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Producers
The latest news on the companies producing steel or raw materials used in the iron- and steelmaking process.
Latest News
Quanex Raises Cash Dividend, Declares 3-for-2 Stock Split
03 December 2004 - Quanex Corp. announced that its Board of Directors raised the company's common stock cash dividend by 6.5%, or $0.05 per share on an annualized basis. In a separate action, the Board declared a three-for-two stock split in the form of a 50% stock dividend.
TXI Chaparral Completes Automation System Upgrade at Virginia Plant
03 December 2004 - TXI Chaparral Steel recently completed an upgrade of the automation system at its Virginia facility.
Stelco Director Resigns from Board
02 December 2004 - Stelco Inc. announced that Peter Dey has resigned from the Board of Directors in order to avoid any perception of conflict of interest between his role as a Director and his affiliation with Osler, Hoskin & Harcourt LLP.
Ispat Inland Announces Partial Redemption of Notes
01 December 2004 - Ispat Inland ULC has issued a notice of redemption for $227,500,000 principal amount of its outstanding 9-3/4% Senior Secured Notes due 2014, at a redemption price equal to 109-3/4% of the outstanding principal amount being redeemed, plus accrued and unpaid interest on such amount to, but excluding, December 30, 2004. Notes will be redeemed on December 30, 2004.
Steel Imports Significantly Ahead of 2003, Despite Recent Dip
01 December 2004 - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported October imports of steel into the United States declined 11.7% compared to September, with finished steel imports 9.2%% lower than in September. Year-to-date imports are 50.2% higher than 2003, with finished steel imports 49.7% higher than in 2003. The gain of nearly 50% in finished steel imports is more than three times the 14.4% increase in steel consumption. As a result, the finished steel market share in this period has risen from 15.9 to 20.5%.
SMS Demag Completes Revamp of Industeel Slab Caster
01 December 2004 - SMS Demag AG, Germany, has successfully completed its revamp of the single-strand continuous slab caster at Industeel (formerly Fabrique de Fer), Charleroi/Belgium. Industeel, part of the Arcelor Group, has put the revamped plant into operation and has issued acceptance.
Posco Fosters Increasing Innovation through Six Sigma Training
01 December 2004 - Posco executives recently completed their Six Sigma leadership education program. Armed with new knowledge and skills from their training, Posco executives hope to create innovative activities that will increase the company’s value and improve the overall working environment.
Contract Growth Continues for VAI
01 December 2004 - Voest-Alpine Industrieanlagenbau (VAI) has logged new orders from Asia, Russia and Western Europe with a total value of around EUR 100 million, raising company order intake at the end of November 2004 by more than 50% compared to the same period of last year.
Posco Provides Cash Relief to Smaller, Struggling Companies
01 December 2004 - Posco is taking the initiative to provide relief to financially ailing small and medium-size enterprises (SME). Since it is these types of companies that suffer the most during economic recessions, such as the one now plaguing South Korea, Posco has decided to pay them for goods and services provided entirely in cash.
ThyssenKrupp Nirosta to Increase Capacity at Ebor Stainless Facility
01 December 2004 - Ebor Edelstahl GmbH, Germany, a subsidiary of ThyssenKrupp Nirosta GmbH, will expand capacity with a new 2,800 square meter shop complex, as well as office and social facilities, in the Holderbüschle industrial park close to its existing buildings.
ThyssenKrupp Steel and CVRD Plan Joint Steel Mill Project
01 December 2004 - The Supervisory Board of ThyssenKrupp Steel AG recently approved plans to conclude a joint feasibility study with Brazilian iron ore producer Companhia Vale do Rio Doce (CVRD) on the construction of a steel mill in Brazil. This procedure has also been approved by the Supervisory Boards of ThyssenKrupp AG and ThyssenKrupp Stahl AG.
Timken Latrobe to Increase High-speed Steel Prices
30 November 2004 - Timken Latrobe Steel announced it would increase prices by 5% on all high speed steel products.
Court Approves Deutsche Bank Proposal as Stalking Horse Bid
30 November 2004 - The Superior Court of Justice (Ontario) has approved the Deutsche Bank commitment as the stalking horse in Stelco Inc.’s capital raising process. The Court also approved amendments to the process itself that were proposed by the company.
Dofasco Files Short Form Prospectus
29 November 2004 - Dofasco Inc. has filed a final short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada.
Republic Announces Plans for New Caster at Canton Plant
29 November 2004 - Republic Engineered Products Inc. announced plans for an approximately $50 million investment that includes a second continuous caster at its Canton plant.
Stelco Court Monitor Files Second Supplemental 11th Report
29 November 2004 - Stelco Inc.’s court-appointed Monitor has filed a Second Supplemental Eleventh Report regarding the company's Court-supervised restructuring. The Report provides an update on the amended Deutsche Bank commitment letter announced by Stelco, including the Monitor's views regarding the commitment.
Wheeling-Pittsburgh Makes First Heat from Continuous EAF
29 November 2004 - Wheeling-Pittsburgh Steel Corp. completed the first heat in its continuous electric arc furnace (EAF) at approximately 11:50 a.m., Sunday, Nov. 28, less than 16 months after the project was authorized. The EAF is located at the company's Mingo Junction, Ohio, Plant.
Republic Announces Plans for New Caster at Canton Plant
29 November 2004 - Republic Engineered Products Inc. announced plans for an approximately $50 million investment that includes a second continuous caster at its Canton plant.
Registration Statement Filed for Republic IPO
28 November 2004 - PAV Republic, Inc., the parent company of Republic Engineered Products, Inc., has filed a registration statement with the SEC regarding a proposed initial public offering of common stock.
Stelco Negotiates Amended Deutsche Bank Commitment
28 November 2004 - Stelco Inc. has successfully negotiated Commitments from Deutsche Bank and its affiliates to replace the previously announced Commitments, which had depended on a General Motors contract. Stelco's Board of Directors unanimously approved the company entering into the revised Commitments with Deutsche Bank.
