Steel News

Timken Reports 3rd Quarter Results

04 November 2004 - The Timken Co. announced net earnings of $17.5 million on sales of $1.1 billion for the third quarter, and net income of $71.3 million on sales of $3.3 billion for the first nine months of 2004.

Ryerson Tull Announces Proposed Private Offering of Senior Notes

04 November 2004 - Ryerson Tull, Inc. announced that it intends to privately offer, subject to market conditions and other factors, $125 million aggregate principal amount of convertible senior notes due 2024. The company intends to grant to the initial purchasers an option to purchase an additional $25 million aggregate principal amount of the notes within 30 days after the offering.

Wellspring Capital Management Closes IMS Acquisition

04 November 2004 - Wellspring Capital Management LLC, a New York-based private equity investment firm, completed the previously announced purchase of Horsham, Pa.-based International Mill Service, Inc. (IMS), from a shareholder group led by GSC Partners.

EPA Cites ISG Cleveland for Clean-Air Violations

04 November 2004 - U.S. Environmental Protection Agency Region 5 has cited ISG Cleveland Inc. (formerly an LTV Steel Co. Inc. facility) for alleged clean-air violations at the company's iron and steel production plant at 3060 Eggers Road, Cleveland, Ohio.

More Starts up LimeJet Technology on Charter Steel EAF

04 November 2004 - Charter Steel recently started up Moré SRL’s LimeJet, a pneumatic lime injection technology, in their 100-ton DC EAF.

Gerdau Ameristeel Announces 3rd Quarter Results

03 November 2004 - Gerdau Ameristeel Corp. reported net income of $144.3 million on net sales of $807.9 million for the quarter, and net income of $271.3 million on net sales of $2.2 billion for the nine months ended September 30, 2003.

EMJ Reports Strong 2nd Quarter Results

02 November 2004 - Earle M. Jorgensen Co. (EMJ) reported net income of $26.7 million on sales of $389.3 million for the second fiscal quarter, and net income of #48.6 million on revenues of $750.9 million for the first six months ended September 29, 2004.

Oregon Steel Mills Announces Record 3rd Quarter Results

02 November 2004 - Oregon Steel Mills, Inc. reported record net income of $50.3 million on record sales of $348 million for the third quarter of 2004.

Russula Restarts Upgraded Gerdau Ameristeel Structural Mill

02 November 2004 - Russula North America recently started up a new rolling mill control system at the Gerdau Ameristeel Structural Mill in Whitby, Ont.

Republic Starts up New Saw Line in Canton

02 November 2004 - Republic Engineered Products Inc. announced the startup of a new saw line for bars produced at its Canton plant. The $285,000 investment boosts annual cutting capacity at the Canton facility by 40,000 tons.

Gerdau Ameristeel Closes North Star Steel Acquisition

02 November 2004 - Gerdau Ameristeel Corp. has completed its acquisition of the North Star Steel assets from Cargill, Inc. The deal includes the fixed assets and working capital of four long steel product minimills in St. Paul, Minn.; Wilton, Iowa; Calvert City, Ky.; and Beaumont, Texas; three wire rod processing facilities in Beaumont, Texas; Carrollton, Texas; and Memphis, Tenn.; and a grinding ball facility in Duluth, Minn. Integration of these operations will provide Gerdau Ameristeel's customers with expanded geographical coverage and a broader range of products.

OSHA Cites Kaverit Steel and Crane Following Crane Collapse

01 November 2004 - The U.S. Labor Department's Occupational Safety and Health Administration (OSHA) has issued a serious citation to Kaverit Steel and Crane, based in Edmonton, Canada, following the death of one of its employees at the Port of Morrow in Boardman, Ore. The citation carries a proposed penalty of $7,000.

Ipsco Reports Continued Strong Earnings in Third Quarter

01 November 2004 - Ipsco Inc. announced net income of $144.5 million on sales of $641.9 million for the third quarter, and net income of $242.2 million on sales of $1,673.0 million for the nine months ended Sep. 30, 2004.

Corus Koblenz Expands Hicon Heat Treatment Capacity

01 November 2004 - As part of an extensive investment program for 2004, the Corus Group has placed an order with Austrian heat treatment specialist Ebner Industrieofenbau for the supply, installation and commissioning of a HICON® batch-type furnace facility. The furnace will be used to homogenize aluminum ingots at the company’s Koblenz Works.

Morgan to Upgrade Spanish Bar Mill

01 November 2004 - Morgan Construction Co. has signed a contract with Aceralia Redondos Zumarraga, of Zumarraga, Spain, for an upgrade to the company's twin-strand rod mill.

MultiServ Logs Two Multi-Year Contracts

01 November 2004 - Worldwide industrial services and products company Harsco Corp. announced that its MultiServ mill services division has been awarded multi-year contracts totaling more than $15 million in projected new revenues over their duration for on-site mill services at two specialty steel plants in the U.S. and UK.

Morgan to Upgrade to Brazilian Rod Mill

01 November 2004 - Morgan Construction Co. has received a contract from Belgo Mineira for a speed-up of its two-strand TL0l steel mill in João Monlevade, Brazil.

Posco Celebrates Growing Success with Six Sigma

01 November 2004 - Posco recently held its third Six Sigma Festival, with all executives and employees sharing results of various Six Sigma activities. About 500 people participated in the festival, which was broadcast live over the Internet from Posco website.

EPA Cites CSN for Clean Air Violations

01 November 2004 - U.S. Environmental Protection Agency Region 5 recently cited Companhia Siderurgica Nacional LLC for alleged clean-air violations at the company's Terre Haute, Ind., facility.

Stelco and Local 8782 Welcome Agreement with DaimlerChrysler

31 October 2004 - Stelco Inc. and United Steelworkers of America (USWA) Local 8782 jointly announced that they have reached agreement with DaimlerChrysler to extend the deadline for providing assurances regarding security of steel supply. The deadline, originally set for October 31, 2004, has now been moved to November 18, 2004.