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The latest news on companies processing and distributing steel products.
Latest News
Metals USA Reports 3rd Quarter Results
25 October 2005 - Metals USA, Inc. announced net income of $11.2 million on net sales revenue of $396.1 million for the three months ended September 30, 2005.
Reliance Steel & Aluminum Reports 3rd Quarter Results
21 October 2005 - Reliance Steel & Aluminum Co. reported net income of $49.4 million on record sales of $870.1 million, and record net income of $144.8 million on record sales of $2.5 billion for the third quarter and nine months ended September 30, 2005, respectively.
Metals USA Stockholders Approve Merger Agreement
20 October 2005 - Metals USA, Inc. stockholders have voted to adopt the merger agreement providing for acquisition of the company by affiliates of Apollo Management, LP.
Atlas Tube to Build Tube Manufacturing Facility in Blytheville
18 October 2005 - Hollow structural sections manufacturer Atlas Tube Inc. has announced plans to build a manufacturing facility in Blytheville.
Steel Technologies Plans New Steel Processing Facility in Mexico
17 October 2005 - Steel Technologies Inc. has signed a formal letter of intent to secure land as part of its plan to construct and operate a new steel processing facility in Juarez, Mexico.
Steel Technologies Amends, Extends Unsecured Credit Facility
13 October 2005 - Steel Technologies Inc. has amended and extended a $135 million Unsecured Revolving Credit Facility with its existing syndicated banking group.
Metals USA Settles Class Action Lawsuit Related to Pending Acquisition
12 October 2005 - Metals USA, Inc. has agreed in principle to resolve a consolidated class action lawsuit brought against it and each of its directors. The class action is a consolidation of two lawsuits related to the pending acquisition of the company by affiliates of Apollo Management, LP.
Metals USA Announces Executive Management Changes
11 October 2005 - Metals USA, Inc. announced that it will appoint Robert C. McPherson III as Senior Vice President and Chief Financial Officer. The new appointment takes effect with closing of the pending acquisition of the company by affiliates of Apollo Management, LP. Mr. McPherson will replace Terry L. Freeman, the company's current Chief Financial Officer, who plans to resign upon completion of the transaction with Apollo to pursue other interests.
Reliance Steel & Aluminum to Enter Chinese Market
11 October 2005 - Reliance Steel & Aluminum Co. has reached an agreement with New Wave Technologies Ltd., a Singapore public company, and its associate, Manufacturing Network Pte. Ltd. (MNPL), based in Singapore, to form a joint venture company, Reliance Pan Pacific, Pte. Ltd.
EMJ Breaks Ground for New Satellite Facility in Quebec City
11 October 2005 - Earle M. Jorgensen Co. announced that it has commenced groundbreaking for its new metals processing and distribution facility in Quebec City.
Ryerson Tull Announces Name Change
04 October 2005 - Ryerson Tull, Inc. has announced plans to change its name to Ryerson, Inc., effective January 1, 2006.
Steel Technologies Downgrades 4th Quarter Outlook
29 September 2005 - Steel Technologies Inc. announced that it expects results for the fourth quarter ending September 30, 2005, to reflect lower-than-anticipated shipments and further margin compression.
New EMJ Spokane Facility Reaches Full Operating Status
01 September 2005 - Earle M. Jorgensen Co. announced that its recently opened Spokane, Wash., facility has reached full operating status.
Maverick Tube President Tenders Resignation
31 August 2005 - Aug. 31, 2005 — Maverick Tube Corp. announced it has accepted the resignation of James Cowan, 47, its President and Chief Operating Officer, effective Tuesday, Aug. 30.
Maverick Tube to Acquire Maverick Canada Exchangeable Shares
16 August 2005 - Maverick Tube Corp. and its Canadian subsidiary, Maverick Tube (Canada) Inc., announced that the board of directors of Maverick Canada has selected September 30, 2005 as the Automatic Redemption Date for the exchangeable shares of Maverick Canada.
EMJ Reports 1st Quarter Fiscal 2006 Results
04 August 2005 - Earle M. Jorgensen Co. (EMJ) reported net income of $22.6 million on revenues of $444.0 million for the first fiscal quarter ended June 29, 2005.
Olympic Steel Reports 2nd Quarter Results
29 July 2005 - Olympic Steel, Inc., announced net income of $3.0 million on net sales of $241.5 million for the second quarter and net income of $12.6 million on net sales of $526.0 million for the six months ended June 30, 2005.
Ryerson Tull Reports 2nd Quarter Earnings
29 July 2005 - Ryerson Tull, Inc. reported net income of $26.6 million on sales of $1.5 billion for the second quarter ended June 30, 2005.
Metals USA Reports 2nd Quarter Results
27 July 2005 - Metals USA, Inc. announced net income of $14.3 million on net sales of $426.8 million for the three months ended June 30, 2005.
Maverick Tube Reports 2nd Quarter Results
26 July 2005 - Maverick Tube Corp. announced net income of $38.7 million on net sales of $404.4 million for the quarter ended June 30, 2005.
