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North America

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

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AK Steel Reaches Contract Agreement with Ashland Coke Workers

27 October 2004 - AK Steel Corp. announced that it has reached a progressive, four-year labor agreement at the company’s Ashland, Ky., coke plant.

Steel Dynamics Adopts New Stock Repurchase Program

27 October 2004 - Steel Dynamics, Inc.’s Board of Directors has authorized the company to buy back up to 5,000,000 shares of its common stock, or approximately 10% of the current shares outstanding.

AK Steel Reports 3rd Quarter Net Income

27 October 2004 - AK Steel reported net income of $83.1 million on record net sales of $1,337.3 million for the third quarter of 2004, and net income of $341.2 million on net sales of $3,783.5 million for the first nine months of 2004.

U. S. Steel Reports Record 3rd Quarter Results

27 October 2004 - United States Steel Corp. reported record net income of $354 million on total revenues of $3729 million for the third quarter, and net income of $623 million on total revenues of $10,176 million for the first nine months of 2004.

Dofasco Wins Approval for Repurchase Plan

26 October 2004 - The Toronto Stock Exchange has approved Dofasco Inc.’s application to make a Normal Course Issuer Bid for the repurchase of its common shares.

Dofasco Posts Record Third Quarter Results

26 October 2004 - Dofasco Inc. reported record consolidated net income of $115.0 million on record consolidated sales of $1,089 million for the third quarter of 2004. Dofasco attributes the results to higher pricing, strong operating performance and robust demand in the quarter.

ISG Reports Strong Third Quarter Results

26 October 2004 - International Steel Group Inc. reported third quarter 2004 net income of $256.4 million on net sales of $2.6 billion, and net income of $421.4 million on net sales of $6.5 billion for the nine months ended September 30, 2004.

2004 Steel Shipments 9.5% Ahead of 2003 Shipments

22 October 2004 - U.S. steel mills shipped 9,316,000 net tons in August 2004, according to the latest data released by the American Iron and Steel Institute (AISI). August shipments represent an 8.0% increase from the 8,629,000 net tons shipped in August 2003, and a 0.5% decrease from the 9,361,000 net tons shipped in the previous month, July 2004.

Universal Stainless Exceeds Forecast for 3rd Quarter Earnings Per Share

22 October 2004 - Universal Stainless & Alloy Products, Inc. reported net income of $2.7 million on sales of $33.3 million for the third quarter of 2004.

Allegheny Technologies Announces 3rd Quarter Results

22 October 2004 - Allegheny Technologies Inc. reported net income of $8.6 million on sales of $730.6 million for the third quarter ended September 30, 2004.

Reliance Steel & Aluminum Reports Record 3rd Quarter Results

22 October 2004 - Reliance Steel & Aluminum Co. reported net income of $44.1 million on record quarterly sales of $783.7 million for the third quarter and record net income of $126.8 million on record sales of record $2.2 billion for the nine months ended September 30, 2004.

Ryerson Tull Reports 3rd Quarter Results

22 October 2004 - Ryerson Tull, Inc. reported a net profit of $17.4 million on net sales of $898.7 million for the third quarter of 2004.

Nucor Reports Record 3rd Quarter Results

22 October 2004 - Nucor Corp. announced record consolidated net earnings of $415.4 million on record consolidated net sales of $3,239.6 million for the third quarter, and consolidated net earnings of $780.1 million on consolidated net sales of $8,287.8 million for the first nine months of 2004. Earnings for the third quarter exceeded the previous record annual earnings. Net earnings per share and average shares outstanding for all periods reflect a two-for-one stock split effective in October 2004.

Timken Latrobe to Increase Tool Steel Prices

21 October 2004 - Timken Latrobe Steel will increase prices by 6 to 8% on rounds, plate and flats tool steel and alloy products. The price change is effective with shipments beginning on November 1, 2004.

Gerdau Ameristeel Closes Offering of 70,000,000 Common Shares

21 October 2004 - Gerdau Ameristeel Corp. announced completion of its offering of 70 million common shares.

Metals USA Reports 3rd Quarter Profits

21 October 2004 - Metals USA, Inc. announced net income of $31.8 million on net sales of $412.6 million for the third quarter and net income of $84.0 million on net sales of over $1.1 billion for the nine months ended September 30, 2004.

Dofasco Steel for Construction Certified with EcoLogo

21 October 2004 - Dofasco steel for construction products has been certified to Environment Canada's Environmental Choice(M) Program. Dofasco’s steel will carry the EcoLogo(M) symbol, which provides customers assurance they have made an environmentally responsible decision when using Dofasco steel for their steel building products.

Stelco Reaches Agreement with GM, Receives Court Approval of Capital Raising Process

21 October 2004 - Stelco Inc. received Court approval of a process designed to raise capital and to pursue the sale of non-core assets. The company also announced that it has reached an agreement with General Motors (GM) regarding the sourcing of supply in 2005.

Ipsco Announces Location and Supplier for Plate Processing Facility

21 October 2004 - Ipsco Inc. will build its new continuous plate heat treating operation in Mobile, Ala.

Roanoke Electric Steel Raises Dividend Rate

20 October 2004 - Roanoke Electric Steel Corp.’s Board of Directors declared the 184th consecutive quarterly common stock cash dividend in the amount of 11 cents per share.

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