10 March 2005 - Ispat Inland Inc. affiliate Ispat Inland ULC has increased the consent payment it will make to the holders of its Senior Secured Floating Rate Notes due 2010 and 9.75% Senior Secured Notes due 2014 that validly deliver (and not revoke) consents to $5.00 for each $1,000 principal amount of Notes held by such holders.

Cleveland-Cliffs Extends Portman Offer

10 March 2005 - Cleveland-Cliffs Inc. has extended its offer for all of the shares in Portman Limited for four days.

Esmark Acquires U.S. Metals and Supply

10 March 2005 - Esmark Inc. announced its acquisition of U.S. Metals and Supply Co. for $16 million.

Former Ivaco Directors Resign

09 March 2005 - Ernst & Young Inc., court-appointed Monitor of Ivaco Inc. and certain of its affiliates announced that all of the directors have advised the Monitor of their resignation.

Stelco Offers Operating Earnings Estimate

09 March 2005 - Stelco Inc. has issued preliminary unaudited operating results for the fourth quarter and year 2004, as well as commentary on estimated 2005 results. The company cautions that the estimates are unaudited and do not include possible adjustments to operating earnings that may be required as a result of the capital raising and sales process, the claims reconciliation process or other matters that may arise prior to finalization of Stelco's 2004 financial statements.

Timken to Sponsor Engineer of the Year Award

08 March 2005 - The Timken Co. announced it will sponsor Design News' "Engineer of the Year" award.

Bayou Steel Reports 1st Quarter Results

08 March 2005 - Bayou Steel Corp. reported net income of $4.2 million on sales of $63.1 million for the fiscal first quarter ended December 31, 2004.

Roanoke Electric Steel Reports Record 1st Quarter Results

08 March 2005 - Roanoke Electric Steel Corp. reported record first quarter net earnings of $9,185,874 on sales of $131,309,983 for the period ended January 31, 2005.

Morgan Commissions Sterling Steel Rod Mill Upgrade

08 March 2005 - Morgan Construction Co. has installed and commissioned a major upgrade for the Sterling Steel Co., LLC single-strand rod mill in Sterling, Ill.

Ispat Inland Accelerates Maintenance Outages

08 March 2005 - Ispat Inland Inc. is moving up the maintenance outage for No. 6 Blast Furnace at its Indiana Harbor Works in East Chicago. The blast furnace, which typically produces iron at the rate of 2,500 tons a day, has been blown down and cooled so it can be gunned with additional refractory material to extend the life of its refractory lining.

WCI Steel Implements Alloy Surcharge

04 March 2005 - WCI Steel, Inc. has begun implementation of a content-based alloy surcharge.

Ispat Inland Increases Consent Offer

04 March 2005 - Ispat Inland ULC has increased the consent payment it will make to holders of its Senior Secured Floating Rate Notes due 2010 and 9.75% Senior Secured Notes due 2014 that validly deliver (and not revoke) consents to $2.50 for each $1,000 principal amount of Notes held by such holders.

Steelworkers Applaud Reassurance on Sale of Stelco Subsidiaries

04 March 2005 - The United Steelworkers is pleased with Stelco Inc.'s agreement to not proceed with the sale of one or more of its subsidiaries, whose hourly employees are represented by the union.

Stelco Court Monitor Files 20th Report

03 March 2005 - Stelco Inc.’s court-appointed Monitor has filed its twentieth Report regarding the company's Court-supervised restructuring. The Report provides an update on the capital raising process, in particular the review process and results for Phase II of the process.

WCI Steel Announces Vice President and CFO

02 March 2005 - WCI Steel, Inc. announced that Thomas J. Gentile has been named Vice President and Chief Financial Officer, effective immediately.

Cliffs Tender Offer for Portman Limited is Final

02 March 2005 - Cleveland-Cliffs has declared that its increased offer under the takeover bid for Portman Limited is final and the offer price will not be further increased. The increase, announced on February 25, 2005, had raised the offer price from A$3.40 to A$3.85 cash for each Portman share. Under Australian law this declaration means that Cleveland-Cliffs will not be able to further increase its offer price under any circumstances.

Steelworkers Pledge Conditional Support for Stelco Restructuring

02 March 2005 - The United Steelworkers said that it is prepared to work with Stelco Inc. to develop a plan based on full adherence to the union's seven principles for restructuring and on new labor agreements for Locals 8782 (Lake Erie), 5220 (AltaSteel) and 5328 (Stelwire), that allows Stelco to successfully emerge from bankruptcy protection under the Companies' Creditors Arrangement Act (CCAA).

Stelco Offers Miss the Mark

02 March 2005 - Stelco Inc.’s Board of Directors has determined that none of the proposals received satisfy its requirements for being designated as a prevailing offer under the order of the Ontario Superior Court of Justice. As a result, the Board will pursue new refinancing alternatives for the integrated steel business as part of its capital raising process.

AK Steel Announces Vice President of Labor Relations

01 March 2005 - AK Steel announced that Thomas F. McKenna, 59, has joined the company as Vice President—Labor Relations. In this role, Mr. McKenna will be responsible for the company's labor relations functions and its union-management relationships.

Page 477 of 521

View Latest Steel News