Steel News

Carpenter Technology Announces 2-for-1 Stock Split

17 October 2007 - Carpenter Technology’s Board of Directors approves a two-for-one split of the company's common stock in the form of a stock dividend.

California Steel Reports 3rd Quarter Results

17 October 2007 - California Steel Industries reports net income of $1.8 million on sales of $335.4 million for the third quarter, and net income of $11.3 million on sales revenues of $985.9 million for the nine months ended September 30, 2007.

SMS Demag to Supply Hot Mill, Cold Rolling Complex for new TKS Mega-Mill

17 October 2007 - ThyssenKrupp Steel awards SMS Demag an order for a hot strip mill and cold rolling complex for the new high-capacity steel and stainless steel producing and processing facility planned for Calvert, Ala.

Steel Dynamics Reports 3rd Quarter Earnings

17 October 2007 - Steel Dynamics announces earnings of $101 million on revenues of $1.2 billion for the third quarter and net income of $297 million on revenues of $2.9 billion for the first nine months of 2007.

Mesabi Trust Declares Distribution

16 October 2007 - Trustees of Mesabi Trust declare a distribution of forty-eight cents per Unit of Beneficial Interest, which compares to a distribution of fifty-eight and one-half cents per Unit for the same period last year.

Cleveland-Cliffs Expands Finance Group

16 October 2007 - Cleveland-Cliffs announces changes in its Finance Group, including the appointments of Terrance M. Paradie as Vice President, Corporate Controller, and Kathleen L. Bardwell as Vice President, Internal Audit.

Symmetry Receives Final Approval for Novamerican Steel Acquisition

16 October 2007 - Symmetry Holdings receives notice from the Minister of Industry approving its offer to acquire all of the issued and outstanding shares of Novamerican Steel.

EPA Objects to Draft Permit for U.S. Steel Gary Works

15 October 2007 - U.S. EPA raises formal objections to the draft wastewater discharge permit the state of Indiana has proposed for U.S. Steel Corp.'s Gary Works facility.

PTC Alliance Announces End of Strike at Alliance

15 October 2007 - Union workers at PTC Alliance Corp.’s Alliance, Ohio, plant agree to end their strike and return to work unconditionally under terms of the most recent contract.

Gerdau Ameristeel Files Prospectus for Shares Offering

15 October 2007 - Gerdau Ameristeel files preliminary documents with relevant regulatory authorities in the U.S. and Canada for a proposed offering of 110 million of its common shares.

Steel Dynamics Announces Completion of Notes Offering

15 October 2007 - Steel Dynamics consummates an unsecured note offering, proceeds of which would be used to support the company's planned acquisition of OmniSource.

AISI Commends ITC Decision on Hot-Rolled Steel Duties

12 October 2007 - The American Iron and Steel Institute issues a statement commending the U.S. International Trade Commission for its decision in the 5-year sunset review of antidumping and countervailing duty orders covering imports of hot-rolled sheet.

Allegheny Technologies Updates Earnings Outlook

12 October 2007 - Allegheny Technologies expects to report full-year 2007 earnings per share in the range of $7.00 to $7.25 per diluted share, reflecting lower-than-expected second-half 2007 earnings.

IISI Reveals Short-Range World Steel Outlook for 2007, 2008

12 October 2007 - The International Iron and Steel Institute releases world steel production forecasts for 2007 and 2008 during its recent 41st Annual Conference of IISI Members in Berlin.

ITC to Uphold Most Duties on Hot Rolled Steel Imports

11 October 2007 - The ITC will uphold existing duty orders on hot-rolled steel products imported from China, India, Indonesia, Taiwan, Thailand, and Ukraine, but will revoke duty orders for the same products imported from Argentina, Kazakhstan, Romania, and South Africa.

Gerdau Ameristeel Revises Financial Information Related to Subsidiary Guarantors

10 October 2007 - Gerdau Ameristeel announces revision of the footnote presentation of historical financial information related to its subsidiary guarantors.

PTC Alliance Operations Continue Despite Nine-Day Strike

10 October 2007 - Manufacturing operations have continued without interruption at PTC Alliance’s Alliance, Ohio, plant since the start of the United Steelworkers strike ten days ago.

AISI Releases Expanded Report on U.S. Indirect Steel Trade

10 October 2007 - The American Iron and Steel Institute has updated its analysis of U.S. indirect steel trade, a report that identifies the volume and value of steel imported and exported between the United States and 11 major countries and four regions.

Republic Introduces New Advertising Campaign

09 October 2007 - Republic Engineered Products introduces a new advertising campaign focused on the company’s heritage in high-quality steel bar and coil products.

AK Steel Reaches VEBA Settlement with Middletown Retirees

09 October 2007 - AK Steel reaches agreement with a group of Middletown Works retirees to settle a lawsuit stemming from the company's initiatives in 2006 to reduce its retiree health care costs.