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North America

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

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ISG to Establish Trust Fund Covering Bethlehem Environmental Liabilities

18 June 2004 - International Steel Group Inc. has reached an agreement with the Commonwealth of Pennsylvania and its Department of Environmental Protection (DEP) to create a $19.9 million trust fund, which will be funded over the next several years to finance continual treatment of polluted mine pool discharges in Cambria, Somerset and Butler counties in Pennsylvania.

Castrip Achieves 100,000 Ton Milestone at Crawfordsville

18 June 2004 - The first commercial installation utilizing the Castrip(r) Process at Nucor’s Crawfordsville, Ind., plant has surpassed the 100,000 ton cumulative production milestone.

New EPA Report Profiles Environmental Performance in Iron and Steel Industry

17 June 2004 - The EPA has released a new report that establishes a performance baseline for tracking future environmental progress in a number of key industrial and service sectors.

Year-to-Date Steel Shipments Continue to Rise Above 2003 Levels

17 June 2004 - U.S. steel mills shipped 9,143,000 net tons in April 2004, according to the latest data released by the American Iron and Steel Institute (AISI). The April shipments represent a 3.4% increase from the 8,845,000 net tons shipped in April 2003, and a 9.0% decrease from the 10,042,000 net tons shipped in the previous month, March 2004.

Russel Metals Adjusts 2nd Quarter Earnings Outlook

16 June 2004 - Russel Metals Inc. announced it expects second quarter earnings per share to be in the range of $0.85 to $1.00 per share, significantly exceeding previously provided earnings per share guidance of $0.50 to $0.65 per share.

Ipsco Adjusts 2nd Quarter Earnings Outlook

16 June 2004 - Ipsco Inc. announced its second quarter earnings will exceed the $0.75 per share consensus analyst estimate by more than 45%, and expects earnings will meet or exceed $1.10 per diluted share.

Nucor Adjusts 2nd Quarter Earnings Outlook

16 June 2004 - Bouyed by increased margins, strengthening demand and turnarounds at its newest facilities, Nucor Corp. has announced increased earnings expectations for its second quarter ending July 3, 2004.

Specialty Steel Consumption Continues Upward Trend in March

16 June 2004 - Specialty steel consumption in the U.S. has started to sustain an upward trend, according to first quarter data released by the Specialty Steel Industry of North America (SSINA).

OSHA Cites Steel Fabricator for Safety and Health Hazards

16 June 2004 - The U.S. Labor Department's Occupational Safety and Health Administration (OSHA) has cited Irby Steel for exposing workers to serious safety and health violations at the company's Gulfport steel fabricating plant. The agency is proposing $113,750 in penalties.

Timken and Union Begin Discussions over Announced Plant Closures

16 June 2004 - The Timken Co. and United Steelworkers union met earlier this week to begin the effects bargaining process involving the Canton bearing plants. The parties also agreed to explore the possibility of opening formal negotiations for the current labor contract over the next few weeks.

Bricmont to Supply Reheat Furnace for Nucor Kankakee

16 June 2004 - Nucor Steel recently awarded a multimillion dollar contract to Bricmont, Inc. for a new pusher reheat furnace.

Maverick Tube to Consolidate Republic Conduit Operations

15 June 2004 - Maverick Tube Corp. announced plans to consolidate the Republic Conduit operations into a state-of-the-art facility located in the Midwestern United States.

Dietrich Metal Framing Explores Joint Venture with Encore Coils

15 June 2004 - Dietrich Metal Framing announced that it is in discussions with Encore Coils about the possibility of forming a Canadian metal framing joint venture.

AK Steel and UAW Reach Agreement at Rockport Works

15 June 2004 - AK Steel Corp. announced that members of the United Autoworkers of America (UAW) have voted to accept a progressive three-year labor agreement covering about 160 hourly employees at the company's Rockport, Ind., Works.

WL Ross Group Wins Preferred Bidder Status for Horizon Natural Resources

14 June 2004 - The WL Ross led group of holders of a majority of Horizon Natural Resources' second lien notes has been designated the preferred bidder for the company’s assets following their recent bid increase to $277,350,000 from $240,000,000.

Stelco Provides Restructuring Update

14 June 2004 - Ernst & Young Inc. has released the Fifth Report of the Monitor on Stelco Inc.'s Court-supervised restructuring under the Companies' Creditors Arrangement Act (CCAA). The report highlights several recent developments, including the lack of progress in stakeholder discussions, and recent court motions by General Motors and Stelco.

CMC Announces Extension of Exchange Offer

11 June 2004 - Commercial Metals Co. announced that its offer to exchange all of its outstanding 5.625% Senior Notes due 2013 for its registered 5.625% Senior Notes due 2013 will expire at 5:00 p.m., Eastern time, on July 7, 2004.

Allegheny Technologies Declares Quarterly Dividend

11 June 2004 - Allegheny Technologies Inc. (ATI) announced that its Board of Directors declared a quarterly dividend of $0.06 per share of common stock. The dividend is payable June 29, 2004, to stockholders of record at the close of business June 21, 2004.

Severstal North America Ramping up Program for IF Steel Products

11 June 2004 - Severstal North America will receive its first lot of hot rolled coils of IF (interstitial free) steel from JSC Severstal as part of the company’s efforts to develop, commercialize and expand its IF steel deliveries to domestic and foreign markets, according to V.V. Rahuba, Project Manager.

Order in Hand, Northwest Pipe Updates 2nd-Quarter Outlook

11 June 2004 - Northwest Pipe Co. has received a letter of intent from PCL Civil Constructors, Inc. of Tempe, Ariz., for approximately $14 million of welded steel pipe for the Lake Pleasant Waterline, a project for the City of Phoenix.

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