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North America

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

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EMJ Reports Fourth Quarter and Fiscal 2005 Results

26 May 2005 - Earle M. Jorgensen Co. (EMJ) reported net income of $59.4 million on revenues of revenues of $456.3 million for the fourth fiscal quarter and net income of $97.5 million on revenues of $1,608.9 million for the twelve months ended March 31, 2005.

ATI Allegheny Ludlum Announces Electrical Steel Surcharge

25 May 2005 - ATI Allegheny Ludlum announced it will add a surcharge of $285 per ton ($14.25/cwt.) to all silicon electrical steel invoices, effective with shipments beginning Wednesday, June 1, 2005.

Commercial Metals Repurchases Shares, Announces New Repurchase Authority

25 May 2005 - The Commercial Metals Company board of directors has authorized the purchase of up to 2,000,000 shares of the company's common stock.

March Steel Shipments 6.8% Higher than February

24 May 2005 - U.S. steel mills shipped 9,249,000 net tons in March 2005, according to the latest data released by the American Iron and Steel Institute (AISI). The total is a 7.9% decrease from the 10,042,000 net tons shipped in March 2004, and a 6.8% increase from the 8,661,000 net tons shipped in the previous month, February 2005.

Bayou Steel Reports Strong 2nd Quarter Results

24 May 2005 - Bayou Steel Corp. reported net income of $5.1 million on sales of $62.1 million for the second quarter (ending March 31, 2005) of fiscal 2005.

Maverick Tube to Acquire Columbian Steel Tubemakers

24 May 2005 - Maverick Tube Corp. has entered into a definitive agreement to acquire Tubos del Caribe SA, a Colombian manufacturer of oil country tubular goods (OCTG) and line pipe; substantially all of the equity interests in Consorcio Metalurgico Nacional SA, a Colombian manufacturer of steel electrical conduit and other pipe and tube products used in a variety of industrial applications; and Advance Corp., a Houston, Texas, based distributor of OCTG and electrical conduit.

Mittal Steel USA Shapes New Identity for Merged Facilities

24 May 2005 - Newly formed Mittal Steel USA has settled on names for its locations across the United States.

Maverick Tube Announces Appointment of CEO and CFO

20 May 2005 - Maverick Tube Corp.’s Board of Directors has named C. Robert Bunch, the company's Chairman, as Chief Executive Officer. The Board also appointed Joyce M. Schuldt, currently the company's Vice President—Legal and Tax and Secretary, as Senior Vice President-Finance, Chief Financial Officer and Secretary. Both appointments are effective May 18, 2005.

Schnitzer Steel Elects Former Bechtel Executive as CEO and President

20 May 2005 - Schnitzer Steel Industries’ Board of Directors has elected John D. Carter as Chief Executive Officer and President, and Kenneth M. Novack as Chairman, replacing Robert W. Philip, who stepped down from these positions. The Board also elected Mr. Carter to the Board of Directors. All appointments are effective immediately.

Steel Industry Reaches New Energy Efficiency Milestone

20 May 2005 - The American Iron and Steel Institute (AISI) reports that the United States steel industry has achieved a new milestone in energy efficiency by reducing its energy intensity per ton of steel shipped by approximately 7% in 2003 compared to 2002. This extends the industry’s drop in energy intensity to 23% since 1990. As a result of the reduction and the close relationship between energy use and greenhouse gas emissions, the industry's aggregate carbon dioxide (CO2) emissions per ton of steel shipped were also reduced by a comparable amount during the same period.

Stelco Comments on Court Directives on Mediation

20 May 2005 - Stelco Inc. has commented on decisions made by the Superior Court of Justice (Ontario) following a hearing held earlier this week in the matter of the Company's Court-supervised restructuring.

Iron Ore Company of Canada to Invest $25 Million in Rail Transport

20 May 2005 - The Iron Ore Co. of Canada (IOC) is investing over $25 million in its rail transport equipment to purchase seven new locomotives.

Gerdau Ameristeel Steelworkers Ratify Labor Agreement in Cambridge

20 May 2005 - Gerdau Ameristeel Corp. has reached agreement on a four-year contract with the United Steelworkers Local 8918 members at its steel mill in Cambridge, Ont.

Steel Dynamics Announces Accounting Vice President

19 May 2005 - Steel Dynamics, Inc. has promoted Theresa Wagler to the position of Vice President and Corporate Controller. In her new position, Wagler, 34, will continue to report to the company's Chief Financial Officer.

Stelco Court Monitor Files 30th Report

19 May 2005 - Stelco Inc.’s court-appointed Monitor has filed its thirtieth Report regarding the company's Court-supervised restructuring. The Report provides updated information regarding the proposal for a mediation process, which was originally outlined in the Monitor's 29th Report.

Ipsco President Honored as 2005 Gary Memorial Medal Recipient

19 May 2005 - Ipsco's President and CEO David Sutherland is the latest steel industry leader to be honored as a recipient of the industry’s prestigious Gary Memorial Medal. Sutherland received the award this week during the American Iron and Steel Institute's (AISI) Annual Meeting in Washington, DC.

Keith Busse Named Steelmaker of the Year at AISTech 2005

19 May 2005 - Keith E. Busse, President and CEO of Steel Dynamics Inc. was named “Steelmaker of the Year” at AISTech 2005 — The Iron & Steel Technology Conference and Exposition, managed by the Association for Iron & Steel Technology. The Steelmaker of the Year Award is presented annually by the AIST to recognize notable leaders and their contributions to the steel industry.

Following Hylsamex Acquisition, Techint to Consolidate Latin American Steel Interests

19 May 2005 - The Techint Group has entered into an agreement with Alfa SA de CV in which Techint will acquire Alfa's 42.5% shareholding in Hylsamex SA de CV.

Wheeling-Pittsburgh Announces Management Promotions

18 May 2005 - Wheeling-Pittsburgh Steel Corp. announced the promotion of Ron Shoemaker, who had been Manager of Engineering, EAF Project, to the newly created position of General Manager, Engineering & Environmental Control. In his new position, Shoemaker will report to Wheeling-Pittsburgh Steel President, Harry Page.

AK Steel Announces June Surcharges

17 May 2005 - AK Steel is adding a $213 per ton surcharge to invoices for flat-rolled carbon steel products shipped in June 2005. The company is also adding a $170 per ton surcharge for electrical steel products shipped in June 2005.

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