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North America

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

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NS Group Clarifies Standard & Poors Rating Announcement

01 March 2005 - NS Group, Inc. requested Standard & Poors to cancel its service to provide ongoing coverage in order to save annual fees. The company states that it lacks the need for a debt rating because it has no outstanding long-term debt.

YouthStream Media Networks to Acquire Kentucky Electric Steel

01 March 2005 - YouthStream Media Networks, Inc. has entered into definitive agreements to acquire KES Acquisition Co., LLC, the owner and operator of Kentucky Electric Steel, Ashland, Ky.

Aceros Arequipa Restarts Upgraded Meltshop

01 March 2005 - Operations were recently restarted at the upgraded 40-tonne EAF at Aceros Arequipa, Peru.

Morgan to Supply Rod Outlet for Sibasa Bar Mill

01 March 2005 - Morgan Construction Co. has received a contract from Siderurgica Lazaro Cardenas – Las Turchas, SA de CV, for a new rod outlet to be installed at the company’s existing Sibasa mill in Celaya, Mexico.

Cosipa to Optimize Deliveries with Broner Dispatch Scheduler

01 March 2005 - Companhia Siderúrgica Paulista (Cosipa) has selected Broner Metals Solutions’ advanced dispatch scheduling software to help improve its delivery processes for both home and export markets.

Morgan Commissions Bar RSM for Echeng Iron and Steel

01 March 2005 - Morgan Construction Co., Worcester, Mass., is commissioning its first bar reducing/sizing (BRSM) mill installed in China. Designed and built by Morgan, the new mill was installed late last year at Echeng Iron & Steel Co., Ltd., in Echeng, Hubei Province, P.R. China.

Posco Pledges Support for Small and Medium Enterprises

01 March 2005 - Posco is moving forward with its co-survival management strategy through setting and enforcing an extensive small and medium enterprise support plan in all units including sales, procurement, outsourcing and human resource management.

Quanex Reports First Quarter 2005 Results

01 March 2005 - Quanex Corp. reported record net income from continuing operations of $33.7 million on record net sales of $470.2 million for its fiscal first quarter.

Specialty Steel Producers Release YTD November 2004 Data

28 February 2005 - Data released by the Specialty Steel Industry of North America (SSINA) show that stainless steel imports have increased to 600,392 tons through Nov. 2004. The 32% increase in stainless imports (compared to YTD 2003) significantly overshadows the 13% growth in domestic stainless steel consumption over the same period. Total specialty steel imports (including stainless, alloy tool steel and electrical steel) increased by 25% over the same period, nearly double the 13% growth in specialty steel consumption.

Stelco Comments on Court Decisions

28 February 2005 - Stelco Inc. commented on the Court hearing held Friday. Feb. 25, in the matter of the company's Court-supervised restructuring.

Nucor Slates Vacuum Degassers for Decatur and Hickman

28 February 2005 - Nucor Corp. announced plans to install vacuum degassers at the sheet mill in Decatur, Ala., and at the sheet mill in Hickman, Ark.

North American Galvanizing to Purchase Gregory Facility

25 February 2005 - North American Galvanizing & Coatings, Inc. has reached a tentative agreement with Gregory Industries, Inc. for the purchase of Gregory's hot-dip galvanizing assets located in Canton, Ohio. Terms of the transaction were not announced.

Stelco Court Monitor Files 19th Report

25 February 2005 - Stelco Inc.’s court-appointed Monitor has filed its Nineteenth Report regarding the company's Court-supervised restructuring. The Report outlines progress in the company’s capital raising and asset sale process, and the retired salaried employees' request for a bid review committee.

Olympic Steel Announces Management Changes

24 February 2005 - David A. Wolfort, President & Chief Operating Officer of Olympic Steel, Inc. announced that Jerry Gea, Regional Vice President of the Eastern Region will retire effective March 1.

Northwest Pipe Reports Record 2004 Results

24 February 2005 - Northwest Pipe Co. reported its highest-ever quarterly sales and earnings: net income of $4.2 million on sales of $80.3 million for the fourth quarter of 2004. The company also reported net income of $12.4 million on record sales of $291.9 million for the year 2004.

Ispat Inland Reports Record Earnings in 2004

24 February 2005 - Ispat Inland Inc. reported net income of $41.7 million on sales revenue of $811.0 million for the fourth quarter, and record net income of $258.7 million on sales revenue of $3,157.6 million for the year 2004.

Millcraft SMS Services Becomes a Kop-Flex Service Center Provider

23 February 2005 - Millcraft SMS Services LLC and Kop-Flex, Inc. have forged an agreement to provide factory-authorized service and repair of Kop-Flex power transmission couplings.

Olympic Steel Reports Record Results for 2004

23 February 2005 - Olympic Steel, Inc. announced record net income of $12.2 million on record sales of $240.2 million for the fourth quarter and record net income of $60.1 million on record net sales of $894.2 million for the year ended December 31, 2004.

Gallatin Steel and Employees Support Tsunami Relief Effort

23 February 2005 - Gallatin Steel and its employees have contributed $105,490 to the tsunami relief effort in South Asia.

Metals USA Reports Record Earnings for 2004

23 February 2005 - Metals USA Inc. announced record net income of $20.5 million on net sales of $394.4 million for the fourth quarter, and net income of $104.5 million on net sales of $1.51 billion for the full year ended Dec. 31, 2004.

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