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North America

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

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Steel Dynamics Names Chief Financial Officer

08 December 2004 - Steel Dynamics, Inc. announced the appointment of Gary Heasley to the position of Chief Financial Officer, effective January 1, 2005.

AK Steel Secures Coke Supply Through 2009

08 December 2004 - AK Steel has reached agreement for the supply of all anticipated coke purchases through the end of 2009.

ISG Negotiates Property Tax Deal for Warren Coke Plant Upgrade

08 December 2004 - International Steel Group Inc. and the Warren City Schools Board of Education have announced an agreement regarding partial exemption of property taxes over the next 15 years arising from future investments at ISG’s coke production facility in Warren Township.

U. S. Steel to Move Tech Center to former Homestead Works

07 December 2004 - United States Steel Corp. has entered into an agreement with Continental Real Estate, Inc. to purchase a building located in The Waterfront in Munhall, Pa., on the former site of U. S. Steel's Homestead Works. Terms of the sale were not disclosed.

AK Steel Settles Lawsuit over Environmental Violations

06 December 2004 - AK Steel has settled alleged environmental violations at the company’s specialty steel mill in Butler, PA. In a proposed consent decree lodged in federal court, AK Steel has agreed to a $1.2 million settlement consisting of a $300,000 penalty and $900,000 in projects that will reduce smog-producing ozone in Pennsylvania.

Dofasco and its Employees Donate to Tsunami Relief Fund

06 December 2004 - Dofasco is donating $100,000 to the Canadian Red Cross South Asia Earthquake and Tsunami Relief Fund.

Quanex Raises Cash Dividend, Declares 3-for-2 Stock Split

03 December 2004 - Quanex Corp. announced that its Board of Directors raised the company's common stock cash dividend by 6.5%, or $0.05 per share on an annualized basis. In a separate action, the Board declared a three-for-two stock split in the form of a 50% stock dividend.

Gibraltar Industries Names President and Chief Operating Officer

03 December 2004 - Gibraltar announced that Henning Kornbrekke, the company's President, has been promoted and named President and Chief Operating Officer, effective immediately.

TXI Chaparral Completes Automation System Upgrade at Virginia Plant

03 December 2004 - TXI Chaparral Steel recently completed an upgrade of the automation system at its Virginia facility.

Northwest Pipe Announces Consolidation and Expansion

03 December 2004 - Northwest Pipe Co. is consolidating its two southern California facilities, located in Riverside and Adelanto, into one expanded facility in Adelanto.

Maverick Tube Commences Exchange Offer

02 December 2004 - Maverick Tube Corp. has filed a registration statement on Form S-4 with the Securities and Exchange Commission to register its offer to exchange $120 million principal amount of its 2004 4.00% convertible senior subordinated notes due 2033 for an equal amount of its currently outstanding 4.00% convertible senior subordinated notes due 2033. Maverick will pay an exchange fee of $2.50 for each $1,000 principal amount of Old Notes accepted for exchange and provide public acquirer change-of-control provisions.

Stelco Director Resigns from Board

02 December 2004 - Stelco Inc. announced that Peter Dey has resigned from the Board of Directors in order to avoid any perception of conflict of interest between his role as a Director and his affiliation with Osler, Hoskin & Harcourt LLP.

Canadian Tribunal Announces Expiry of Stainless Steel Bar Ruling

02 December 2004 - The Canadian International Trade Tribunal gave notice that its October 27, 2000, finding for dumped and subsidized stainless steel bar (Inquiry No. NQ-2000-002) is scheduled to expire on October 26, 2005.

Ispat Inland Announces Partial Redemption of Notes

01 December 2004 - Ispat Inland ULC has issued a notice of redemption for $227,500,000 principal amount of its outstanding 9-3/4% Senior Secured Notes due 2014, at a redemption price equal to 109-3/4% of the outstanding principal amount being redeemed, plus accrued and unpaid interest on such amount to, but excluding, December 30, 2004. Notes will be redeemed on December 30, 2004.

Steel Imports Significantly Ahead of 2003, Despite Recent Dip

01 December 2004 - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported October imports of steel into the United States declined 11.7% compared to September, with finished steel imports 9.2%% lower than in September. Year-to-date imports are 50.2% higher than 2003, with finished steel imports 49.7% higher than in 2003. The gain of nearly 50% in finished steel imports is more than three times the 14.4% increase in steel consumption. As a result, the finished steel market share in this period has risen from 15.9 to 20.5%.

Mill Services to Acquire Tube City Holdings

01 December 2004 -  

Morgan to Upgrade German Rod Mill

01 December 2004 - Morgan Construction Co. recently received a contract from BES Brandenburger Elektrostahlwerke GmbH, Germany, for an upgrade of its four-strand rod mill.

Danieli Revamps Ori Martin Billet Caster

01 December 2004 - Danieli recently completed a major revamp of Ori Martin's 5-strand billet caster for engineering steels. The upgrade was undertaken with the objective of improving billet quality. Operation restarted successfully at the end of September 2004.

Kelk to Equip Tangshan Iron & Steel with Sensors

01 December 2004 - George Kelk Corp., Toronto, Canada, recently received an order from Siemens AG, Germany, for an Accuband Crop Optimization System, Rollmax Slab Load Cells, and Accuspeed Laser Velocimeter, to be utilized on Tangshan Iron & Steel Co.’s hot strip mill.

Danieli to Upgrade and Expand Qasco Meltshop

01 December 2004 - Qatar Steel Co. (Qasco) recently selected Danieli Centro Met for a major meltshop upgrade and expansion. The project is slated to add approximately 600,000 tonnes per year of production capacity for commercial and quality steel billets.

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