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North America

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

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Dofasco Redeems Medium-Term Notes

16 May 2007 - Dofasco has completed redemption of all of its issued and outstanding 7.55% Series B Notes due October 1, 2008, and all of its issued and outstanding 4.961% Series A Notes due June 15, 2017 — in each case plus accrued but unpaid interest.

North American Galvanizing Announces 3-for-2 Stock Split

16 May 2007 - North American Galvanizing & Coatings’ Board of Directors declares a 3-for-2 stock split of its common stock in the form of a 50% stock dividend.

Outokumpu Acquires Sandvik’s Minority Share in OSTP

16 May 2007 - Outokumpu has acquired Swedish Sandvik’s 11.6% minority shareholding in Outokumpu Stainless Tubular Products (OSTP AB) for EUR 21.5 million.

Republic Reaches $100 Million in Plant Upgrades

15 May 2007 - New capital investments at Republic Engineered Products have now passed the $100-million mark since Republic became part of Industrias CH, SA de CV (ICH) and Grupo Simec in July 2005.

WCI Steel Reports 1st Quarter Results

15 May 2007 - WCI Steel reports a net loss of $4.3 million on net sales of $201.8 million for the first quarter ended March 31, 2007.

ALJ Announces 2nd Quarter Earnings

14 May 2007 - ALJ Regional Holdings—the parent company of Kentucky Electric Steel—reported net income of $14,652,000 million on net sales of $73,810,000 for the six months ended March 31, 2007.

U. S. Steel Gets FTC Green Light for Lone Star Acquisition

14 May 2007 - United States Steel and Lone Star Technologies have received notice from the Federal Trade Commission of early termination of the Hart-Scott-Rodino waiting period for the previously announced merger in which U. S. Steel would acquire Lone Star for a cash consideration of $67.50 per share.

Concast to Supply Second Steelworks for Icdas Celik

11 May 2007 - Concast will supply a second electric steelworks—EAF, ladle furnace, and an 8-strand billet caster—for Icdas Celik’s Biga, Turkey, location.

Heidtman Steel to Build Continuous Anneal Line

11 May 2007 - Heidtman Steel Products Inc. is finalizing plans to construct a new continuous annealing line capable of producing advanced high strength and ultra high strength steels.

Wheeling-Pittsburgh Reports 1st Quarter Results

11 May 2007 - Wheeling-Pittsburgh reports a net loss of $59.9 million on net sales of $397.7 million for the first quarter ended March 31, 2007.

And the Winner is....Alabama

11 May 2007 - ThyssenKrupp has selected Alabama as the home for its new state-of-the-art steel and stainless steel processing facility.

Steel Gains Market Share with Partnership Strategies

10 May 2007 - The North American steel industry and its strategic partners are advancing steel’s competitive edge in today’s marketplace with continued investment in advanced technologies and advanced design solutions.

Stelco Completes Refinancing of US$270 Million Term Loan

10 May 2007 - Stelco has completed a US$270 million funded term loan refinancing with GE Corporate Lending Canada that refinances the comapny's Cdn$375 million revolving term loan with a more traditional facility that has significantly lower interest rates and fees.

AISI Names Recipients of Market Development Achievement Award

10 May 2007 - The American Iron and Steel Institute announced the recipients of its Market Development Achievement Award during a ceremony held during AISI’s General Meeting in Henderson, Nev.

Algoma Steel Moves up Shareholder Meeting

10 May 2007 - Algoma Steel has advanced the date of its Annual and Special Meeting of Shareholders to June 11, 2007, based on expectations that preconditions to closing of the Arrangement could be completed by then.

Partnership Focuses on Future Following Ford Closure in Cleveland

09 May 2007 - The Greater Cleveland Partnership, the primary voice for businesses in Greater Cleveland, issued a statement regarding Ford’s announced closure of its Brook Park casting plant.

Cleveland-Cliffs Announces Replacement for Chairman John Brinzo

09 May 2007 - Cleveland-Cliffs’ Board of Directors announced its new Chairman of the Board—President and Chief Executive Officer Joseph A. Carrabba, replacing John S. Brinzo, who is retiring.

Dofasco Continues Toward Redemption of Medium Term Notes

08 May 2007 - Dofasco has provided notice of its intention to redeem all of its 7.55% Series B Notes due October 1, 2008 at the Canada Yield Price, and all of its 4.961% Series A Notes due June 15, 2017 at par, in each case plus accrued but unpaid interest.

ITC to Conduct Sunset Review of Stainless Steel Bar

08 May 2007 - The U.S. International Trade Commission (ITC) has voted to conduct full five-year "sunset" reviews of the countervailing duty order on stainless steel bar from Italy and antidumping duty orders on stainless steel bar imports from France, Germany, Italy, Korea, and the United Kingdom.

Steelworkers Adopt Wait and See Outlook on Proposed Ipsco Buyout

07 May 2007 - The United Steelworkers are viewing the announced US $7.7-billion purchase of Ipsco by Swedish Steelmaker SSAB Svenskt Stal marks as another point in their growing concern about the rapid globalization of the steel industry.

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