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The latest news on companies processing and distributing steel products.
Latest News
First Quarter Outlook Strong for Steel Technologies
05 January 2005 - Steel Technologies Inc. expects results for the first fiscal quarter to reflect continued substantial increases in volume and sales through its operations.
Ryerson Tull Completes Acquisition of Integris Metals
05 January 2005 - Ryerson Tull, Inc. has completed its acquisition of Integris Metals, Inc., from its shareholders, Alcoa Inc. and BHP Billiton. Ryerson Tull purchased all of the equity interest in Integris for $410 million plus assumption of approximately $234 million of Integris' debt.
Ryerson Tull Anticipates Closing of Integris Metals Acquisition
29 December 2004 - Ryerson Tull, Inc. announced that it has received early termination of all waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act with respect to its acquisition of Integris Metals, Inc. The company’s waiting period for the acquisition under the Competition Act (Canada) has also expired.
EMJ Announces Financial Restructuring
22 December 2004 - The Earle M. Jorgensen Co. announced further developments in connection with the proposed merger and financial restructuring of EMJ and its parent, Earle M. Jorgensen Holding Co. Inc.
Maverick Tube Selects Location for New Republic Conduit Facility
17 December 2004 - Maverick Tube Corp. announced that it will locate its new, state-of-the-art Republic Conduit facility in Louisville, Ky., pending receipt of applicable permits.
Ryerson Tull Completes Sale of Senior Notes
14 December 2004 - Ryerson Tull, Inc. has completed its previously announced offering of $150 million aggregate principal amount of 8¼% senior notes due 2011.
Gibraltar Industries Names President and Chief Operating Officer
03 December 2004 - Gibraltar announced that Henning Kornbrekke, the company's President, has been promoted and named President and Chief Operating Officer, effective immediately.
Maverick Tube Commences Exchange Offer
02 December 2004 - Maverick Tube Corp. has filed a registration statement on Form S-4 with the Securities and Exchange Commission to register its offer to exchange $120 million principal amount of its 2004 4.00% convertible senior subordinated notes due 2033 for an equal amount of its currently outstanding 4.00% convertible senior subordinated notes due 2033. Maverick will pay an exchange fee of $2.50 for each $1,000 principal amount of Old Notes accepted for exchange and provide public acquirer change-of-control provisions.
Ryerson Tull Announces Proposed Private Offering
28 November 2004 - Ryerson Tull, Inc. announced that it intends to privately offer, subject to market conditions and other factors, $150 million aggregate principal amount of senior notes due 2011.
Ryerson Tull Announces Exercise of Option on Senior Notes
24 November 2004 - Initial purchasers have exercised the $30 million option granted to them in connection with Ryerson Tull Inc.'s offering of 3.50% Convertible Senior Notes due 2024, bringing the total aggregate principal amount of notes sold to $175 million. The offering closed on November 10, 2004.
Ryerson Tull Announces Pricing of Senior Notes
05 November 2004 - Ryerson Tull, Inc. announced pricing of its Rule 144A private offering of $145 million aggregate principal amount of Convertible Senior Notes due 2024. Closing of the offering is expected to take place on November 10, 2004, subject to customary closing conditions. Initial purchasers will have the option to purchase up to an additional $30 million aggregate principal amount of notes.
Ryerson Tull Announces Proposed Private Offering of Senior Notes
04 November 2004 - Ryerson Tull, Inc. announced that it intends to privately offer, subject to market conditions and other factors, $125 million aggregate principal amount of convertible senior notes due 2024. The company intends to grant to the initial purchasers an option to purchase an additional $25 million aggregate principal amount of the notes within 30 days after the offering.
EMJ Reports Strong 2nd Quarter Results
02 November 2004 - Earle M. Jorgensen Co. (EMJ) reported net income of $26.7 million on sales of $389.3 million for the second fiscal quarter, and net income of #48.6 million on revenues of $750.9 million for the first six months ended September 29, 2004.
Gibraltar Steel Changes Name to Gibraltar Industries
28 October 2004 - Gibraltar’s stockholders have approved a proposal to change the name of the corporation to Gibraltar Industries, Inc. from Gibraltar Steel Corp., effective immediately. Gibraltar will retain its existing Nasdaq stock symbol, ROCK.
Gibraltar Reports 3rd Quarter Results
28 October 2004 - Gibraltar reported net income of $16.2 million on sales of $279 million for the third quarter, and net income of $41.0 million on sales of $748 million in the first nine months of 2004.
Ryerson Tull to Acquire Integris Metals
28 October 2004 - Ryerson Tull, Inc. has signed a definitive agreement to purchase Integris Metals, Inc., a joint venture between Alcoa Inc. and BHP Billiton.
Steel Technologies Completes Private Placement
27 October 2004 - Steel Technologies Inc. has successfully issued $50 million of unsecured Senior Notes through a private placement arranged by SunTrust Robinson Humphrey.
Reliance Steel & Aluminum Reports Record 3rd Quarter Results
22 October 2004 - Reliance Steel & Aluminum Co. reported net income of $44.1 million on record quarterly sales of $783.7 million for the third quarter and record net income of $126.8 million on record sales of record $2.2 billion for the nine months ended September 30, 2004.
Ryerson Tull Reports 3rd Quarter Results
22 October 2004 - Ryerson Tull, Inc. reported a net profit of $17.4 million on net sales of $898.7 million for the third quarter of 2004.
Metals USA Reports 3rd Quarter Profits
21 October 2004 - Metals USA, Inc. announced net income of $31.8 million on net sales of $412.6 million for the third quarter and net income of $84.0 million on net sales of over $1.1 billion for the nine months ended September 30, 2004.
