter of 2005 and to employ an additional 80 employees at the Burns Harbor facility, ISG's largest plant.
ISG Receives Early Termination of Waiting Period for Merger
20 December 2004 - International Steel Group Inc. has received early termination of the waiting period under Hart-Scott-Rodino Act for the previously announced merger of ISG and Ispat International NV.
ISG Negotiates Property Tax Deal for Warren Coke Plant Upgrade
08 December 2004 - International Steel Group Inc. and the Warren City Schools Board of Education have announced an agreement regarding partial exemption of property taxes over the next 15 years arising from future investments at ISG’s coke production facility in Warren Township.
ISG Successfully Launches HBI Facility in Trinidad
19 November 2004 - International Steel Group Inc. announced the successful start-up of its hot briquetted iron (HBI) facility in Trinidad and Tobago. ISG purchased the facility in July 2004 from Cliffs and Associates Limited as part of its strategy to stabilize its raw material supplies and costs.
Ispat Inland Reports 3rd Quarter Results
12 November 2004 - Ispat Inland Inc. reported record net income of $119.9 million on net sales of $909.1 million for the third quarter of 2004.
MEPS International Steel Market Roundup
11 November 2004 - MEPS (International) Ltd provided the following summary of international flat steel and long products markets:
EPA Cites ISG Cleveland for Clean-Air Violations
04 November 2004 - U.S. Environmental Protection Agency Region 5 has cited ISG Cleveland Inc. (formerly an LTV Steel Co. Inc. facility) for alleged clean-air violations at the company's iron and steel production plant at 3060 Eggers Road, Cleveland, Ohio.
Cleveland-Cliffs Reports Record Net Income for 3rd Quarter
28 October 2004 - Cleveland-Cliffs Inc reported third-quarter 2004 net income of $87.5 million on total revenues and other income of $409.7 million.
ISG Reports Strong Third Quarter Results
26 October 2004 - International Steel Group Inc. reported third quarter 2004 net income of $256.4 million on net sales of $2.6 billion, and net income of $421.4 million on net sales of $6.5 billion for the nine months ended September 30, 2004.
ISG Achieves Record Shipments in Third Quarter
08 October 2004 - International Steel Group Inc. announced that it achieved record shipments of approximately 4,039,000 tons for the third quarter of 2004.
ISG Extends Exchange Offer Deadline
07 October 2004 - International Steel Group Inc. (ISG) is extending the expiration date for its offer to exchange up to $600 million of its 6.5% Senior Notes due 2014, which have been registered under the Securities Act of 1933, for any and all of its unregistered outstanding 6.5% Senior Notes due 2014 issued on April 14, 2004.
ISG Increases 3rd Quarter Earnings Outlook
14 September 2004 - International Steel Group Inc. is increasing its earnings outlook for the third quarter of fiscal 2004, principally due to higher prices.
ISG Announces Two Communications Appointments
10 September 2004 - International Steel Group Inc. announced two new appointments to the ISG Corporate Communications Department.
AISI Chairman Details Challenges to Domestic Industry
20 August 2004 - “We are witnessing major structural changes in the steel industry, which can be described accurately as both ‘revolutionary’ and predictable,” American Iron and Steel Institute (AISI) Chairman David S. Sutherland, President and CEO of Ipsco, Inc., testified Thursday, August 19, at a Steel Caucus field hearing in Pittsburgh.
MEPS International Steel Market Roundup
13 August 2004 - MEPS (International) Ltd provided the following summary of international flat steel and long products markets:
ISG to Convert Idled Cleveland Continuous Anneal Line
06 August 2004 - International Steel Group Inc. has unveiled a plan to expand operations at its Cleveland Works.
ISG Restarts Production at Georgetown
04 August 2004 - International Steel Group Inc.’s ISG Georgetown Inc. subsidiary has begun producing wire rod at its facility in Georgetown, S.C.
International Steel Group Announces 2nd Quarter Results
30 July 2004 - International Steel Group Inc. reported net income of $94.1 million on net sales of $2,083.8 million for the second quarter, and net income of $165.0 million on net sales of $3,854.1 for the first six months of 2004.
