Steel News

Ipsco Reports Record Results in 2004

14 February 2005 - Ipsco Inc. announced net income was $190 million on record sales of $780 million for the fourth quarter and net income of $439 million on record sales of $2.5 billion for the full year 2004.

NS Group President Adopts 10b5-1 Plan

11 February 2005 - NS Group, Inc.’s President and CEO, Rene J. Robichaud, has adopted a plan to sell 175,000 shares of NS Group common stock to be acquired through the exercise of stock options. The plan represents 55% of the aggregate of stock options and common stock owned by Mr. Robichaud and will continue through December 2005. The plan will diversify his asset portfolio and offer transparency to NS Group shareholders.

ISG Reports Record Results for 2004

11 February 2005 - International Steel Group Inc. (ISG) reported net income of $606.0 million on net sales of $2,553.5 million for the fourth quarter and net income of $1,027.4 million on net sales of $9,015.9 million for the year ended December 31, 2004.

Arcelor to Sell Techalloy Shares to Central Wire

10 February 2005 - Arcelor has signed an agreement with Central Wire for the sale of the company’s Techalloy Co., Inc. shares.

Court Extends Stelco Stay Period to April 29

10 February 2005 - Stelco Inc. obtained an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring from February 11, 2005 until April 29, 2005.

Algoma Steel Announces Record Earnings, Withdrawal from Stelco Process

10 February 2005 - Algoma Steel Inc. reported record net income of $122.2 million on sales of $489.8 million for the fourth quarter and net income of $343.8 million on sales of $1,803.1 million for the full year ended December 31, 2004.

ISG Burns Harbor Employees Support United Way

09 February 2005 - International Steel Group (ISG) Burns Harbor LLC employees recently capped off their United Way employee campaign by presenting a check in the amount of $617,936 to representatives from United Way of Porter County. The amount raised during the two-week campaign was a 12.1% increase over the total collected during the 2003-2004 drive.

NS Group Reports Record Annual Results

09 February 2005 - NS Group, Inc. announced net income of $24.3 million on net sales of $151.2 million for the fourth quarter and record net income of $74.6 million on net sales of $467.3 million for the year ended December 31, 2004.

Steelworkers Renew Strike Mandate at AltaSteel

08 February 2005 - Members of the United Steelworkers' Local 5220 at Stelco Inc.'s Edmonton subsidiary, AltaSteel, have voted 92% in favor of renewing its strike mandate. The mandate was initially granted to the local's bargaining committee last September during ongoing contract negotiations.

Stelco Court Monitor Files 18th Report

08 February 2005 - Stelco Inc.’s court-appointed Monitor has filed its Eighteenth Report regarding the company's Court-supervised restructuring. The Report outlines production and shipping data for Stelco’s segments as well as information on cash flow and forecasts; pension plan and OPEB information. The Report also includes an update on Stelco’s capital raising process, including the sale of Plateco, and an update on the claims procedure. In addition, the Report notes Stelco’s intention to request an extension of the stay period.

Dofasco Posts Record Earnings in 2004

07 February 2005 - Dofasco Inc. reported net income of $96.8 million on consolidated sales of $1.11 billion for the fourth quarter and net income of $376.9 million on consolidated sales of $4.22 billion for 2004. Dofasco attributes its record earnings to excellent operating performance and robust North American flat rolled steel demand.

Steelworkers to Vote on Strike Mandate at AltaSteel

03 February 2005 - Members of the United Steelworkers' Local 5220 at Stelco Inc.'s Edmonton subsidiary, AltaSteel, will vote Thursday, Feb. 3, to renew its strike mandate. The mandate was first granted to the local's bargaining committee last September during ongoing contract negotiations.

Steel Dynamics Reports Record Results for 2004

03 February 2005 - Steel Dynamics, Inc. announced net income of $82 million on net sales of $600 million for the fourth quarter, and net income of $295 million on net sales of $2.1 billion for the year 2004.

Timken Reports Increased Earnings on Record Sales

02 February 2005 - The Timken Co. reported net income of $135.7 million on record sales of $4.5 billion for 2004.

Allegheny Ludlum to Pay Penalty for Clean Water Act Violations

02 February 2005 - In papers filed in federal district court in Pittsburgh, Allegheny Ludlum Corp. has agreed to pay a $2,375,000 penalty as a part of a settlement over alleged Clean Water Act violations at the company’s Pittsburgh-area steel mills and finishing plants.

Gerdau Ameristeel Announces 2004 Results

02 February 2005 - Gerdau Ameristeel Corp. reported net income of $66.4 million on net sales of $849 million for the fourth quarter, and net income of $337.7 million on net sales of $3.0 billion for the full year ended December 31, 2004.

Oregon Steel Mills Revises 4th Quarter Earnings Estimate

01 February 2005 - Oregon Steel Mills, Inc. is increasing its fourth quarter 2004 earnings estimate. The company now estimates fourth quarter net income from continuing operations of $1.25 to $1.35 per diluted share based on approximately 35.1 million diluted weighted average shares outstanding during the fourth quarter of 2004.

Allegheny Technologies Reports 4th Quarter Results

01 February 2005 - Allegheny Technologies Inc. reported net income of $35.0 million on sales of $778.1 million for the fourth quarter ended December 31, 2004.

USS Makes Historic Conservation Donation

01 February 2005 - United States Steel Corp. and the Black Warrior-Cahaba Rivers Land Trust have reached an historic agreement that would create Red Mountain Park, one of the largest urban parks in the United States.

VAI to Supply New EAF for Acerinox

01 February 2005 - Acerinox, Spain’s largest producer of stainless steel, recently awarded Voest-Alpine Industrieanlagenbau (VAI) an order for the replacement of the existing No. 2 EAF at their plant in Palmones los Barrios, Spain. The objective of this project is to increase furnace performance to strengthen Acerinox’s leading international position in this field.