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North America

All the latest headlines from NAFTA trading partners: the U.S., Canada and Mexico.

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EPA Region 5 Settles Case with Steel Dynamics

25 June 2004 - U.S. Environmental Protection Agency Region 5 recently settled an administrative case involving hazardous chemical reporting violations with Steel Dynamics, Butler, Ind. An additional case was settled with Kohl's Foods, Milwaukee, Wis., and new complaints were filed against Sewall Gear Manufacturing, St. Paul, Minn., and U.S. Aluminate Co., Ashtabula, Ohio.

Novamerican Reports Record Quarterly Profit

25 June 2004 - Novamerican Steel Inc. announced net income of $20.6 million* on sales of $74.0 million for the second quarter ended May 29, 2004. This was the 26th consecutive profitable quarter for the company.

Roanoke Electric Steel Elects President

25 June 2004 - Roanoke Electric Steel Corp. announced that T. Joe Crawford has been elected President/Chief Operating Officer of the company.

Reliance Updates Outlook, Announces Business Expansions

25 June 2004 - Reliance Steel & Aluminum Co. is updating its guidance regarding the company's earnings estimates for the second quarter ended June 30, 2004.

Ryerson Tull Declares Dividends

24 June 2004 - The Board of Directors of Ryerson Tull, Inc. declared cash dividends of 5 cents per share on the company's common stock and 60 cents per share on its Series A $2.40 Cumulative Convertible Preferred Stock.

Worthington Reports Record Fiscal Year Results

24 June 2004 - Worthington Industries, Inc. reported net earnings of $39.4 million on record sales of $782.9 million and net earnings of $86.8 million on record sales of $2,379.1 million for the three and twelve month periods ended May 31, 2004, respectively.

Stelco and Union Locals Agree on Process for Talks

24 June 2004 - Stelco Inc. has reached an agreement with its USWA Locals establishing a framework for discussions on restructuring and other matters between now and September 30, 2004.

Novamerican Announces New Temper Mill

23 June 2004 - Novamerican Steel Inc. announced it will install a new in-line temper mill and cut-to-length line at the company's new 160,000 square foot central manufacturing and processing facility in Montreal. The new mill is expected to be in operation by the fourth quarter 2004.

Oregon Steel Mills to Idle Napa Pipe Mill

23 June 2004 - Oregon Steel Mills, Inc. will idle indefinitely its large-diameter pipe mill located in Napa, Calif., beginning in late June.

Commercial Metals Reports All Time Record Earnings

23 June 2004 - Commercial Metals Co. reported net earnings of $50.9 million on net sales of $1.4 billion for the quarter ended May 31, 2004, earning more this quarter than any complete year in the company's history.

California Steel Extends Expiry for Exchange Offer

22 June 2004 - California Steel Industries, Inc. has extended the expiration date for the exchange offer to exchange its 6 1/8% Senior Notes due 2014 issued on March 22, 2004 ($150,000,000 aggregate principal amount outstanding) for 6 1/8% Senior Notes due 2014. Although the original notes had not been registered under the Securities Act of 1933, the exchange notes are registered under the Securities Act of 1933.

Cleveland-Cliffs Reports Progress in USWA Labor Talks

22 June 2004 - Cleveland-Cliffs Inc. reported that negotiators for the company and the United Steelworkers of America have made progress toward a new, competitive labor agreement but additional bargaining would be required to resolve a number of complex issues.

WHX Focusing on Recapitalization Alternatives

22 June 2004 - WHX Corp. announced that it has retained Jefferies & Co., Inc. to assist it in developing recapitalization alternatives.

ISG Completes Purchase of Georgetown Steel Assets

22 June 2004 - International Steel Group Inc. has completed the acquisition of the assets of the Georgetown Steel Co. facility in Georgetown, S.C., for a purchase price of $18 million in cash, plus assumed liabilities.

GE Commercial Finance Provides Kentucky Electric with New Credit Facility

21 June 2004 - GE Commercial Finance, through its Business Credit unit, announced that it has financed Kentucky Electric Steel, LLC with a three-year, $15 million credit facility

Tetra Tech Relocates Lorain Pellet Terminal

18 June 2004 - Tetra Tech CR Industrial Services Division, Bridgeville, Pa., has relocated the Lorain Pellet Terminal from the mouth of the Black River in Lorain, Ohio, to the Cleveland Bulk Terminal located on Whiskey Island, Cleveland, Ohio.

IAS to Upgrade Steel Warehouse Company Reversing Mill

18 June 2004 - Steel Warehouse Co., Inc. awarded Industrial Automation Services (IAS) an order to design, supply and commission a replacement hydraulic gap control and automatic gauge control system for the company’s single stand reversing mill.

Midrex Announces New CEO

18 June 2004 - Midrex Technologies, Inc. announced that James D. McClaskey has been appointed as the company's new Chief Executive Officer.

AK Steel Secures Financing for Middletown Emission Control Project

18 June 2004 - AK Steel has completed a $62 million industrial revenue bond offering issued through the Ohio Air Quality Development Authority (OAQDA).

Whirlpool and Ispat Inland Reach Agreement

18 June 2004 - Whirlpool Corp. and Ispat Inland Inc. have reached a confidential agreement staying the litigation involving the two companies for 45 days while securing Whirlpool's steel supply and allowing the temporary restraining order against Ispat to be dissolved.

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