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The latest news on companies processing and distributing steel products.
Latest News
EMJ Closes Merger
22 April 2005 - Earle M. Jorgensen Co. has closed its merger and financial restructuring pursuant to which EMJ's parent, Earle M. Jorgensen Holding Co. Inc., was merged with and into a wholly owned subsidiary of EMJ. As a result of the merger and financial restructuring, all outstanding Earle M. Jorgensen Holding notes were exchanged for 12,997,890 shares of EMJ common stock and approximately $127,100,000 in cash. Stockholders of Earle M. Jorgensen Holding are entitled to receive:
Reliance Reports Strong 1st Quarter Results on Record Sales
22 April 2005 - Reliance Steel & Aluminum Co. reported net income of $46.4 million on record sales of $811.9 million for the first quarter ended March 31, 2005.
Steel Technologies Reports Record Quarterly Sales and Net Income
20 April 2005 - Steel Technologies Inc. reported net income of $15.4 million on record sales of $287.0 million for the second fiscal quarter of 2005 ended March 31, 2005.
EMJ Merger Approved by Stockholders
18 April 2005 - Earle M. Jorgensen Co. (EMJ) announced that stockholders of its parent, Earle M. Jorgensen Holding Co., Inc., approved a merger and financial restructuring pursuant to which Earle M. Jorgensen Holding will be merged with and into a wholly-owned subsidiary of EMJ. As a result of the merger and financial restructuring, all outstanding Earle M. Jorgensen Holding notes will be exchanged for 12,997,891 shares of EMJ common stock and $127,100,000. Stockholders of Earle M. Jorgensen Holding will receive:
Olympic Steel Announces Humanitarian Award Recipients
14 April 2005 - Michael D. Siegal, Chairman and CEO of Olympic Steel, Inc. announced that Dwight Crumpton and Cindy Jones are this year's recipients of the company's Chairman's Humanitarian Award. The award recognizes employees for extraordinary contributions to the community or special initiative, resourcefulness and courage in an emergency situation on or off the job.
Reliance Steel and Aluminum Updates Earnings Outlook
06 April 2005 - Reliance Steel & Aluminum Co. is updating its guidance regarding earnings estimates for the first quarter ended March 31, 2005.
Gibraltar Announces New $250 Million Credit Facility
05 April 2005 - Gibraltar entered into a five-year $250-million revolving credit facility as of April 1. The facility, which includes a $50-million expansion feature, replaces the company's existing credit facility. The banking syndication with nine banks was led by KeyBank.
Steel Technologies Anticipates Record Q2 Sales and Earnings
23 March 2005 - Steel Technologies Inc. expects its results for the second fiscal quarter to reflect continued significant increases in sales throughout its operations.
EMJ Announces Third Amended and Restated Credit Agreement
09 March 2005 - Earle M. Jorgensen Co. has entered into a Third Amended and Restated Credit Agreement, with Earle M. Jorgensen Holding Co., Inc., related financial institutions, and Deutsche Bank Trust Co. Americas, acting as agent.
Olympic Steel Announces Management Changes
24 February 2005 - David A. Wolfort, President & Chief Operating Officer of Olympic Steel, Inc. announced that Jerry Gea, Regional Vice President of the Eastern Region will retire effective March 1.
Olympic Steel Reports Record Results for 2004
23 February 2005 - Olympic Steel, Inc. announced record net income of $12.2 million on record sales of $240.2 million for the fourth quarter and record net income of $60.1 million on record net sales of $894.2 million for the year ended December 31, 2004.
Metals USA Reports Record Earnings for 2004
23 February 2005 - Metals USA Inc. announced record net income of $20.5 million on net sales of $394.4 million for the fourth quarter, and net income of $104.5 million on net sales of $1.51 billion for the full year ended Dec. 31, 2004.
Reliance Reports Best-Ever Fiscal Year Financial Results
18 February 2005 - Reliance Steel & Aluminum Co. reported net income of $43.0 million on sales of $742.8 million for the fourth quarter and record net income of $169.7 million on record sales of $2.94 billion for the fiscal year ended December 31, 2004.
Gibraltar Reports Record Sales and Net Income for 2004
15 February 2005 - Gibraltar Industries, Inc. reported net income of $9.8 million on net sales of $266.4 million for the quarter and net income of $50.8 million on net sales of $1 billion for the 12 months ended December 31, 2004 — record quarterly and full-year sales and earnings for the company.
Maverick Tube Reports Record Year End Results
10 February 2005 - Maverick Tube Corp. announced net income of $38.5 million on net sales of $396.2 million for the quarter and net income of $193.8 million on net sales of $1.456 billion for the year ended December 31, 2004.
EMJ Reports 3rd Quarter Results
31 January 2005 - Earle M. Jorgensen Co. (EMJ) reported net income of $4.3 million on revenues of $401.7 million for the third fiscal quarter ended December 31, 2004.
Ryerson Tull Reports Year-End Income
31 January 2005 - Ryerson Tull, Inc. reported net income of $3.8 million on net sales of $904 million for the fourth quarter and net income of $54.5 million on net sales of $3302 million for the year ended December 31, 2004.
Steel Technologies Reports Record 1st Quarter Results
25 January 2005 - Steel Technologies Inc. reported record net income of $14.5 million on record sales of $254.0 million for the first fiscal quarter of 2005 ended December 31, 2004.
Maverick Tube Realigns Finance Department
17 January 2005 - Maverick Tube Corp. announced realignment of its Finance Department. As part of the realignment, Pamela G. Boone, 41, the company's current Vice President and Chief Financial Officer, will take the position of Vice President and Treasurer. Kevin J. Schnurbusch, 34, the company's Corporate Controller, will take the position of Chief Accounting Officer.
Maverick Tube Announces New Officer Appointments
05 January 2005 - Maverick Tube Corp.’s Board of Directors has elected C. Robert Bunch, currently the company's President and Acting CEO, as Chairman. Mr. Bunch, who will remain Acting CEO, replaces Gregg Eisenberg, whose retirement as Chairman was previously announced.
