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North America

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

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Cleveland Cliffs Reports 2nd Quarter Results

30 July 2007 - Cleveland-Cliffs reports net income of $86.9 million on record revenues from iron ore product sales and services of $547.6 million for the second quarter, and net income of $119.4 million on record revenues of $873.1 million for the six months ended June 30, 2007.

Carpenter Technology Shakes up Management Ranks

30 July 2007 - Carpenter Technology announces new assignments for two key operational executive officers—and the departure of Dennis Oates, former Senior Vice President—Specialty Alloys Division.

Algoma Steel Makes Final Offer to Local 2251

30 July 2007 - Algoma Steel confirms that the company has tabled its final offer to United Steelworkers Local 2251.

Carpenter Technology Reports Year-End Results

27 July 2007 - Carpenter Technology Corp. reported net income of $61.3 million on sales of $560.5 million for the fourth quarter, and net income of $227.2 million on sales of $1944.8 million for fiscal 2007.  

U. S. Steel Announces Additional Appointments to Tubular Business Unit

27 July 2007 - United States Steel announces three additional operations appointments for its tubular business unit.

Algoma Steel Reaches Tentative Agreement with Salaried Employees

27 July 2007 - Algoma Steel reaches tentative agreement with United Steelworker Local 2724, the bargaining unit for its salaried employees; no agreement has yet been reached with the larger Local 2251, which covers 2714 union members.

Quanex Looks to Higher End of Earnings Guidance

26 July 2007 - Quanex expects to report fiscal third quarter 2007 diluted earnings per share from continuing operations in a range of $0.94 to $0.98, including an estimated $0.03 per share non-cash LIFO charge.

CMC Subsidiary to Install Flexible Medium Section Rolling Mill

26 July 2007 - Commercial Metals’s CMCZ steel minimill in Zawiercie, Poland, will install a new flexible medium section rolling mill at an estimated cost of $170 million.

Allegheny Technologies Reports 2nd Quarter Earnings

26 July 2007 - Allegheny Technologies Inc. reported net income of $206.5 million on sales of $1.47 billion for the second quarter, and net income of $404.3 million on sales of $2.84 billion for the six months ended June 30, 2007.

SMS Demag to Help Boost Production at Nucor Hickman

26 July 2007 - Nucor awards SMS Demag a contract to modernize the finishing mill at its CSP plant in Hickman, Ark., including replacement of the drive trains on mill stands F1 and F2 and modification of these stands to accommodate larger work rolls.

Stelco Reports 2nd Quarter Results

26 July 2007 - Stelco reports EBITDA of $53 million and a $19-million net loss before income tax,  showing solid improvements over the previous quarter.

May Steel Shipments Dip Below May 2006 Levels

25 July 2007 - U.S. steel mills shipped 9,087,000 net tons in May 2007, according to the latest report from the American Iron and Steel Institute.

AK Steel to Redeem Remaining Senior Notes

25 July 2007 - AK Steel announced it will redeem the remaining $150 million of its outstanding 7 7/8% Senior Notes Due February 15, 2009.

Imports Running Steady—and High—Through First Half of 2007

25 July 2007 - The U.S. imported a total of 2,882,000 net tons of steel in June 2007, including 2,296,000 net tons of finished steel, according to the latest report from the American Iron and Steel Institute.

Ryerson to be Acquired by Platinum Equity

25 July 2007 - Ryerson enters into a definitive merger agreement to be acquired by Platinum Equity in a transaction valued at approximately $2.0 billion.

AK Steel Reports Second Quarter Net Income

25 July 2007 - AK Steel reported net income of $109.9 million on record net sales of $1,869.5 million for the second quarter, and net income of $172.6 million on net sales of $3.6 billion for the first six months of 2007.

U.S. Steel Reports 2nd Quarter Income

25 July 2007 - United States Steel reports net income of $302 million on net sales of $4.2 billion for the second quarter, and net income of $575 million on net sales of $8.0 billion for the first six months of 2007.

AK Steel to Make 3rd Early Pension Fund Contribution in 2007

24 July 2007 - AK Steel’s board of directors authorizes the company to make another early contribution to its pension trust fund, which will be the third such payment in 2007.

Commercial Metals to Acquire Croatian Mill

24 July 2007 - Commercial Metals signs definitive purchase agreement with the Croatian government to acquire Valjaonica Cijevi Sisak for HRK 37 million for the shares, in addition to  (about U.S. $7 million), assume debt of over HRK 200 million (about U.S. $41 million), invest about U.S. $40 million in capital expenditures, and increase working capital by approximately U.S. $39 million f

Steel Dynamics Reports Second Quarter Results

24 July 2007 - Steel Dynamics reports earnings of $94 million on net sales of $911 million for the second quarter, and net income of $196 million on net sales of $1.8 billion for the first half of 2007.

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