Steel News

Kelk to Equip Tangshan Iron & Steel with Sensors

01 December 2004 - George Kelk Corp., Toronto, Canada, recently received an order from Siemens AG, Germany, for an Accuband Crop Optimization System, Rollmax Slab Load Cells, and Accuspeed Laser Velocimeter, to be utilized on Tangshan Iron & Steel Co.’s hot strip mill.

Danieli to Upgrade and Expand Qasco Meltshop

01 December 2004 - Qatar Steel Co. (Qasco) recently selected Danieli Centro Met for a major meltshop upgrade and expansion. The project is slated to add approximately 600,000 tonnes per year of production capacity for commercial and quality steel billets.

Posco Fosters Increasing Innovation through Six Sigma Training

01 December 2004 - Posco executives recently completed their Six Sigma leadership education program. Armed with new knowledge and skills from their training, Posco executives hope to create innovative activities that will increase the company’s value and improve the overall working environment.

Nippon Steel and Posco Enter Coal Supply Agreement with Elk Valley Coal

01 December 2004 - Fording Canadian Coal Trust, Teck Cominco Ltd., Nippon Steel Corp.(NSC) and Posco have entered into letters of intent which contemplate that NSC and Posco will enter into 10 year sales contracts covering an aggregate of 4.85 million tonnes per annum of metallurgical coal for 2005 from the Elkview and other Elk Valley mines. The contracts provide for a 6.25 million tonnes per annum increase for the 2007 coal year onwards.

ThyssenKrupp Steel and CVRD Plan Joint Steel Mill Project

01 December 2004 - The Supervisory Board of ThyssenKrupp Steel AG recently approved plans to conclude a joint feasibility study with Brazilian iron ore producer Companhia Vale do Rio Doce (CVRD) on the construction of a steel mill in Brazil. This procedure has also been approved by the Supervisory Boards of ThyssenKrupp AG and ThyssenKrupp Stahl AG.

OSHA Cites Globe Metallurgical for Safety Hazards Following Accident Investigation

30 November 2004 - The U.S. Labor Department's Occupational Safety and Health Administration (OSHA) has cited Globe Metallurgical Inc., and proposed $40,500 in total penalties, following investigation of a fatal accident at the company's Selma, Ala., plant.

Timken Latrobe to Increase High-speed Steel Prices

30 November 2004 - Timken Latrobe Steel announced it would increase prices by 5% on all high speed steel products.

Court Approves Deutsche Bank Proposal as Stalking Horse Bid

30 November 2004 - The Superior Court of Justice (Ontario) has approved the Deutsche Bank commitment as the stalking horse in Stelco Inc.’s capital raising process. The Court also approved amendments to the process itself that were proposed by the company.

Dofasco Files Short Form Prospectus

29 November 2004 - Dofasco Inc. has filed a final short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada.

Republic Announces Plans for New Caster at Canton Plant

29 November 2004 - Republic Engineered Products Inc. announced plans for an approximately $50 million investment that includes a second continuous caster at its Canton plant.

Stelco Court Monitor Files Second Supplemental 11th Report

29 November 2004 - Stelco Inc.’s court-appointed Monitor has filed a Second Supplemental Eleventh Report regarding the company's Court-supervised restructuring. The Report provides an update on the amended Deutsche Bank commitment letter announced by Stelco, including the Monitor's views regarding the commitment.

Wheeling-Pittsburgh Makes First Heat from Continuous EAF

29 November 2004 - Wheeling-Pittsburgh Steel Corp. completed the first heat in its continuous electric arc furnace (EAF) at approximately 11:50 a.m., Sunday, Nov. 28, less than 16 months after the project was authorized. The EAF is located at the company's Mingo Junction, Ohio, Plant.

Ryerson Tull Announces Proposed Private Offering

28 November 2004 - Ryerson Tull, Inc. announced that it intends to privately offer, subject to market conditions and other factors, $150 million aggregate principal amount of senior notes due 2011.

Registration Statement Filed for Republic IPO

28 November 2004 - PAV Republic, Inc., the parent company of Republic Engineered Products, Inc., has filed a registration statement with the SEC regarding a proposed initial public offering of common stock.

ArvinMeritor Sells Coil Coating Business to Willis Stein & Partners

28 November 2004 - ArvinMeritor, Inc. has sold Roll Coater, Inc., a wholly owned subsidiary, to an affiliate of Willis Stein & Partners. The cash purchase price of the stock transaction is approximately $162.5 million.

Stelco Negotiates Amended Deutsche Bank Commitment

28 November 2004 - Stelco Inc. has successfully negotiated Commitments from Deutsche Bank and its affiliates to replace the previously announced Commitments, which had depended on a General Motors contract. Stelco's Board of Directors unanimously approved the company entering into the revised Commitments with Deutsche Bank.

Ryerson Tull Announces Exercise of Option on Senior Notes

24 November 2004 - Initial purchasers have exercised the $30 million option granted to them in connection with Ryerson Tull Inc.'s offering of 3.50% Convertible Senior Notes due 2024, bringing the total aggregate principal amount of notes sold to $175 million. The offering closed on November 10, 2004.

Court Delay Prompts Steelworkers to Urge Consideration of Union Principles

24 November 2004 - With the court delaying its decision on Stelco Inc.'s refinancing deal with Deutsche Bank, the United Steelworkers is urging that the company ensure that the union's seven principles are adhered to in its capital-raising process.

GE Commercial Finance to Provide $173.5 Million in Financing for U. S. Steel

24 November 2004 - GE Commercial Finance Corporate Lending announced it has provided $173.5 million in financing to United States Steel Corp.

Commercial Metals Declares 2-for-1 Stock Split

23 November 2004 - Commercial Metals Co.’s board of directors declared a two-for-one stock split in the form of a 100% stock dividend on the company's common stock payable January 10, 2005 to shareholders of record December 13, 2004. Each stockholder of record will receive one additional share of CMC common stock for each share held as of the record date.