Steel News

Quanex Updates Fourth Quarter Guidance

05 November 2007 - Quanex expects to report fiscal 2007 diluted earnings per share from continuing operations in a range of $3.30 to $3.35, driven by flat growth in North American light vehicle builds and a nearly 25% reduction in housing starts.

Gerdau Ameristeel Prices Offering of Common Shares

05 November 2007 - Gerdau Ameristeel receives U.S. and Canadian regulatory approval of registration statement for its proposed offering of 110 million of its common shares.

ATI Board Approves Share Repurchase, Voluntary Pension Contribution

05 November 2007 - ATI Board approves a $500-million share repurchase program, and a nearly 40% increase in ATI’s quarterly dividend, and a $100-million voluntary contribution to its U.S. defined benefit pension plan in the fourth quarter 2007.

Cleveland-Cliffs Reports 3rd-Quarter Results

05 November 2007 - Cleveland-Cliffs reports net income of $56.9 million on consolidated revenues of $619.6 million for the third quarter, and net income of $176.3 million on consolidated revenues of $1492.7 million for the nine months ended Sept. 30, 2007.

ThyssenKrupp Breaks Ground for New Alabama Facility

05 November 2007 - ThyssenKrupp Steel USA and ThyssenKrupp Stainless USA break ground on the site of the $3.7-billion carbon and stainless steel processing facility in Calvert, Ala., marking the beginning of construction for the 3500-acre plant.

Northwest Pipe Announces New CFO

02 November 2007 - Northwest Pipe announced that Stephanie J. Welty has been named Chief Financial Officer, replacing John Murakami, who is leaving the company.

Novamerican Steel Shareholders Okay Acquisition by Symmetry Holdings

02 November 2007 - Novamerican Steel shareholders approved the plan of arrangement for the company’s acquisition by a wholly-owned indirect subsidiary of Symmetry Holdings.

Olympic Steel Reports 3rd Quarter Sales and Earnings

02 November 2007 - Olympic Steel reports net income of $6.0 million on net sales of $256.1 million for the third quarter, and net income of $20.7 million on net sales of $792.9 million for the first nine months of 2007.

Gibraltar Reports 3rd Quarter Sales and Earnings

02 November 2007 - Excluding one-time charges related to the sale of Hubbell Steel and Solar Michigan, Gibraltar Industries reports $12.8 million income from continuing operations on $343 million in sales from continuing operations for the third quarter, and $35.8 million income from continuing operations on $1 billion in sales from continuing operations for the first nine months.

EPA, Steel Dynamics Reach Agreement on Clean-Air Violations

02 November 2007 - U.S. EPA Region 5 reaches an agreement with Steel Dynamics on alleged clean-air violations at the company's Butler facility.

EPA Plans Public Hearing on Gary Works Draft Permit

02 November 2007 - U.S. Environmental Protection Agency Region 5 will hold a public hearing on its objections to Indiana's draft wastewater discharge permit for U.S. Steel's Gary Works.

Expired Contract Doesn’t Stop Universal Stainless Dunkirk Workers

02 November 2007 - While negotiations for a new labor contract are underway, hourly employees at Universal Stainless & Alloy Products’ Dunkirk Specialty Steel subsidiary will continue to work under terms of the previous collective bargaining agreement, which expired at midnight on October 31, 2007.

Russel Metals Reports 3rd Quarter Earnings

01 November 2007 - Russel Metals reports net earnings of $28 million on revenues of $624 million for the third quarter of 2007.

Carpenter Technology Reports Record 1st Quarter Results

01 November 2007 - Carpenter Technology reports net income of $57.7 million on record net sales of $475 million for its fiscal first quarter.

Steel Technologies to Expand New Operation in Juarez, Mexico

01 November 2007 - With startup of its new facility in Juarez, Mexico, Steel Technologies announces plans to further expand its operations with rail service and a new multi-blanking line.

U.S. Steel Completes Stelco Acquisition, Announces Management Team

01 November 2007 - United States Steel completes its acquisition of Stelco, and names the management team for the newly acquired facilities, which have been renamed as U. S. Steel Canada.

Metals USA Reports 3rd Quarter Results

31 October 2007 - Metals USA announces net income of $7.7 million on sales revenues of $469.6 million for the quarter ended September 30, 2007.

CMC Reports Second-Best Quarterly Results

31 October 2007 - Commercial Metals reports net earnings of $104.7 million on net sales of $2.3 billion for the fourth quarter, and net earnings of $355.4 million on net sales of $8.3 billion for the year ended August 31, 2007.

U.S. Steel Reports 3rd Quarter Results

31 October 2007 - United States Steel reports net income of $269 million on net sales of $4.35 billion for the third quarter, and net income of $844 million on net sales of $12.34 billion for the first nine months of 2007.

Schnitzer Steel Reports 4th Quarter, Year-End Results

30 October 2007 - Schnitzer Steel Industries reports net income of $38 million on consolidated revenues of $749 million for the fiscal fourth quarter, and net income of $131 million on consolidated revenues of $2.6 billion for the year ended August 31, 2007.