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North America

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

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Steel Imports Rebound 15% in September

29 October 2008 - The U.S. imported a total of 2,921,000 net tons of steel in September 2008, a 15% increase vs. August final data according to the latest report from AISI. The total included 2,428,000 net tons of finished steel, up 18% vs. August final data.

Cliffs to Idle Three Iron Ore Pellet Furnaces

29 October 2008 - Cliffs Natural Resources is initiating production curtailments on two small pellet furnaces at Northshore Mining and on a small pellet furnace at United Taconite, two of the company’s six North American iron ore mines.

U. S. Steel Reports Record 3rd Quarter Results

29 October 2008 - United States Steel reports net income of $919 million on net sales of $7.3 billion for the third quarter, and net income of $1.82 billion on net sales of $19.3 billion for the nine months ended September 30, 2008.

Timken Reports Record Third-Quarter Earnings

28 October 2008 - Timken reports income from continuing operations of $130.4 million on record third-quarter sales of $1.48 billion for the third quarter, and net income of $303.8 million on sales of $4.45 billion for the first nine months of 2008.

Gerdau Ameristeel Announces Acquisition of Metro Recycling

28 October 2008 - Gerdau Ameristeel announces its acquisition of Metro Recycling, a scrap processor headquartered in Guelph, Ont.

Severstal Resources Reports Results of Takeover Bid

27 October 2008 - Severstal Resources’ offer to purchase the outstanding common shares of PBS Coals Limited expired last Friday, October 24, 2008.

Cliffs Updates 2008 Full-Year Outlook

24 October 2008 - Cliffs Natural Resources updates its 2008 full-year outlook in conjunction with a definitive joint proxy statement/prospectus for the company’s proposed merger with Alpha Natural Resources.

GE Provides $200-Million Asset-Based Loan to Severstal Warren

24 October 2008 - GE Commercial Finance Corporate Lending provides a $200-million asset-based credit facility to Severstal Warren for ongoing working capital needs.

Universal Stainless Reports 3rd Quarter Results

24 October 2008 - Universal Stainless & Alloy Products reports net income of $2.7 million on sales of $57.6 million for the third quarter, and net income of $12.7 million on sales of $178.0 million for the first nine months of 2008.

Worthington Industries Announces Layoffs, Facility Closings

24 October 2008 - Worthington Industries will reduce its workforce by nearly 300 through a combination of layoffs and closure of the company’s Louisville steel processing facility and its Renton, Wash., metal framing facility.

Northwest Pipe Reports Record 3rd Quarter Results

23 October 2008 - Northwest Pipe reports record net income of $10.2 million on record sales of $123.4 million for the third quarter of 2008.

Allegheny Technologies Reports Third Quarter Results

23 October 2008 - Allegheny Technologies Inc. reported net income of $144.1 million on sales of $1.39 billion for the third quarter, and net income of $455.0 million on sales of $4.20 billion for the nine months ended September 30, 2008.

World Steel Association Reports Steel Production for September 2008

23 October 2008 - Figures released by the World Steel Association show that world crude steel production for the 67 countries reporting stood at an estimated 108.4 million tonnes in September 2008 — 3.2% lower than for the same month of 2007, and 3.7% lower than the previous month, August 2008.

Hatch Project Selected as PMI’s 2008 Project of the Year

22 October 2008 - The Project Management Institute awards Hatch its Project of the Year Award for its work to expand Quebec Iron and Titanium's Upgraded Slag plant in Sorel-Tracy, Que., Canada.

SSAB Selects Mobile for State-of-the-Art Heat Treat Facility

22 October 2008 - SSAB selects Mobile, Ala., as the site for a new state-of-the-art heat treating facility that will boost the plant’s annual quenched and tempered steel capacity from 100,000 to 400,000 tonnes.

Steelworkers Ratify Four-Year Contract with ArcelorMittal

22 October 2008 - Members of the United Steelworkers overwhelmingly ratify a new four-year contract with ArcelorMittal in a mail-in secret ballot vote that concluded Tuesday.

AK Steel Reports Record 3rd Quarter Net Income

22 October 2008 - AK Steel reports record quarterly net income of $188.3 million on net sales of $2,157.6 million for the third quarter, and record net income of $434.6 million on record sales of $6,185.6 million for the first nine months of 2008.

Metals USA Reports 3rd Quarter Results

21 October 2008 - Metals USA Holdings reports net income of $36.0 million on net sales of $617.7 million for the third quarter, and net income of $79.6 million on net sales of $1699.8 million for the nine months ended September 30, 2008.

Reliance Steel & Aluminum Reports Record Nine-Month Results

20 October 2008 - Reliance Steel & Aluminum reports net income of $152.5 million on record sales of $2.57 billion for the third quarter, and record net income of $416.5 million on record sales of $6.58 billion for the nine months ended September 30, 2008.

Northwest Pipe Enters Credit Agreement

17 October 2008 - Northwest Pipe enters into an Amended & Restated Credit Agreement that provides the company with a revolving line of credit of $150,000,000 maturing on May 31, 2012.

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