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Service Centers
The latest news on companies processing and distributing steel products.
Latest News
Steel Technologies Reports 3rd Quarter Results
20 July 2005 - Steel Technologies Inc. reported net income of $5.7 million on sales of $256.4 million for the third quarter, and record net income of $35.5 million on record sales of $797.4 million for the nine months ended June 30, 2005.
Metals USA Announces Leadership Changes for Plates & Shapes Group
11 July 2005 - Metals USA, Inc. announced that Bill Bennett has resigned as Senior Vice President of the company and as President of the Plates & Shapes Group.
Gibraltar Starts up Axis ERP Solution at Cleveland Strip Facility
08 July 2005 - Axis Computer Systems, Inc. announced the successful startup of the Axiom(R) Enterprise Resource Management System at the Gibraltar Industries strip steel manufacturing facility in Cleveland, Ohio.
Reliance Steel & Aluminum Completes Chapel Steel Acquisition
06 July 2005 - Reliance Steel & Aluminum Co. has completed its previously disclosed acquisition of Chapel Steel Corp., headquartered in Spring House (Philadelphia), Pa.
Maverick Tube Completes HSS Sale
05 July 2005 - Maverick Tube Corp. announced the successful completion of its previously announced sale of certain assets of its hollow structural sections (HSS) product line to Atlas Tube.
Steelworkers Ratify Agreement with B & T Steel
29 June 2005 - Members of the United Steelworkers' Local 8925 have ratified a new, three-year agreement with B & T Steel, a division of Russel Metals Inc.
Maverick Tube Comments on Second Quarter Operating Results
24 June 2005 - Maverick Tube Corp. anticipates earnings for the second quarter in the range of $0.58 and $0.63 per share, exclusive of any impact from the previously announced sale of the company's industrial hollow structural sections (HSS) business.
Steel Technologies Discusses 3rd Quarter Outlook
24 June 2005 - Steel Technologies Inc. expects results for the third fiscal quarter to reflect lower-than-anticipated shipments and further margin compression.
Reliance Steel & Aluminum Announces New Credit Facility
15 June 2005 - Reliance Steel & Aluminum Co. has entered into a $600 million, five-year, unsecured revolving credit facility that replaces the company's previous $335 million credit facility.
Maverick Tube Completes Acquisition of Columbian Tube Facilities
02 June 2005 - Maverick Tube Corp. announced the successful completion of its acquisitions of Tubos del Caribe SA, substantially all of the equity interests in Consorcio Metalurgico Nacional SA, and Advance Corp. on Friday May 27, 2005.
Reliance Steel & Aluminum to Acquire Chapel Steel
02 June 2005 - Reliance Steel & Aluminum Co. has reached an agreement to acquire Chapel Steel Corp., headquartered in Spring House, Pa. Terms of the deal were not disclosed.
EMJ Reports Fourth Quarter and Fiscal 2005 Results
26 May 2005 - Earle M. Jorgensen Co. (EMJ) reported net income of $59.4 million on revenues of revenues of $456.3 million for the fourth fiscal quarter and net income of $97.5 million on revenues of $1,608.9 million for the twelve months ended March 31, 2005.
Maverick Tube to Acquire Columbian Steel Tubemakers
24 May 2005 - Maverick Tube Corp. has entered into a definitive agreement to acquire Tubos del Caribe SA, a Colombian manufacturer of oil country tubular goods (OCTG) and line pipe; substantially all of the equity interests in Consorcio Metalurgico Nacional SA, a Colombian manufacturer of steel electrical conduit and other pipe and tube products used in a variety of industrial applications; and Advance Corp., a Houston, Texas, based distributor of OCTG and electrical conduit.
Maverick Tube Announces Appointment of CEO and CFO
20 May 2005 - Maverick Tube Corp.’s Board of Directors has named C. Robert Bunch, the company's Chairman, as Chief Executive Officer. The Board also appointed Joyce M. Schuldt, currently the company's Vice President—Legal and Tax and Secretary, as Senior Vice President-Finance, Chief Financial Officer and Secretary. Both appointments are effective May 18, 2005.
Maverick Tube to Expand Coiled Tubing Capacity by 50%
13 May 2005 - Maverick Tube Corp. has begun work on a $12 million project to expand the capacity of its Precision Tube coiled tubing facility by more than 50%. The Precision Tube Houston, Texas, facility expansion is expected to be completed in the first quarter of 2006.
Maverick Tube Announces Sale of Hollow Structural Sections Assets
12 May 2005 - Maverick Tube Corp. has executed a letter of intent regarding the sale of specific assets associated with its hollow structural sections (HSS) product line to Atlas Tube Inc. The letter of intent anticipates the purchase by Atlas of Maverick's HSS inventory and customer lists in the U.S. and Canada for a cash payment payable at closing.
Russel Metals Sells Lachine Facility
10 May 2005 - Russel Metals Inc. announced the sale of its previously closed Lachine, Que., distribution center. The Lachine facility had become redundant with Russel’s acquisition of Acier Leroux.
EMJ Elects Andrew Sharkey to Board
06 May 2005 - Earle M. Jorgensen Co.’s board of directors elected Andrew G. Sharkey III to serve as a director of Earle M. Jorgensen Co. (EMJ) until the next annual meeting of stockholders. Sharkey will also serve as a member of the board’s Compensation Committee and the Nominating and Corporate Governance Committee.
Ryerson Tull Reports 1st Quarter Income
03 May 2005 - Ryerson Tull, Inc. reported net income of $35.4 million on sales of $1.5 billion for the first quarter ended March 31, 2005.
Metals USA Reports Record 1st Quarter Revenues
26 April 2005 - Metals USA, Inc. announced net income of $17.3 million on net sales of $427.6 million for its first quarter ended March 31, 2005.
