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North America

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

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OAO Severstal to Purchase WCI Steel

19 May 2008 - OAO Severstal reaches a binding agreement to acquire the outstanding equity of Warren, Ohio, based WCI Steel for a total cash consideration of US$140 million, or about $3.29 per share.

Algoma Steel Improves Performance in First Quarter

16 May 2008 - Algoma Steel announces significant performance improvements for the first quarter of 2008, including a 6.2% increase in shipments and a 4.6% increase in sales vs. last year’s first quarter.

Nucor Getting Closer to Site Selection for $2-Billion Ironmaking Facility

16 May 2008 - Nucor applies for a permit to build a state-of-the-art iron-making facility in Louisiana that would produce 3 million tons/year of iron as well as power beyond its own needs through the capture and use of excess energy at the blast furnace and heat-recovery coke plant.

ISRI Warns of Increasing Theft of Infrastructure Metals

15 May 2008 - The Institute of Scrap Recycling Industries issues a warning about the increase in theft of ferrous infrastructure metals, which join a growing list of metal materials that have been targets of thieves for several months.

Commerce to Issue Antidumping Order on Rectangular Pipe and Tube from Turkey

15 May 2008 - The U.S. Department of Commerce will issue an antidumping duty order on imports of light-walled rectangular pipe and tube from Turkey.

Nucor to form Joint Venture with Sidenor

15 May 2008 - Nucor signs MoU with Sidenor regarding a new joint venture for the production and distribution of long steel products and plate in the Balkans, Turkey, Cyprus, and North Africa.

AK Steel Announces Company Scholarship Recipients

14 May 2008 - Continuing a longstanding company tradition, AK Steel announces the award of college scholarships to sons and daughters of company employees.

United Steelworkers File Charges against Latrobe Specialty Steel

14 May 2008 - Union workers at Latrobe Specialty Steel file an unfair labor practice charge with the National Labor Relations Board stating that the lockout that began on May 9, 2008, is unlawful.

Kentucky Electric Steel Parent ALJ Announces 2nd Quarter Earnings

14 May 2008 - Kentucky Electric Steel parent ALJ reports net income of $6.8 million on net sales of $82.3 million for the six months ended March 31, 2008.

Nucor Moves Forward on Italian Beams Venture with Duferco

14 May 2008 - Nucor enters agreement to acquire 50% of its Duferdofin-Nucor Srl beam production and distribution joint venture with Duferco, for euro 423.5 million.

Russel Metals Reports 1st Quarter Earnings

13 May 2008 - Russel Metals reports net earnings of $29.2 million on consolidated revenues of $712 million for the first quarter of 2008.

Gerdau Ameristeel Announces Record 1st Quarter Earnings

13 May 2008 - Gerdau Ameristeel reports net income of $163.0 million on net sales of $2.0 billion for the three months ended March 31, 2008.

Esmark Settles Lawsuit with Herman Strauss

12 May 2008 - Esmark confirms settlement of litigation pending between its Esmark Steel Service Group and Herman Strauss, Inc. over scrap purchased by Wheeling-Pittsburgh Steel.

Vallourec Confirms Acquisition of Tubular Businesses from Grant Prideco

12 May 2008 - Vallourec announces the granting of all necessary regulatory approvals for its acquisition of the Atlas Bradford Premium Threading, TCA, and Tube-Alloy businesses from Grant Prideco.

Workers, Management Locked in Stalemate at Latrobe Specialty Steel

12 May 2008 - Workers from Latrobe Specialty Steel are locked out after management rejects the offer submitted last Thursday, My 8 be members of United Steelworkers Local 1537.

Esmark Responds to ‘Frivolous’ ArcelorMittal Lawsuit

12 May 2008 - Esmark indicates surprise and disappointment in response to ArcelorMittal’s suit against Esmark and E2 Acquisition for breach of their contract to purchase the Sparrows Point steelmaking facility.

Tube City IMS Ecorse Facility Recertified to ISO 9001:2000

09 May 2008 - The Tube City IMS facility in Ecorse, Mich., retains its ISO 9001:2000 quality system certification after passing its quality system surveillance audit.

California Steel to Shuffle Top Management

09 May 2008 - California Steel Industries announces several changes to its top management staff, including the appointment of Vicente Wright to serve as President and CEO, and Masakazu Kurushima to serve as Chairman of the Board.

Steel Dynamics Subsidiary to Acquire Recycle South

09 May 2008 - Steel Dynamics’ wholly owned subsidiary OmniSource executes a definitive agreement to acquire the remaining equity interests in Recycle South.

ArcelorMittal Files Suit against Esmark/E2

09 May 2008 - ArcelorMittal has filed suit against Esmark Inc., E2 Acquisition, seeking in excess of $540 million for breach of its contract to purchase Sparrows Point.

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