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North America

All the latest headlines from NAFTA trading partners: the U.S., Canada and Mexico.

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Gallatin Steel Receives Award for Excellence in Employee Health

14 July 2010 - Gallatin Steel has been recognized as one of the “Healthiest Companies in America” by Interactive Health Solutions for the third year in a row.

L.B. Foster to Supply Sheet Piling for Bureau of Reclamation Project

14 July 2010 - L.B. Foster Co. has been awarded a $4.7 million contract to provide PZC sheet piling to Balfour Beatty Infrastructure of Fairfield, Calif., for use in phase II of the construction of the Red Bluff Fish Passage Improvement Project.

Lakeside Steel Provides Q1 Operations Update

14 July 2010 - Lakeside Steel announced its fiscal first-quarter operations update for the three months ended June 30, 2010 (Q1 2011), including preliminary numbers suggesting shipments of 53,719 tons—a 268% improvement over Q1 2010 and a 35% improvement over Q4 2010.

Ryerson Completes Buyout of China Joint Venture

13 July 2010 - Ryerson Holding Corp. has, via its subsidiaries, acquired Van Shung Chong Holdings' (VSC) 20% stake in Ryerson China Ltd., a joint venture between Ryerson and VSC formed in 2006. Ryerson China Ltd. is now a wholly-owned Ryerson subsidiary.

AISI Disappointed in ‘Missed Opportunity’ to Confront Unfair Trade Policies

13 July 2010 - China’s undervalued currency continues to harm U.S. manufacturers, according to the American Iron and Steel Institute and its President and CEO Thomas J. Gibson. He recently offered a comment on the Administration’s decision to not declare China a currency manipulator.

Olympic Steel Completes New Credit Facility

12 July 2010 - Olympic Steel, Inc. completed a new $125 million five-year asset based credit facility on June 30. The new ABL facility, which replaces the company’s existing $130 million credit facility that was due to expire in December 2011, has a maturity date of June 30, 2015.

USW Members Ratify Contract Extension for AK Ashland Works

12 July 2010 - Members of USW Local 1865 union ratify a three-year extension to the labor agreement covering production and maintenance employees at AK Steel's Ashland Works. The extension contains new language that increases the company’s operating flexibility as well as a wage increase for covered employees and lump sum payments over the next three years.

Harsco Announces Executive Management Appointments

09 July 2010 - Harsco announces major appointments within the company's senior executive management structure, including the appointment of Chairman and CEO Salvatore D. Fazzolari to the additional post of President.

Lakeside Steel Signs Contract with Bennett Environmental for PCB Remediation

09 July 2010 - Lakeside Steel has agreed to terms with Bennett Environmental to remove the PCB material currently stored on Lakeside's property in Welland. The project is expected to be completed by December 2010.

AK Steel Researcher Named ASM International Fellow

09 July 2010 - AK Steel’s Jerry L. Arnold, a Principal Research Engineer at the company’s Research Center, has been elected a Fellow of the Society by ASM International in recognition of his “distinguished contributions in the field of materials science and engineering”.

ThyssenKrupp Steel USA Passes Hiring Milestone

08 July 2010 - ThyssenKrupp Steel USA has hired over 1000 new Team Members, passing a major project milestone as it moves closer to the start of initial operations in July.

June Steel Import Permits Decline 15% from May

08 July 2010 - Steel import permit applications reached a total of 1,955,000 net tons for the month of June, a 15% decrease from the 2,297,000 permit tons recorded in May according to the latest report from AISI.

Cliffs to Acquire INR Energy’s West Virginia Coal Operations

07 July 2010 - Cliffs Natural Resources has entered into a definitive agreement to acquire all of the coal operations of privately owned INR Energy. INR’s operations include two underground continuous mining method metallurgical coal mines and one open-surface mine, as well as a state-of-the-art coal preparation and processing facility and a new 110-car unit-train batch-weight load out facility with access to the CSX railroad.

ITC to Conduct Sunset Review of Hot-Rolled Steel from Brazil, Japan and Russia

07 July 2010 - The ITC has voted to conduct full five-year (sunset) reviews on a countervailing duty order on hot-rolled flat carbon-quality steel products from Brazil, antidumping duty orders on hot-rolled steel from Brazil and Japan, and a suspended investigation on hot-rolled steel from Russia.

Gerdau, Gerdau Ameristeel Enter Arrangement Agreement

06 July 2010 - Gerdau Ameristeel and Gerdau SA enter into a definitive arrangement agreement to implement their proposal to take Gerdau Ameristeel private at a price of US$11.00 cash per Common Share. If approved by shareholders, the transaction is expected to be completed in August 2010.

Nucor’s Parrish to Retire; Darsey Promoted

02 July 2010 - Nucor Corp. Executive Vice President of Bar Products D. Michael Parrish plans to retire at the end of August after 35 years of service with Nucor. Effective September 1, James R. Darsey will be promoted to the position.

Timken Teams with Habitat for Humanity to Build LEED-Certified Home

02 July 2010 - A team of volunteers from The Timken Co. will construct Habitat of Greater Stark and Carroll Counties’ first-ever LEED-certified home in Canton, Ohio. The group will begin construction in July on the new home.

AK Steel Announces August 2010 Surcharges

02 July 2010 - AK Steel says it will add a $385 per ton surcharge to invoices for electrical steel products shipped in August 2010.

First Quarter Stainless Steel Imports 44% Ahead of Q1-2009

02 July 2010 - Total stainless steel imports reached 131,894 tons for YTD March 2010, a 44.1% increase compared to YTD March 2009 according to the latest report from SSINA. Total specialty steel imports (comprising stainless steel, alloy tool steel and electrical steel) were up 23.8% through the same period.

Schnitzer Steel Reports Highest Earnings since Q4 FY08

01 July 2010 - Schnitzer Steel Industries, Inc. reported diluted earnings per share from continuing operations of $1.43 for its fiscal 2010 third quarter ended May 31, 2010. This compares with a loss per share from continuing operations of ($0.01) for the same quarter of fiscal 2009.

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