Steel News

OSHA Cites Republic for Safety and Health Violations

12 July 2007 - The Occupational Safety and Health Administration proposes $163,000 in fines against Republic Engineered Products for alleged multiple willful, serious and repeat violations of federal workplace safety and health standards.

Chaparral Steel Reports Record Year-End Earnings

12 July 2007 - Chaparral Steel reports record net income of $80.2 million on net sales of $489 million for the fourth quarter, and record net income of $269.3 million on net sales of $1723 million for the 2007 fiscal year.

Future a Little Brighter for Potential Hamilton Specialty Buyer

11 July 2007 - Reaching a tentative agreement with the possible buyer for Hamilton Specialty Bar, steelworkers say the plant could reopen as early as August.

Domestic Industry Applauds ITC Decision on Rebar Imports

11 July 2007 - AISI, SMA, and counsel to the Rebar Trade Action Coalition express their appreciation to the U.S. International Trade Commission for its decision to maintain antidumping duties on steel reinforcing bar imports from China, Belarus, Indonesia, Latvia, Moldova, Poland and Ukraine.

ITC to Uphold Most Antidumping Duties on Rebar

11 July 2007 - The U.S. International Trade Commission will uphold existing antidumping duty orders on steel concrete reinforcing bar from Belarus, China, Indonesia, Latvia, Moldova, Poland, and Ukraine, but will revoke a similar order for the same product imported from Korea.

Gerdau Ameristeel to Acquire Chaparral Steel

11 July 2007 - Gerdau Ameristeel signs definitive merger agreement to acquire Chaparral Steel for US$86.00 per share in cash, valuing Chaparral Steel's equity at US$4.22 billion.

Schnitzer Steel Reports Record 3rd Quarter Earnings

10 July 2007 - Schnitzer Steel Industries reports net income of $44 million for the fiscal 2007 third quarter, a third-quarter record, and net income of $93 million for the first nine months ended May 31, 2007.

UAW Members Ratify Contract at Rockport Works

10 July 2007 - Members of the United Auto Workers Local 3044 ratify a new six-year labor agreement covering about 190 hourly production employees at AK Steel's Rockport Works.

Carpenter Announces New Chief Financial Officer

10 July 2007 - Carpenter Technology announces that K. Douglas Ralph has joined the company as Senior Vice President—Finance and Chief Financial Officer, effective immediately.

USW Local Authorizes Salaried Algoma Staffers to Strike

09 July 2007 - Members of the United Steelworkers' (USW) Local 2724, representing 586 salaried staff at Algoma Steel, have given a strong mandate to their negotiating team by voting in favor of strike action if their executive concludes that it is necessary to reach a contract settlement.

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.