Steel News

Allegheny Technologies to Acquire Ladish

18 November 2010 - Allegheny Technologies Inc. (ATI) and Ladish Co., Inc. have entered into a definitive merger agreement whereby ATI will acquire Ladish for an aggregate fully distributed equity value of approximately $778 million. The transaction is expected to be completed in early 2011.

Severstal Reports Q3 2010, Nine-Month Results

17 November 2010 - OAO Severstal announced its financial results for the third quarter and nine months of 2010, including a Q3 net profit of $368 million and the restoration of a dividend payment.

AK Steel Receives Environmental Award from Honda

16 November 2010 - AK Steel has received Honda's Green Factory Environmental Achievement Award in the category of Conservation of Natural Resources. The award recognizes the company’s ongoing environmental restoration efforts at its steel plant in Coshocton, Ohio.

AISI Welcomes Gerdau Ameristeel as Newest Member

12 November 2010 - The American Iron and Steel Institute is welcoming Gerdau Ameristeel - North America’s fourth-largest steel company - as its newest member.

Praxair Technology Helps ArcelorMittal Win AIST Award

11 November 2010 - Praxair, Inc. announced that its Dilute Oxygen Combustion (DOC) technology, installed at ArcelorMittal in Indiana, contributed to the steelmaker receiving the 2010 Energy Achievement Award from the Association for Iron & Steel Technology (AIST).

Severstal Extends Idling of Sparrows Point Mill Operations

10 November 2010 - Severstal North America is extending the idling of its primary and hot mill operations at the company’s Sparrows Point Mill through the first quarter of 2011. Sparrows Point will continue to provide product to a limited number of its cold-roll and coated-products customers.

U. S. Steel Tubular Products Honors 2010 Chief Roughneck Awardee

10 November 2010 - U. S. Steel Tubular Products has named Aubrey K. McClendon, Chairman of the Board and Chief Executive Officer of Chesapeake Energy as the recipient of its Chief Roughneck Award for 2010.

Severstal NA to Increase Flat Rolled Prices

10 November 2010 - Severstal NA announced plans to increase prices immediately by a minimum of $40 per ton for all hot rolled, cold rolled, and galvanized products. The company also is planning to revise pricing for all new orders promised for January 1, 2011 and later.

OSHA Fines Republic Engineered Products

09 November 2010 - The U.S. Department of Labor's Occupational Safety and Health Administration has cited Republic Engineered Products Inc. with one alleged willful, four repeat, and eight serious safety violations for exposing its workers to fall hazards, failing to provide protective equipment, and failing to maintain equipment at its Lorain, Ohio, facility.

Canadian Steelworkers Critical of U.S. Steel Lockout

09 November 2010 - U.S. Steel recently locked out 900 workers at its Hamilton Works facility for refusing “major, unilateral contract concessions,” according to Canadian steelworkers. The cuts include pension changes that also would affect 9000 retired workers receiving pensions.

AK Steel to Increase Carbon Steel Prices

08 November 2010 - AK Steel will increase current spot market base prices for all carbon flat-rolled steel products effective immediately with new orders.

Keystone Reports Third Quarter 2010 Results

05 November 2010 - Keystone Consolidated Industries, Inc. reported net income of $2.3 million, or $0.19 per diluted share, in the third quarter of 2010 as compared to net income of $5.9 million, or $0.48 per diluted share, in the third quarter of 2009.

Cliffs Ranks in Top 100 for Sustainability

03 November 2010 - Cliffs Natural Resources Inc. was named to the Global 1000 Sustainable Performance Leaders, achieving an overall ranking of 97 among other publicly traded global companies. It also ranked fourth among the 64 companies recognized in the Metals and Mining category.

Carpenter Technology Reports First Quarter Results

02 November 2010 - Carpenter Technology Corp. reported net income of $7.6 million, or $0.17 per share, for the quarter ended September 30, 2010. This compares to a net loss of $9.3 million, or negative $0.21 per share, for the same quarter a year ago. Net sales for the first quarter were $351.7 million, up 50% from the prior year.

AK Steel Announces December 2010 Surcharges

02 November 2010 - AK Steel says it will add a $285 per ton surcharge to invoices for electrical steel products shipped in December 2010.

Universal Stainless Announces Resignation of Chief Technology Officer

02 November 2010 - Universal Stainless & Alloy Products announced the resignation of Arthur C. Reardon, the company’s Chief Technology Officer, effective October 29, 2010.

Universal Stainless Reports 2010 Q3 Results

01 November 2010 - Universal Stainless & Alloy Products, Inc. reported $51.9 million in sales for the third quarter of 2010 compared with $25.3 million in the third quarter of 2009 and $51.3 million in the 2010 second quarter. Net income for Q3 was $4.1 million, or $0.60 per diluted share, compared with $0.3 million, or $0.05 per diluted share, for the same period last year.

CMC Reports 4th Quarter, Year-End Results

01 November 2010 - Commercial Metals Co. reported net earnings of $8.0 million on net sales of $1.8 billion for the fourth quarter and a net loss of $205.3 million on net sales of $6.3 billion for the year ended August 31, 2010.

U. S. Steel Appoints Executives in Tubular Products

28 October 2010 - United States Steel Corp. announced several executive appointments in its Tubular Products business, including Douglas R. Matthews, currently Vice President of Tubular Operations, being appointed Senior Vice President – Tubular Operations.

AK Steel Reports Third-Quarter Financial Results

27 October 2010 - AK Steel reported a net loss of $59.2 million, or $0.54 per diluted share of common stock, for the third quarter of 2010, compared to net income of $6.2 million, or $0.06 per diluted share, for the same period a year ago.