North America
All the latest headlines from NAFTA trading partners: the U.S., Canada and Mexico.
Latest News
EPA Region 5 Issues Administrative Order, Citation
24 January 2005 - U.S. Environmental Protection Agency Region 5 has issued an administrative consent order to Rotary Lift that requires the company to comply with the state operating permit issued to its Madison, Ind., metal fabrication facility. Rotary Lift had told EPA that it believed it had violated its permit.
Carpenter Technology Reports 2nd Quarter Results
24 January 2005 - Carpenter Technology Corp. reported record second quarter net income of $32.5 million on record net sales of $312.1 million for the second fiscal quarter ended December 31, 2004. The record sales and net income reflected strong market conditions and a continued focus on costs through lean and variation reduction.
Bricmont to Upgrade Chaparral Section Mill Reheat Furnace
21 January 2005 - Bricmont Inc., Canonsburg, Pa., received a multimillion-dollar contract from Chaparral Steel in Midlothian, Texas, to upgrade and expand their large section mill walking beam reheat furnace.
Mesabi Trust Declares Distribution
21 January 2005 - Trustees of Mesabi Trust declared a distribution of $0.295 per Unit of Beneficial Interest payable on February 20, 2005 to Mesabi Trust unitholders of record at the close of business on January 30, 2005.
Ipsco and Its Employees Give Generously to United Way
20 January 2005 - Ipsco Inc. and its employees have donated nearly $260,000 (USD) towards various United Way Campaigns in the communities in which it operates. Campaigns for the internationally recognized charity are conducted at each Ipsco site, with the company matching each dollar pledged by its employees.
Amsted Pipe Plant Settles Hazardous Waste Storage Violations
19 January 2005 - The U.S. Environmental Protection Agency announced that Chicago-based Amsted Industries, Inc. has settled alleged violations of federal and state hazardous waste regulations at the company’s Griffin Pipe Products facility in Lynchburg, Va.
Core to Supply STC Furnaces for Charter Steel Facility
19 January 2005 - Charter Steel has contracted Core Furnace Systems for turn-key supply of four STC (Short Time Cycle) furnaces at the company’s Rising Sun, Ohio, coil processing and distribution facility. The installation will bring the number of STC furnaces on this site to eight.
Advanced Gauging Technologies Celebrates Hundredth Application
18 January 2005 - Advanced Gauging Technologies, Plain City, Ohio, recently sold its one hundredth AGT400 Thickness Gauge & SPC Reporting System to Red Bud Industries, located in Red Bud, Ill. Red Bud will utilize the system as part of an upgrade for MC Steel Inc., Elk Grove Village, Ill.
2004 Steel Shipments Ahead by 7.6 Percent through November
18 January 2005 - U.S. steel mills shipped 9,032,000 net tons in November 2004, according to the latest data released by the American Iron and Steel Institute. November shipments reflect a 6.4% increase from the 8,485,000 net tons shipped in November 2003, and a 3.2% decrease from the 9,326,000 net tons shipped in the previous month, October 2004. For the first eleven months of 2004, steel shipments were 103,797,000 net tons, representing a 7.6% increase from the 96,509,000 net tons shipped during the same period in 2003.
Danieli to Upgrade Gerdau Ameristeel Finishing Facilities at Whitby, Cartersville
18 January 2005 - Gerdau Ameristeel Corp. recently awarded Danieli Morgårdshammar contracts to upgrade and modernize its Whitby, Ont., and Cartersville, Ga., facilities.
Court Allows Stelco to Extend Deadline for Binding Offers
18 January 2005 - The Superior Court of Justice (Ontario) has approved Stelco Inc.’s application to amend the provisions of its capital raising process. Stelco had applied for permission to extend the deadline for filing of binding offers for Stelco's core business, its non-core subsidiaries, or both, from January 31, 2005 to February 14, 2005.
Maverick Tube Realigns Finance Department
17 January 2005 - Maverick Tube Corp. announced realignment of its Finance Department. As part of the realignment, Pamela G. Boone, 41, the company's current Vice President and Chief Financial Officer, will take the position of Vice President and Treasurer. Kevin J. Schnurbusch, 34, the company's Corporate Controller, will take the position of Chief Accounting Officer.
Carpenter Technology Raises Prices on Premium and Specialty Products
17 January 2005 - Carpenter Technology Corp.’s Specialty Alloys Operations unit will increase base prices 7 to 13% on all premium-melted alloys in all product forms, effective immediately on all new orders.
AK Steel Announces February Surcharges
17 January 2005 - AK Steel has advised its flat-rolled carbon steel customers that the company will add a $196 per ton surcharge to invoices for products shipped in February 2005, a decrease of $9 from January's surcharge of $205 per ton. AK Steel has also advised its electrical steel customers that a $410 per ton surcharge will be added to invoices for electrical steel products shipped in February 2005, an increase of $10 from the January surcharge of $400 per ton for those products.
Timken Increases 2004 Earnings Estimate
14 January 2005 - The Timken Co. is increasing its 2004 earnings estimate, excluding special items, to $1.30 to $1.35 per diluted share, which compares to a previous estimate of $1.20 to $1.25.
Allegheny Ludlum Wins Fuel Cell Material Development Contract
14 January 2005 - Allegheny Technologies Inc. announced that ATI Allegheny Ludlum has been awarded a subcontract from the University of Pittsburgh with support from the U.S. Department of Energy (DoE) to develop specialty metallic materials for use in fuel cells intended for the power generation industry.
Stelco Hopes to Extend Deadline for Binding Offers
14 January 2005 - Stelco Inc.’s court-appointed Monitor has filed its Sixteenth Report regarding the company's Court-supervised restructuring. The Report outlines the Court-appointed Monitor’s recommendation that the deadline for parties to file binding offers for Stelco's core business, non-core subsidiaries, or both be extended from January 31, 2005 to February 14, 2005.
MEPS International Steel Market Roundup
13 January 2005 - According to MEPS (International) Ltd., U.S. market activity for Flat Products is flat. The mills, faced with weak fourth quarter order books, started seasonal maintenance shutdowns in November that have continued through this month. With high customer inventories, mill transaction prices continue to slip. MEPS has received unconfirmed reports that surcharges are not being universally applied, especially to large volume purchasers. Steel market conditions are expected to improve in the first quarter, and AK Steel Corp. has already announced a $US50 per ton hike. Canadian market activity continues to be subdued, with inventory levels apparently more tailored to present-day demand than those in the US. However, MEPS has monitored further drops in transaction values over the last four weeks.
Wheeling-Pitt Commences Efficiency-Based Technology Initiatives
13 January 2005 - Wheeling-Pittsburgh Steel Corp. announced recent technology initiatives designed to drive business efficiency and enhanced customer service. The company currently uses solutions from i2 Technologies, Inc., and recently began implementing solutions from Steelman Software Solutions Inc. These technology upgrades to the company's computerized planning, order management, mill scheduling and production tracking tools are designed to help gain a competitive edge.
Cliffs Commences Tender Offer for Portman Limited
12 January 2005 - Cleveland-Cliffs Inc. announced commencement of a negotiated A$3.40 per share all-cash tender offer for all outstanding shares issued by Portman Limited. If the tender offer is fully subscribed, the net acquisition price would total approximately US$465 million (at an exchange rate of A$1 = US$0.77) and would be financed with existing cash and new borrowings of $100 million.
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