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North America

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

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Novamerican Reports Record Annual Profit

07 January 2004 - Novamerican Steel Inc. reported net income of $23.7 million on sales of $215.2 million for the fourth quarter, and net income of $72.9 million on sales of $768.6 million for the fiscal year ended November 27, 2004. This was the 28th consecutive profitable quarter for the Company. It also reported a record annual profit for fiscal 2004. (All amounts are in U.S. dollars).

Schnitzer Steel Reports Record Quarterly Earnings

06 January 2004 - Schnitzer Steel Industries, Inc. reported record net income of $42.9 million on revenues of $199.0 million for its fiscal 2005 first quarter that ended November 30, 2004.

Ispat Inland to Cut Salaried Workforce

06 January 2004 - Ispat Inland Inc. is taking further steps to ensure its competitiveness by reducing its salaried workforce.

Esmark Completes Acquisition of Century Steel

05 January 2004 - Esmark, Inc. has completed its purchase of the assets of Century Steel LLC for $40 million in cash.

Grupo Imsa Expands Steel Painting Capacity

04 January 2004 - Grupo Imsa has acquired the assets of Polymer Coil Coaters, an industrial continuous steel painting line in Fairfield, Ala., for US$29 million. Grupo Imsa executed the purchase from Magnatrax Corp. through Imsa Acero.

Courtney Pratt Assumes Stelco Presidency

02 January 2004 - Stelco Inc. announced today that Mr. Courtney Pratt has assumed his responsibilities as President and Chief Executive Officer. In November 2003, Mr. Pratt was appointed President and Chief Executive Officer effective January 1, 2004.

Despite Volume Increases, Ohio Steelmakers Struggle with Supply Costs

02 January 2004 - Leading indicators for Ohio's steel industry are up through the first nine months of 2003, but high steelmaking supply costs are undermining earnings.

USS Reports on Pension Fund Contribution and Other Business Matters

02 January 2004 - United States Steel Corp. announced that in late December it completed the voluntary contribution of timber cutting rights, which were valued at $59 million by an independent appraisal, to its defined benefit pension plan. As a result, the company will record a pre-tax gain of approximately $55 million in the fourth quarter of 2003 to reflect the excess of the fair value of the contributed assets over their net book value. In addition, U. S. Steel voluntarily contributed $16 million in cash to its defined benefit pension plan, bringing total 2003 contributions to $75 million.

Allegheny Technologies Announces 4th Quarter Results

21 January 2003 - Allegheny Technologies Inc. reported a net loss of $210.2 million on sales of $484.4 million for the fourth quarter ended December 31, 2003.

The Jordan Company Completes Acquisition of The Techs

15 January 2003 - The Jordan Co., L.P. has completed its acquisition of the assets of The Techs (a Pennsylvania limited partnership) for an undisclosed consideration.

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