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North America

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

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Gerdau Ameristeel Reports 3rd Quarter Results

08 November 2005 - Gerdau Ameristeel Corp. reported net income of $62.2 million on net sales of $999.3 million for the quarter and net income of $215.1 million on net sales of $3.0 billion, for the nine months ended September 30, 2005.

Apollo Financers Adjust Condition for Metals USA Acquisition

07 November 2005 - Metals USA, Inc. announced that the banks providing the debt financing for Apollo Management, LP's pending merger transaction with the company have agreed to modify their debt financing commitment letter in a manner that will result in a key financial condition being satisfied.

Benefits Increase for Wheeling-Pitt Retirees, Spouses

07 November 2005 - The United Steelworkers (USW) announced benefit increases for Wheeling-Pittsburgh Steel retirees who lost their health coverage when the company reorganized under Chapter 11 Bankruptcy Protection and have enrolled in the Wheeling-Pitt Voluntary Employees' Beneficiary Association (VEBA). The Union has also negotiated an increase in payments made by Wheeling-Pitt to surviving spouses of employees who retired prior to 1974 to $1300 and $800 yearly.

Sheffield Steel Special Committee Reports on Offers

07 November 2005 - The special committee appointed by Sheffield Steel Corp.’s Board of Directors has completed its consideration of the two unsolicited indications of interest in acquiring Sheffield Steel. The committee has determined not to pursue either proposal as presented.

Gibraltar Reports 3rd Quarter Sales and Earnings

04 November 2005 - Gibraltar Industries, Inc. reported net income of $12.7 million on sales of $282 million for the third quarter, and net income of $39.3 million on sales of $844 million for the nine months ended September 30, 2005.

Stelco Completes Sale of Stelpipe

04 November 2005 - Stelco Inc. has completed its sale of Stelpipe Ltd.’s assets to Lakeside Steel Corp. on October 31, 2005.

Northwest Pipe and Lone Star Steel Enter Marketing Alliance

04 November 2005 - Northwest Pipe Co. and Lone Star Steel Co. have entered into a strategic marketing alliance under which Lone Star Steel will be the exclusive marketing representative for Northwest Pipe's API Products in North America.

Metal Management Reports 2nd Quarter Income

03 November 2005 - Metal Management, Inc. announced net income of $16.9 million on net sales of $378 million for the second fiscal quarter, and net income of $22.4 million on net sales of $760 million for the six months ended September 30, 2005.

Algoma Steel Announces 3rd Quarter Results

03 November 2005 - Algoma Steel Inc. reported net income of $30.8 million on revenue of $446.4 million for the three months ended September 30, 2005.

Stelco to Sell Norambar, Stelfil and Stelwire to Mittal Canada

03 November 2005 - Stelco Inc. has signed a Letter of Intent concerning the sale of Norambar Inc., Stelfil Ltée and Stelwire Ltd. to Mittal Canada Inc., a subsidiary of Mittal Steel Co. NV.

Mittal Welcomes New Pact with Steelworkers

03 November 2005 - Mittal Steel USA welcomed the ratification of new collective-bargaining agreements by members of the United Steelworkers at former Ispat Inland Inc. locations in Indiana and Minnesota.

Ryerson Tull Executives Establish 10b5-1 Trading Plans

02 November 2005 - Ryerson Tull, Inc. announced that several of its executives have entered into sales plans established in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.

Gerdau Ameristeel Amends Credit Facility

02 November 2005 - Gerdau Ameristeel Corp. has amended and restated its existing senior secured revolving credit facility.

Worthington and its Employees Donate to Hurricane Relief

02 November 2005 - Worthington Industries, Inc. and its employees have donated $108,231 to the American Red Cross to benefit the victims of hurricane Katrina. The company matched dollar for dollar donations made by employees.

Steel Technologies Reports Year-End Results

02 November 2005 - Steel Technologies Inc. reported net income of $1.5 million on sales of $204.4 million for the fourth quarter, and record net income of $37.1 million on record sales of $1.0 billion for the fiscal year ended September 30, 2005.

CCR Technologies to Upgrade SDI Columbia City Caster

01 November 2005 - Steel Dynamics has awarded CCR Technologies Inc. a contract to supply a Beam Blank Weighing and Cut-to-Weight system for its existing 3-strand caster at the Columbia City facility.

Imports Continue at Steady Pace through September

01 November 2005 - The United States imported a total of 2,195,000 net tons of steel in September, according to the latest report by the American Iron and Steel Institute (AISI), which is based on preliminary Census Bureau data. The total included 1,762,000 tons of finished steel.

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