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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 Announces November Surcharges

20 October 2004 - AK Steel has advised its flat-rolled carbon steel customers that a $149 per ton surcharge will be added to invoices for products shipped in November, a decrease of $8 from October's surcharge of $157 per ton. The company also advised its electrical steel customers that a $250 per ton surcharge will be added to invoices for electrical steel products shipped in November, down $45 from the October surcharge of $295 per ton for those products.

Auto/Steel Partnership Announces Executive Director

20 October 2004 - The Auto/Steel Partnership (A/SP) Joint Policy Board announced the appointment of Dr. Roger A. Heimbuch as executive director of the Partnership.

Ipsco Employees Provide Hurricane Relief in Alabama

20 October 2004 - Ipsco and its employees have contributed close to $60,000 to support those in Alabama most affected by Hurricane Ivan.

Olympic Steel Reports Record 3rd Quarter Income

20 October 2004 - Olympic Steel, Inc. reported net income of $18.6 million on net sales of $244.1 million for the third quarter — the highest quarterly results in company history — for the third quarter ending September 30, 2004.

Commercial Metals Reports Record 4th Quarter Earnings

20 October 2004 - Commercial Metals Co. reported record net earnings of $47.4 million on net sales of $1.5 billion for the fourth quarter and net earnings of $132.0 million on net sales of $4.8 billion for the year ended August 31, 2004.

OSHA Cites Pipemaker for Exposing Workers to Hazardous Chemicals

19 October 2004 - The U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) has proposed penalties of $50,850 on pipe manufacturer Amitech USA for allegedly failing to protect employees from hazardous chemical exposure.

California Metal Finisher to Pay the EPA $15,000 in Cleanup Costs

19 October 2004 - Recently the previous owner of an abandoned metal plating facility in Oakland, Calif. agreed to pay the U.S. Environmental Protection Agency $15,000 toward costs incurred by the agency to clean up vats, drums and containers of chemicals at the site three years ago.

U. S. Steel Names General Manager of Processed Products

19 October 2004 - United States Steel Corp. announced that it will centralize its sheet products processing and delivery operations and has appointed Lisa A. Roudabush as General Manager—Processed Products to oversee the new organization.

Maverick Tube Reports Record 3rd Quarter Results

19 October 2004 - Maverick Tube Corp. reported net income of $68.5 million on net sales of $400.7 million, and net income of $155.3 million on net sales of $1,060.1 million for the third quarter and nine months ended September 30, 2004, respectively.

Steel Dynamics Reports Record 3rd Quarter Sales and Earnings

19 October 2004 - Steel Dynamics, Inc. announced record third quarter earnings of $114 million on record net sales of $635 million, and net income $213 million on net sales of $1545 million for the third quarter and nine months ended Sep. 30, 2004, respectively.

Gerdau Ameristeel Prices Offering of Common Shares

18 October 2004 - Gerdau Ameristeel Corp. announced that its registration statement has become effective under the U.S. Securities Act of 1933 and that it has obtained a receipt for a final prospectus from Canadian securities regulatory authorities in connection with its offering of 70 million common shares.

Strong U.S. Results to Help Ipsco Eliminate Tax Valuation Allowance

18 October 2004 - Ipsco Inc. announced that due to continued strong operating earnings, it expects to eliminate the valuation allowance related to net operating losses in the United States.

California Steel Reports Record 3rd Quarter Results

18 October 2004 - California Steel Industries, Inc. (CSI) reported its best quarterly results in the company's 20-year history, with net income of $46.1 million on sales of $388.6 million for the third quarter.

Olympic Steel Withdraws Registration for Public Offering

15 October 2004 - Olympic Steel, Inc. has withdrawn its S-3 registration statement with the Securities and Exchange Commission relating to a proposed public offering of 2,817,500 shares of its common stock. The registration statement had not become effective and no securities were sold under this S-3.

ATI Allvac Commissions Expanded Richburg Rolling Mill

15 October 2004 - ATI Allvac earlier this week commissioned its recently expanded Richburg, S.C., high performance metals long products rolling facility. The expansion significantly enlarges the facility's operating capacity and increases value-added process capabilities including coil processing.

Tenth Monitor Report Available for Stelco Restructuring

15 October 2004 - Stelco Inc. announced the filing of the Tenth Report of the Monitor for the company's Court-supervised restructuring.

EPA Cites Leed Foundry for Hazardous Waste and Stormwater Violations

14 October 2004 - The U.S. Environmental Protection Agency has cited Leed Foundry Inc. for violating hazardous waste and water pollution regulations at its iron foundry in St. Clair, Pa.

Mesabi Trust Announces Third Quarter Royalty

14 October 2004 - Trustees of Mesabi Trust declared a distribution of $0.25 per Unit of Beneficial Interest payable on November 20, 2004 to Mesabi Trust unitholders of record at the close of business on October 30, 2004. This compares to a distribution of $0.12 per Unit for the same period last year.

AK Steel Earns Integris Metals Quality Award

14 October 2004 - Integris Metals has presented its Award of Excellence to AK Steel for quality performance. The award is in recognition of AK Steel's quality performance from the fourth quarter of 2003 through the third quarter of 2004.

Sheffield Steel Completes Consent Solicitation

13 October 2004 - Sheffield Steel Corp. recently completed successfully its consent solicitation with respect to certain amendments to the Indenture for its 11-3/8% Senior Secured Notes due 2011 (CUSIP 821266AH6).

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