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North America

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

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AISI Recognizes Commerce Department’s Joe Spetrini

04 January 2008 - The American Iron and Steel Institute publicly commends the long and distinguished record of government service of Joseph A. Spetrini, U.S. Department of Commerce Deputy Assistant Secretary for Import Administration, who is retiring on Friday, Jan. 4.

ALJ Reports Fiscal 2007 Results

04 January 2008 - Kentucky Electric Steel’s parent, ALJ Regional Holdings posts net income of $1.061 million on net sales of $39.604 million for the fourth quarter, and net income of $6.572 million on net sales of $150.921 million for the fiscal year ended September 30, 2007.

Tube City IMS Merges Operating Subsidiaries

03 January 2008 - Tube City IMS announces the merger of its operating subsidiaries Tube City, LLC and International Mill Service, effective January 1, 2008.

Horsehead Starts Up Second Kiln in Tennessee

03 January 2008 - Horsehead starts up a second Waelz kiln for recycling EAF dust at its Rockwood, Tenn., location.

Siemens to Acquire Morgan Construction

03 January 2008 - Siemens’ Industry Solutions Division announces the acquisition of Morgan Construction, a recognized designer, manufacturer, and service provider for high-speed rod, bar, combination mills and handling equipment.

SeverStal Shuffles SeverCorr Management Team, Pushes for Ownership

03 January 2008 - SeverStal announces that SeverCorr CEO John Correnti and other founding senior managers will transition executive management of SeverCorr to SeverStal.

Baffinland, voestalpine Sign Letter of Intent for Future Iron Ore Sales

02 January 2008 - Baffinland Iron Mines signs letter of intent for the future sale of up to 1.2 million tonnes/year of iron ore to voestalpine Rohstoffbeschaffungs GmbH, the company’s third letter of intent with an end-user steel company.

Novamerican Steel Securities Begin Trading on Nasdaq Capital Market

02 January 2008 - Novamerican Steel’s common stock and warrants to purchase have begun trading on the Nasdaq Capital Market.

Ugitech USA Changes Name to Schmolz + Bickenbach USA

02 January 2008 - Schmolz + Bickenbach Group’s Ugitech USA, a provider of specialty steels, will now operate as Schmolz + Bickenbach USA.

Algoma to Make Prepayment Under Term Loan

31 December 2007 - Algoma Steel notifies UBS AG of its intention to make a prepayment under its term loan agreement.

IISI Reports World Steel Production for November 2007

31 December 2007 - Steel production for the 67 countries reporting to the International Iron and Steel Institute stood at an estimated 109.0 million tonnes in November — 4.0% higher than for the same month of 2006.

WCI Steel Amends Credit Agreement with Harbinger Capital Partners

28 December 2007 - WCI Steel will modify its existing $150-million credit facility with Harbinger Capital Partners Master Fund I, Ltd. The modification provides the company with the additional liquidity and financial flexibility needed to return to full operations after a November fire at the blast furnace hydraulic control rooms

Steel Imports Slip Again in November

28 December 2007 - The U.S. imported a total of 2,280,000 net tons of steel in November 2007—an 18% decrease as compared to the final October data—according to the latest report from the American Iron and Steel Institute.

CMC Reports Solid First Quarter

27 December 2007 - Commercial Metals reports net earnings of $69.2 million on net sales of $2.1 billion for the quarter ended November 30, 2007.

Universal & Stainless Alloy Announces New President and CEO

27 December 2007 - Universal Stainless & Alloy Products names Dennis Oates President and CEO, replacing founder Mac McAninch as Chairman and Ken Matz as President.

Northwest Pipe Announces Pipe Order

24 December 2007 - Northwest Pipe will supply approximately 6500 feet of mostly 72-inch steel pipe for a project at the Gwinnett County Department of Water Resources near Atlanta, Ga.

Worthington Reports Second Quarter Results

24 December 2007 - Worthington Industries reports net earnings were $14.7 million on net sales of $713.7 million for the second quarter of fiscal 2008, and net income of $34.9 million on net sales of $1,472.6 million for the six-months ended November 30, 2007.

Carpenter to Sell Ceramics Businesses to Morgan Crucible

24 December 2007 - Carpenter Technology will sell its ceramic operations to Morgan Crucible, a U.K.-based advanced materials company. The sale, which includes both Certech and Carpenter Advanced Ceramics, is expected to generate pre-tax proceeds of approximately $147 million.

Horsehead to Process Nucor’s EAF Dust on Regional Basis

24 December 2007 - Horsehead and Nucor agree to expand their existing commercial relationship to include regional recycling of Nucor's EAF dust by Horsehead.

Horsehead Completes 2008 Hedging Program

21 December 2007 - Horsehead Holding completes implementation of its hedging program for 2008 with the purchase of put options covering 90,000 tons of zinc at a strike price of $1.00 per pound.

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