Steel News

Dietrich Metal Framing Forms Joint Venture with Encore Coils

11 November 2004 - Dietrich Metal Framing has formed a Canadian metal framing joint venture with Encore Coils. The joint venture will operate under the name Dietrich Metal Framing Canada.

MEPS International Steel Market Roundup

11 November 2004 - MEPS (International) Ltd provided the following summary of international flat steel and long products markets:

Republic Adds Director of Process Improvement

10 November 2004 - Republic Engineered Products Inc. announced the appointment of Randy Parrish to Director of Process Improvement.

Cleveland-Cliffs Announces Two-for-One Stock Split

10 November 2004 - Cleveland-Cliffs Inc.’s Board of Directors has approved a two-for-one stock split as well as the reinstatement of a quarterly cash dividend payment to holders of its common shares. A scheduled dividend payment on the company's 3.25% Redeemable Cumulative Convertible Perpetual Preferred Stock was also authorized.

Stelco to Evaluate Bondholder Proposal

10 November 2004 - Stelco Inc. has received a comprehensive proposal from a group of its bondholders, as well as several other expressions of interest. Stelco's Board of Directors, in consultation with its advisors, is actively reviewing the bondholder proposal.

Triple-S Steel Acquires Western Structural Steel Distributor

09 November 2004 - Triple-S Steel has acquired R&S Steel, one of the largest distributors of structural steel products in the western United States.

Northwest Pipe Announces Major Order

09 November 2004 - Northwest Pipe Co. has received a letter of intent from W.W. Clyde & Co. of Springville, Utah, for approximately $17 million of welded steel pipe for the Point of the Mountain Aqueduct, a project for the Metropolitan Water District of Salt Lake City and Sandy.

Canadian Tribunal Initiates Inquiry for Stainless Steel Wire Imports

09 November 2004 - The Canadian International Trade Tribunal has initiated a public interest inquiry to determine whether the imposition of anti-dumping duties or countervailing duties for cold drawn and annealed stainless steel round wire from the Republic of Korea, Switzerland and the United States would not be in the public interest.

Wheeling-Pittsburgh Reports 3rd Quarter Results

09 November 2004 - Wheeling-Pittsburgh Corp., the holding company of Wheeling-Pittsburgh Steel Corp., reported net income of $35.6 million on net sales of $401.8 million for the quarter ended September 30, 2004.

Stelco Reports 3rd Quarter Results

08 November 2004 - Stelco Inc. reported net earnings of $58 million on net sales revenue of $953 million in the third quarter ended September 30, 2004.

Ryerson Tull Announces Pricing of Senior Notes

05 November 2004 - Ryerson Tull, Inc. announced pricing of its Rule 144A private offering of $145 million aggregate principal amount of Convertible Senior Notes due 2024. Closing of the offering is expected to take place on November 10, 2004, subject to customary closing conditions. Initial purchasers will have the option to purchase up to an additional $30 million aggregate principal amount of notes.

CMC Acquires California Fabricating Operation

05 November 2004 - Commercial Metals Co. announced the acquisition of substantially all of the operating assets of the J. L. Davidson Co.'s rebar fabricating facility located in Rialto, Calif.

EPA Cites Spectro Alloys for Clean-Air Violations

04 November 2004 - U.S. Environmental Protection Agency Region 5 has filed an administrative complaint against Spectro Alloys Corp. for alleged clean-air violations at the company's aluminum recovery plant in Rosemount, Minn.

EPA Cites Elyria Recycling for Clean Air Violations

04 November 2004 - U.S. Environmental Protection Agency Region 5 has cited Elyria Recycling Co. for alleged violations of EPA regulations to protect stratospheric ozone at the company's scrap processing facility in Elyria, Ohio.

TXI Hires New Vice President and General Counsel

04 November 2004 - Texas Industries, Inc. recently announced the hiring of Frederick G. Anderson for the position of Vice President and General Counsel, effective November 1, 2004.

Allegheny Ludlum Announces Tool Steel Price Increase

04 November 2004 - ATI Allegheny Ludlum announced a 6% base prices increase for tool steel products, including Hot-Rolled Annealed (HRA) and Econ-O-Miser™ (Milled and Ground) products.

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.