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North America

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

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SeverCorr Launches Meltshop and Hot Mill Operations

30 August 2007 - Production of hot rolled steel coils is underway at SeverCorr with the start-up of operations in the facility’s new meltshop, caster, and hot mill.

July Imports Reach Second-Highest Monthly Total for 2007

29 August 2007 - The U.S. imported a total of 3,222,000 net tons of steel in July 2007—including 2,452,000 net tons of finished steel—according to the latest report from the American Iron and Steel Institute. Total and finished steel imports reflect a 6% and 2% increase, respectively, compared to June’s final data.

Carpenter Appoints New Senior Vice President - General Counsel and Secretary

28 August 2007 - Carpenter Technology announces the appointment of Oliver C. Mitchell Jr. as its new Senior Vice President—General Counsel and Secretary.

Timken Names Leaders for Bearings and Power Transmission Group

28 August 2007 - Timken announces five new leaders for the businesses within its new Bearings and Power Transmission Group.

Worthington Safety Program Reduces Serious Injuries by 44%

28 August 2007 - Worthington Industries reports first-year results for its safety management program, including a 44% reduction in serious injuries, 22% reduction in total OSHA recordable injuries, and 31% reduction in the number of workers’ compensation claims.

Nucor Completes Acquisition of Magnatrax

28 August 2007 - Nucor completes its acquisition of Magnatrax for a cash purchase price of approximately $280 million.

Steel Recycling Holds Strong

27 August 2007 - Steel — the world’s most recycled material — reaches a recycling rate of 68.7%, according to the Steel Recycling Institute.

Steel Financial Bulletin Shows European Producers in Lead for 2007 Margins

27 August 2007 - The latest edition of Steel Financial Bulletin from Integer Research reveals that European steel producers have reported record profits in 2007, while margins in the U.S. steel market have fallen.

Dofasco to Install Pulverized Coal Injection System

27 August 2007 - Dofasco will build a $60-million pulverized coal injection system at its two blast furnaces in Hamilton, supported in part by a $6.05-million, 5-year loan under the Government of Ontario’s Advanced Manufacturing Investment Strategy program.

U. S. Steel to Acquire Stelco

27 August 2007 - Amid much market speculation, U. S. Steel announces plans to acquire Stelco for $38.50 (Canadian) per share for an aggregate value of approximately $1.1 billion (U.S.) based on approximately 30 million fully diluted shares.

Cargill and Robinson Steel to Form Joint Venture

24 August 2007 - Cargill will enter into joint venture with Robinson Steel to produce and distribute RPS Sheet and Plate under license; Cargill will supply the hot band plus sales and marketing support, and Robinson will manage RPS production.

Waiting Period Passes for Chaparral-Gerdau Ameristeel Deal

24 August 2007 - Chaparral and Gerdau Ameristeel reach the end of their Hart-Scott-Rodino waiting period, satisfying one of the pre-conditions for consummation of their merger agreement.

Updated Study Details Unfair Trade Advantages for China’s Stainless Industry

24 August 2007 - A report released by the Specialty Steel Industry of North America alleges that the government of China has spent the past decade breaking international trade rules with its policy of conferring preferred status on the stainless steel industry, and providing it with a wide range of preferential treatment programs and direct subsidies.

Stockholders Re-Elect All 11 Incumbent Ryerson Directors

24 August 2007 - Stockholders at Ryerson’s 2007 Annual Meeting of Stockholders re-elect all 11 Ryerson director nominees to the company’s Board of Directors.

Timken Upgrades Repair Services in Canada

23 August 2007 - Timken completes an agreement with Weir Canada to be the authorized provider of Timken repair services for chock bearing maintenance and chock repair for metal manufacturing customers in Canada.

AK Steel Announces Carbon Steel Price Increase

23 August 2007 - AK Steel will increase spot market prices by $30 per ton for new carbon steel product orders accepted for shipment on October 1, 2007 and later.

Commerce Department Announces Launch of Nafta Steel Monitor

23 August 2007 - The Department of Commerce announces the launch of the North American Steel Trade Committee’s NAFTA Steel Monitor, a website that provides online public access to consolidated steel trade data from the United States, Canada, and Mexico.

Chrysler, Daimler and AISI Team up to Optimize Future Vehicle Structures

23 August 2007 - AISI, Chrysler and Daimler work together on the application of advanced steel and manufacturing technologies to future vehicles, leading to the development of steel-intensive solutions and a design with enhanced fuel economy and improved structure.

Reliance Purchases Shares of its Common Stock

22 August 2007 - Reliance Steel & Aluminum has been actively repurchasing shares of its own common stock in the open market under the company's Stock Repurchase Plan.

Homeowners Prefer Steel in Face of Potential Hurricane

22 August 2007 - Asked what construction material they would prefer for framing their house if living in an area prone to hurricanes, 69% percent of homeowners said they preferred steel as their material of choice.

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