Steel News

WCI CEO Retires as Earnings Expectations are Downgraded

09 July 2007 - WCI Steel announces the immediate retirement of Patrick G. Tatom from his roles as President, CEO, and a member of the Board of Directors. The company has also issued a warning statement about second-quarter earnings.

Key Management Changes Continue to Ripple through U. S. Steel

09 July 2007 - United States Steel announces key management changes at Gary Works, Mon Valley Works, and its ProCoil Co. steel processing subsidiary in Canton, Mich.

Timken to Supply Bearings, Maintenance Services for JSW Cold Mill

06 July 2007 - Timken will supply JSW Steel with bearings for its new cold-rolling steel mill, and will also supply rolling mill maintenance services once the mill’s construction is complete.

GE Antares Leads Credit Facility for RathGibson Acquisition

06 July 2007 - GE Antares closes a transaction as administrative agent for an $80-million senior secured facility for the acquisition of RathGibson by DLJ Merchant Banking Partners.

Northwest Pipe Acquires Continental Pipe Manufacturing

06 July 2007 - Northwest Pipe announces the acquisition of the operating assets of Continental Pipe Manufacturing of Pleasant Grove, Utah.

Pieces Continue to Fall Into Place for U. S. Steel Tubular

06 July 2007 - United States Steel appoints William P. McNally Controller-Tubular for the company’s tubular products and services business, headquartered in Dallas, Texas.

High Level of Steel Import Permit Applications Persists Through June

06 July 2007 - Steel import permit applications reach 3,082,000 net tons in June 2007, according to the latest report from the American Iron and Steel Institute.

Steel Dynamics Completes Acquisition of The Techs

05 July 2007 - Steel Dynamics completes its acquisition of The Techs for approximately $370 million, including certain purchase-price adjustments made at closing.

ThyssenKrupp Awards Site Exploration Contract

05 July 2007 - ThyssenKrupp Steel and Stainless USA has awarded a contract to Thompson Engineering of Mobile to conduct geotechnical testing in the site area of its $3.7-billion steel and stainless steel processing facility planned for Calvert, Ala.

Reliance Completes Acquisition of Clayton Metals

04 July 2007 - Reliance Steel & Aluminum completes its purchase of the outstanding capital stock of Wood Dale, Ill., based Clayton Metals, Inc.

Metals USA Announces Acquisition of Lynch Metals

04 July 2007 - Metals USA Holdings announces the acquisition of Lynch Metals and Lynch Metals of California.

Algoma Steelworkers Poised to Strike if Deal is not Reached

04 July 2007 - Members of USW Local 2251 vote 95% in favor of strike action if necessary to reach a new collective agreement with Algoma Steel.

Jury Awards Wheeling-Pittsburgh $220 Million in Lawsuit against Massey

04 July 2007 - A Brooke County, W.Va., jury unanimously awards Wheeling-Pittsburgh $219.85 million in its lawsuit against Massey Energy and subsidiary Central West Virginia Energy Co.

Ipsco Receives Consents for Cash Tender Solicitation

03 July 2007 - Ipsco has received consents from holders of approximately 99.15% of its outstanding 8-3/4 percent Senior Notes due 2013 for its previously announced tender offer and consent solicitation.

U S Steel Names Vice President of Human Resources

02 July 2007 - United States Steel announces that Susan M. Suver has been named Vice President, Human Resources, reporting to Thomas W. Sterling, Senior Vice President—Administration.

Steel Dynamics Increases Share Repurchase Program

02 July 2007 - Steel Dynamics’ Board of Directors approves a 5-million-share increase to its existing share repurchase program.

Wheeling-Pittsburgh Revises Second-Quarter Expectations

02 July 2007 - Unplanned outages, high scrap costs, and sluggish demand for flat-rolled products are prompting Wheeling-Pittsburgh to lower its second-quarter earnings expectations.

AK Steel and UAW Reach Tentative Agreement at Rockport

02 July 2007 - AK Steel and the United Auto Workers reach a tentative agreement on a new labor contract at the company's Rockport Works in Indiana.

Worthington Reports Fourth Quarter and Fiscal Year Results

29 June 2007 - Worthington Industries reports net earnings of $38.2 million on net sales of $786.6 million for the fourth quarter, and net earnings of $113.9 million on net sales of $2,971.8 million for the twelve-month period ended May 31, 2007. Annual earnings were the third best in the company’s history, after fiscal 2005 and fiscal 2006.

U. S. Steel Names Plant Manager for Longview Operations

29 June 2007 - United States Steel has named Dennis G. Quirk as Plant Manager for Longview Operations, a further result of the company’s ongoing organization of its tubular business unit following completion of its Lone Star Technologies acquisition.