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North America

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

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Northwest Pipe Announces Major Order

23 December 2004 - Northwest Pipe Co. will supply approximately $8.2 million of welded steel pipe to the Parthenia Trunkline, a project for the City of Los Angeles Department of Water and Power.

Despite November Dip, Steel Imports Still Over 50% Higher than 2003

23 December 2004 - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported November imports of steel into the United States were slightly lower than in October — 3,114,000 net tons, including 2,461,000 net tons of finished steel. Although total November imports reflect a decline of 11.7%, and finished imports declined 10.9%, compared to October, year-to-date imports (YTD) remain 52.7% higher in both categories.

Mill Services Closes Acquisition of Tube City

23 December 2004 - Mill Services Corp. has closed its previously announced acquisition of Tube City LLC. The investment was led by Wellspring Capital Management LLC and certain managers from both companies. Terms of the deal were not disclosed.

Wheeling-Pittsburgh Steel Restarts Basic Oxygen Furnace

23 December 2004 - Wheeling-Pittsburgh Steel Corp. restarted production from its Basic Oxygen Furnace (BOF) facility Wednesday, Dec. 22. The BOF had been down for about 12 days following a collapse of ductwork and associated equipment at the BOF facility.

EMJ Announces Financial Restructuring

22 December 2004 - The Earle M. Jorgensen Co. announced further developments in connection with the proposed merger and financial restructuring of EMJ and its parent, Earle M. Jorgensen Holding Co. Inc.

EPA Releases Draft Metals Risk Assessment Framework

22 December 2004 - EPA released its “Draft Framework for Inorganic Metals Risk Assessment” on Tuesday, Dec. 21. The draft framework is available for public comment through Jan. 18, 2005.

Nucor Steel to Implement EAM Solution from IFS

22 December 2004 - Nucor Corp. has signed a contract with IFS to implement IFS Applications(TM) business software. Nucor will use IFS' maintenance, purchasing, and inventory applications at its Jewett, Texas, facility, which produces carbon steel shapes and bar products.

Algoma Shows Interest in Stelco Assets

22 December 2004 - Algoma Steel Inc. has entered into the process for reviewing a potential acquisition of Stelco.

Stelco Welcomes Two New Bidders to Capital Raising Process

22 December 2004 - Stelco Inc. announced that two additional prospective bidders made public their expressions of interest in Stelco's core integrated and non-core businesses.

Worthington Announces Private Placement Note Financing

21 December 2004 - Worthington Industries, Inc. has issued $100 million of ten-year unsecured Senior Notes due 2014 through a private placement arranged by Wachovia Securities and Scotia Capital. The Notes bear interest at a variable rate spread over six-month LIBOR of 80 basis points (0.80%).

Court Approves Claims Process for Stelco Creditors

21 December 2004 - The Superior Court of Justice (Ontario) approved a creditors' Claims Procedure Process for Stelco Inc.’s restructuring. Approval was granted during a hearing held Friday, Dec. 17.

ISG to Restart Burns Harbor Plate Mill

21 December 2004 - International Steel Group Inc. announced plans to restart its idled 110-inch plate mill located at the company's Burns Harbor facility. Prompted by increasing customer needs, the mill is expected to resume production early in the second quarter of 2005 and to employ an additional 80 employees at the Burns Harbor facility, ISG's largest plant.

CMC Reports Record Quarterly Earnings

20 December 2004 - Commercial Metals Co. reported record quarterly net earnings of $73.7 million on net sales of $1.53 billion for the quarter ended November 30, 2004. This is the third consecutive quarter in which net earnings exceeded those for any previous complete fiscal year before fiscal 2004.

ISG Receives Early Termination of Waiting Period for Merger

20 December 2004 - International Steel Group Inc. has received early termination of the waiting period under Hart-Scott-Rodino Act for the previously announced merger of ISG and Ispat International NV.

Allegheny Ludlum Starts up 2nd Danieli EAF

17 December 2004 - Allegheny Ludlum recently started up a second Danieli electric arc furnace (EAF) at its Brackenridge, Pa., meltshop.

Maverick Tube Selects Location for New Republic Conduit Facility

17 December 2004 - Maverick Tube Corp. announced that it will locate its new, state-of-the-art Republic Conduit facility in Louisville, Ky., pending receipt of applicable permits.

Worthington Reports Record Second Quarter Results

17 December 2004 - Worthington Industries, Inc. reported net earnings of $47.6 million on net sales of $745.2 million, and net earnings of $105.5 million on net sales of $1,514.5 million for the three and six-month periods ended November 30, 2004.

Bankruptcy Court Criticizes WCI Steel Reorganization Plans

17 December 2004 - U.S. Bankruptcy Judge Marilyn Shea-Stonum filed an opinion late Wednesday concerning confirmation of the two proposed WCI Steel, Inc. reorganization plans previously presented to the court.

AK Steel Announces January 2005 Surcharges

16 December 2004 - AK Steel will add a $205 per ton surcharge for flat-rolled carbon steel products shipped in January 2005, an increase of $52 from December's surcharge of $153 per ton. A $400 per ton surcharge will be added to electrical steel products shipped in January 2005, up $140 from the December surcharge of $260 per ton for those products. January surcharges for AK Steel’s stainless steel products are available on the company's website.

Grupo Imsa Joins Consortium in Slab Supply Contract

16 December 2004 - Grupo Imsa SA de CV has signed a 10-year off-take agreement for slab with Corus Group, U.K., through its facility located in Teesside, England. Gruppo Marcegaglia, Italy, and Duferco International, Italy/Switzerland, are also participating in the agreement. In addition, Dongkuk Steel, Korea, has the right to join the consortium before January 5, 2005.

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