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North America

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

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IISI Reports World Crude Steel Productions for May 2007

26 June 2007 - World crude steel production for the 67 countries reporting to the International Iron and Steel Institute stood at an estimated 112.2 million tonnes in May — 6.4% higher than for the same month of 2006. Excluding China, world production grew by just 1.7% compared to May 2006.

U. S. Steel Lines up New Tubular Products Commercial Organization

26 June 2007 - With the completion of its acquisition of Lone Star Technologies and related companies, U.S. Steel announces changes to its tubular products commercial organization structure.

Nucor to Acquire Building Systems Supplier Magnatrax

26 June 2007 - Nucor enters into Merger Agreement to acquire Magnatrax, a leading provider of custom-engineered non-residential metal building systems, for a cash purchase price of approximately $280 million.

Domestic Producers Express Concern over Chinese Export Commitments

25 June 2007 - The American Iron and Steel Institute and the Steel Manufacturers Association express strong doubts regarding China’s stated commitment to limit steel exports to 10% of total production.

Metals USA Reports Projected 2nd Quarter Results

22 June 2007 - Metals USA announces projected second quarter operating results, including net income in the range of $13.7 to $14.7 million on net sales that will range from $475 to $490 million.

Prescription Benefits Improved for Wheeling-Pitt Retirees, Spouses

22 June 2007 - The United Steelworkers announce a benefit increase for Medicare-eligible Wheeling-Pittsburgh Steel retirees who lost health coverage when the company reorganized under Chapter 11 and subsequently enrolled in the Wheeling-Pitt Voluntary Employees’ Beneficiary Association’s Advantra programs.

April Steel Shipments Down 5.2% from Previous Month

22 June 2007 - U.S. steel mills shipped 8,849,000 net tons of steel in April 2007 according to the latest report from the American Iron and Steel Institute.

Reliance to Acquire Clayton Metals

21 June 2007 - Reliance Steel & Aluminum will acquire the outstanding capital stock of Wood Dale, Ill., based Clayton Metals, processor and distributor of aluminum, stainless steel, and red metal flat-rolled products, custom extrusions and aluminum circles.

Cliffs Names Director of Investor Relations and Communications

21 June 2007 - Cleveland-Cliffs announces the appointment of Steven Baisden as Director of Investor Relations and Corporate Communications, effective June 18, 2007.

CMC Reports Record Third Quarter

21 June 2007 - Boosted by record-setting results in four of its five operating segments, Commercial Metals reports net earnings of $99.4 million on net sales of $2.3 billion for the quarter ended May 31, 2007, ranking it as the strongest third quarter ever reported by the company.

ArcelorMittal CEO Says Quality, Sustainability are Key to Steel’s Future

21 June 2007 - To stimulate its long-term potential, the steel industry needs to start benchmarking itself against leading global manufacturing and service companies, according to Lakshmi Mittal, President and CEO of ArcelorMittal.

Essar Global Closes Acquisition of Algoma Steel

21 June 2007 - Essar Global completes its acquisition of Algoma Steel at a valuation of Canadian $1.85 billion, an all-cash consideration of $56 per share.

Steel Dynamics Announces Increased Revolving Credit Facility

20 June 2007 - Steel Dynamics has amended, restated and expanded its senior secured revolving credit facility from the prior $350-million level to a renewed 5-year $750-million facility.

Cleveland-Cliffs to License Kobe Steel’s Iron Nugget Technology

20 June 2007 - Under a new alliance, Kobe Steel will license its patented ITmk3 iron-making process to Cleveland-Cliffs for use in the U.S., Canada, Australia, and Brazil. The two companies are also planning to build a joint-venture iron nugget facility.

Ipsco Announces Cash Tender Offer and Consent Solicitation

19 June 2007 - Ipsco Inc. has commenced a cash tender offer to purchase any and all of its outstanding 8 3/4% Senior Notes due 2013, as well as a related consent solicitation to amend the indenture governing the Notes.

Timken to Increase Prices on Thermal Treated Steel Products

19 June 2007 - Timken will increase prices on double and triple thermal treated product, effective with shipments from Jan. 1, 2008.

Wheeling-Pittsburgh Comments on Scrap Supplier Lawsuits

19 June 2007 - Wheeling-Pittsburgh comments on an arbitration proceeding commenced by Herman Strauss, and a lawsuit filed by Metal Management, Inc.

Wheeling-Pittsburgh Once Again in Compliance with NASDAQ Rules

18 June 2007 - Wheeling-Pittsburgh has amended notes issued in March 2006 to affiliates of James P. Bouchard and Craig T. Bouchard, bringing the company back into compliance with NASDAQ’s Marketplace Rule 4350(i)(1)(A).

Pacific Coast Steel Acquires Las Vegas Contractor Business

15 June 2007 - Gerdau Ameristeel’s Pacific Coast Steel joint venture has agreed to purchase the assets of Valley Placers, a reinforcing steel contractor in Las Vegas that also operates a steel fabrication facility and retail construction supply business.

Dietrich Metal Framing Supports Extreme Makeover: Home Edition Project

15 June 2007 - Dietrich Metal Framing will supply metal wall and floor-framing materials for the construction of a home and a community center for a deserving family in Hawaii as part of the hit TV show Extreme Makeover: Home Edition.

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