Steel News

SMS Meer to Supply Wire Rod and Bar Mill for Hmisho Trading

18 May 2007 - Hmisho Trading Group, Syria, has placed an order with SMS Meer for the supply of a new combined wire rod and bar mill that will incorporate technology for the endless rolling of bars.

Danieli Corus to Design Greenfield Blast Furnace for AMK

18 May 2007 - Alchevskiy Metallurgicheskiy Kombinat (AMK) has awarded Danieli Corus an order for design and supply of a greenfield blast furnace installation at its facility in southeastern Ukraine.

MacSteel Service Centers USA Opens New Tucson Facility

18 May 2007 - MacSteel Service Centers USA has opened a new $10-million metals processing and distribution service center in the Century Park research Center in Tucson, Ariz.

March Steel Shipments Down 5.1% from Last Year

18 May 2007 - U.S. steel mills shipped 9,331,000 net tons of steel in March 2007, according to the latest report from the American Iron and Steel Institute.

Quanex to Review Strategic Alternatives for Building Products Group

17 May 2007 - Quanex’s Board of Directors has initiated a review of strategic alternatives for its Building Products group, which consists of Engineered Products and Aluminum Sheet Products.

Arcelor Mittal Announces Further Details on Legal Merger Process

17 May 2007 - The Boards of Directors of Mittal Steel and Arcelor announced further details about the process for the legal merger into Arcelor that was agreed in the context of Mittal Steel’s exchange offer completed on August 1, 2006.

U.S. Steel Prices $1.1 Billion Senior Unsecured Notes

17 May 2007 - United States Steel prices $300 million of 5.65% Senior Notes due 2013, $450 million of 6.05% Senior Notes due 2017, and $350 million of 6.65% Senior Notes due 2037.Part of the proceeds of the offering will be used to fund a portion of the company’s recently approved acquisition of Lone Star Steel.

Olympic Steel Makes Management Changes

16 May 2007 - Olympic announced that Esther Potash will assume the role of Chief Information Officer, and Frank Ruane will assume the position of Vice President – Purchasing & Materials Management.

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.

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