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North America

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

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Valmont Coating Division Honored for Excellence in Galvanizing

17 May 2005 - Valmont Industries, Inc.’s Coatings Division was honored with two awards of Excellence In Hot-Dip Galvanizing. The awards competition, sponsored by the American Galvanizing Association, was based on the utilization of hot-dip galvanizing in an ideal, creative, innovative, and/or monumental fashion.

Canada Fines Mitsubishi $1,000,000 for Role in Graphite Electrode Cartel

17 May 2005 - Canada’s Competition Bureau has announced that Mitsubishi Corp. was convicted and fined $1 million by the Ontario Superior Court of Justice for aiding and abetting the implementation in Canada of a foreign-directed conspiracy to fix the price of graphite electrodes.

Mittal Steel and PA DEP Work Out Reclamation Plan for Former Mine Site

16 May 2005 - Mittal Steel USA has worked out a conceptual reclamation plan with the Pennsylvania DEP’s Bureau of Abandoned Mine Reclamation (BAMR) for an abandoned vertical mine refuse area at the company’s property near Bentleyville, Pa.

MultiServ to Expand Slag Services at Lafarge North America

13 May 2005 - Harsco Corp. announced that its MultiServ mill services division has been awarded a three-year add-on contract by Lafarge North America to provide expanded on-site steel slag screening and handling services.

Maverick Tube to Expand Coiled Tubing Capacity by 50%

13 May 2005 - Maverick Tube Corp. has begun work on a $12 million project to expand the capacity of its Precision Tube coiled tubing facility by more than 50%. The Precision Tube Houston, Texas, facility expansion is expected to be completed in the first quarter of 2006.

Stelco Court Monitor Files 29th Report

13 May 2005 - Stelco Inc.’s court-appointed Monitor has filed its twenty-ninth Report regarding the company's Court-supervised restructuring. The Report provides updated information regarding Stelco’s first quarter results and strategic capital expenditures.

Maverick Tube Announces Sale of Hollow Structural Sections Assets

12 May 2005 - Maverick Tube Corp. has executed a letter of intent regarding the sale of specific assets associated with its hollow structural sections (HSS) product line to Atlas Tube Inc. The letter of intent anticipates the purchase by Atlas of Maverick's HSS inventory and customer lists in the U.S. and Canada for a cash payment payable at closing.

U. S. Steel Steps up Start Date for No. 13 Blast Furnace Rebuild

12 May 2005 - United States Steel Corp. announced that it will take its Gary (Ind.) Works No. 13 Blast Furnace offline in late May, rather than on August 1 as previously announced.

Novamerican Announces Closing of Secondary Public Offering

11 May 2005 - Novamerican Steel Inc. announced the closing of a secondary public offering by certain of its shareholders of 1,100,000 common shares at $36.25 per share.

North American Galvanizing & Coatings Reports 1st Quarter Results

11 May 2005 - North American Galvanizing & Coatings, Inc. reported net earnings of $97,000 on sales of $9,280,000 for the first quarter ended March 31, 2005.

Algoma Steel Reports 1st Quarter Results

11 May 2005 - Algoma Steel Inc. reported net income of $89.1 million on revenues of $499.0 million for the three months ended March 31, 2005.

Russel Metals Sells Lachine Facility

10 May 2005 - Russel Metals Inc. announced the sale of its previously closed Lachine, Que., distribution center. The Lachine facility had become redundant with Russel’s acquisition of Acier Leroux.

Stelco Reports 1st Quarter Earnings

10 May 2005 - Stelco Inc. reported record net earnings of $49 million on net sales revenue of $968 million for the first quarter ended March 31, 2005.

Wheeling-Pittsburgh Reports 1st Quarter Results

10 May 2005 - Wheeling-Pittsburgh Corp. reported net income of $8.1 million on net sales of $399.5 million for the quarter ended March 31, 2005.

Allegheny Ludlum to Increase Tool Steel Prices

09 May 2005 - ATI Allegheny Ludlum will increase the net transaction price for all tool steel products, including Hot-Rolled Annealed (HRA) and Econ-O-Miser™ (Milled and Ground) products. The increase, approximately 5%, takes effect with shipments beginning May 30, 2005.

Northwest Pipe to Supply Pipe for San Diego Water Project

09 May 2005 - Northwest Pipe Co. has been named to supply approximately $14 million of welded steel pipe to L.H. Woods & Sons, Inc. of Vista, Calif. The pipe will be used for the Del Dios Reline Pipeline No. 4 project for the San Diego County Water Authority.

Universal Stainless to Expand Remelt Capacity

09 May 2005 - Universal Stainless & Alloy Products, Inc.’s Board of Directors has approved the purchase of a sixth vacuum arc remelt (VAR) furnace, which will be installed at its Bridgeville facility.

EMJ Elects Andrew Sharkey to Board

06 May 2005 - Earle M. Jorgensen Co.’s board of directors elected Andrew G. Sharkey III to serve as a director of Earle M. Jorgensen Co. (EMJ) until the next annual meeting of stockholders. Sharkey will also serve as a member of the board’s Compensation Committee and the Nominating and Corporate Governance Committee.

Ipsco Shifts Production in Response to Montpelier Mill Outage

06 May 2005 - An electrical short in a rolling mill motor has caused a production outage at Ipsco Inc.’s Montpelier, Iowa, facility. Ipsco estimates that the rolling mill outage, which is expected to last six days, will decrease earnings by approximately $0.05 per diluted share for the quarter.

Mittal Steel USA Idles Cleveland and Indiana Harbor Blast Furnaces

06 May 2005 - Prompted by continued inventory adjustments in the markets it serves, Mittal Steel USA will slow down iron production in a continued effort to adjust output.

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