Steel News

Cleveland-Cliffs Confirms Results for October 3 Special Shareholders Meeting

13 October 2008 - Cleveland-Cliffs reports that shareholders rejected Harbinger Capital Partners’ control share acquisition proposal during the special shareholders meeting held on Oct. 3, 2008, based on results provided by IVS Associates, the independent Inspector of Elections.

EPA Report Showcases American Steel Industry’s Steep Decline in Emissions

13 October 2008 - A just-released report by the U.S. Environmental Protection Agency recognizes the American steel sector for its 67% decline of total normalized and absolute emissions between 1995 and 2006, despite production increases.

Universal Stainless Reports Bridgeville Labor Agreement, 3Q Guidance Revision

13 October 2008 - Universal Stainless & Alloy Products’ announcement of a new 5-year collective bargaining agreement at its Bridgeville facility is tempered by the concurrent announcement of a downward revision in third quarter earnings guidance.

World Steel Association Sets Target for Data Collection

10 October 2008 - The World Steel Association reports on its success to date on phase 1 of its CO2 emissions data collection program, and sets a stretch target to the end of the year for completion of data collection.

RSI to Supply X-ray Thickness Gauge for Severstal Sparrows Point Hot Mill

10 October 2008 - Radiometric Services & Instruments will supply a complete new X-ray thickness gauging system for Severstal Sparrows Point’s 68-inch hot strip mill.

EPA Settles PCB Violations with Severstal Sparrows Point

09 October 2008 - Severstal Sparrows Point settles an ongoing case involving alleged violations of federal PCB regulations at its Sparrows Point, Md., steelmaking facility.

ALJ Releases 2008 Annual Results

07 October 2008 - ALJ, the parent company of Kentucky Electric Steel, reports record revenues of $185.6 million for the fiscal year ended September 30, 2008.

U.S. Army Stryker Combat Vehicles to Use New ATI Armor Steel

07 October 2008 - Allegheny Technologies’ next-generation ATI 500-MIL armor steel is selected for an armored situational awareness kit on the U.S. Army’s Stryker Light Armored Vehicles.

Cliffs Shareholders Reject Harbinger’s Control Share Acquisition Proposal

06 October 2008 - Cleveland-Cliffs says that it appears that approximately 80% of shares voted by holders other than Harbinger Capital Partners, its equity-swap counter parties or other ‘interested’ shareholders voted AGAINST the proposed control share acquisition during the recent special meeting of shareholders.

AK Steel Announces November 2008 Surcharges for Electrical Steels

03 October 2008 - AK Steel will add a $620 per ton surcharge to invoices for electrical steel products shipped in November 2008.

Allegheny Technologies Announces Operating Management Changes

03 October 2008 - Allegheny Technologies announces several executive-level changes to its organization, changes the company says are designed to simplify and streamline the reporting relationships and leadership of ATI’s key manufacturing operations.

Converteam to Supply Electrical, Automation Systems for ThyssenKrupp’s Alabama Facilities

03 October 2008 - Converteam is selected by Fives Lille Industries and SMS Demag for the supply of the complete electrical and automation systems for ThyssenKrupp's greenfield combined carbon and stainless steel plant to be constructed in Mount Vernon, Ala.

Nippon-Kobe Joint Company to Recycle Steel Dust into DRI

03 October 2008 - Nippon Steel and Kobe Steel will establish a joint company that will recycle steel dust using the FastMet process to produce usable direct-reduced iron.

U. S. Steel, Worthington Complete Deal to Expand Joint Venture

02 October 2008 - United States Steel and Worthington Industries complete their plan to expand and modify their Worthington Specialty Processing joint venture.

Cleveland-Cliffs Announces Convertibility of Preferred Stock

01 October 2008 - Cleveland-Cliffs fulfills the trading price condition for the conversion right of its 3.25% redeemable cumulative convertible perpetual preferred stock, with the result that preferred stock may be surrendered for conversion at any time during the fiscal fourth quarter ending Dec. 31, 2008.

SSAB Named Industrial Company of the Year for Work Environment

01 October 2008 - SSAB is named the industrial company of the year in work environment for its systematic and long-term work-environment efforts in cooperation with the labor unions, and its dedication and to workplace safety and employee health.

Timken Upgrades Third-Quarter, Full-Year Earnings Estimates

01 October 2008 - Timken raises its estimate for third-quarter 2008 earnings per diluted share, excluding special items, to $1.00 to $1.10 based on continued strong global industrial demand, its capacity-expansion initiatives, and declining scrap prices.

Steel Producers Promote Importance of Life-Cycle Approach in Environmental Impact Studies

30 September 2008 - The International Iron and Steel Institute is appealing to governments to work together with the steel industry utilizing life cycle thinking as the most effective holistic approach to assessing a product’s impact on the environment.

Cleveland-Cliffs Signs Three Iron Ore Supply Agreements

29 September 2008 - Cleveland-Cliffs signs three new five-year supply agreements from its North American Iron Ore segment.

ThyssenKrupp Steel Makes Additional Investment in Particulates Reduction

26 September 2008 - ThyssenKrupp Steel invests an additional 30 million euros to equip its sinter plant in Duisburg-Schwelgern with additional filters to capture particulates and dust-containing off-gases.