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Latest News:
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Mittal Steel to Idle Two Blast Furnaces
Oct. 6, 2006 - Oct. 6, 2006 — Mittal Steel USA announced that it will idle two of its blast furnaces indefinitely to bring production capabilities in line with reduced levels of demand for ligh
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Mittal Opens Galvanizing Line in Cleveland
Apr. 26, 2006 - April 26, 2006 — Mittal Steel USA officially placed a new line into operation in Cleveland to produce galvanized sheet steel for automakers and other demanding customers.
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Mittal Welcomes New Pact with Steelworkers
Nov. 3, 2005 - Mittal Steel USA welcomed the ratification of new collective-bargaining agreements by members of the United Steelworkers at former Ispat Inland Inc. locations in Indiana and Minnesota.
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Mittal Steel USA to Restart Indiana Harbor Blast Furnace
Oct. 3, 2005 - Mittal Steel has elected to restart a blast furnace in its East Chicago, Ind., facility at about the time another is going down in Cleveland. The moves are part of the company's ongoing effort to balance its supply of steel with the demand for its products in the marketplace and maintenance needs for various ironmaking and steelmaking equipment.
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Ispat Inland Receives Requisite Consents
Mar. 15, 2005 - Ispat Inland Inc. affiliate Ispat Inland ULC has received the requisite consents from holders of its Senior Secured Floating Rate Notes due 2010 and its 9.75% Senior Secured Notes due 2014 to the amendments to the indenture under which the securities were issued.
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Ispat Inland Further Increases Consent Offer
Mar. 10, 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.
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Ispat Inland Accelerates Maintenance Outages
Mar. 8, 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.
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Ispat Inland Increases Consent Offer
Mar. 4, 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.
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Ispat Inland Reports Record Earnings in 2004
Feb. 24, 2005 - Ispat Inland Inc. reported net income of $41.7 million on sales revenue of $811.0 million for the fourth quarter, and record net income of $258.7 million on sales revenue of $3,157.6 million for the year 2004.
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Ispat Inland Seeks Consents from Note Holders
Feb. 22, 2005 - Ispat Inland ULC is soliciting consents from holders of its outstanding Senior Secured Floating Rate Notes due 2010 and 9.75% Senior Secured Notes due 2014 for amendments to the indenture governing the Notes.
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Ispat Iscor Commences Coke Expansion Project
Jan. 1, 2005 - Ispat Iscor Ltd. has obtained approval from South African environmental authorities to commence construction of a new coke oven battery at its Newcastle steel plant in northern Kwa-Zulu Natal. This will enable the company to expand its market coke production by some 450,000 tonnes per year.
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Ispat Shareholders Approve Formation of Mittal Steel Company
Dec. 16, 2004 - Ispat International NV shareholders have approved the company’s acquisition of LNM Holdings NV to form Mittal Steel Co. NV. Approval was granted during an Extraordinary General Meeting of Shareholders held Wednesday in Rotterdam. The transaction is expected to close on December 17, 2004.
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Ispat Inland Announces Partial Redemption of Notes
Dec. 1, 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.
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Steel Making a Comeback in Automotive Steel Wheels
Nov. 13, 2004 - Steel wheels, once facing a rapid decline in use, are making a strong comeback as automakers realize they can save up to $100 per vehicle without sacrificing quality or performance. DaimlerChrysler Corp., Ford Motor Co. and General Motors Corp., plus many European and Asian carmakers, are changing back to steel wheels for base wheels as well as for upgrade packages.
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ISG and Ispat International to Create World's Largest Steel Company
Oct. 25, 2004 - Ispat International NV and International Steel Group Inc. announced that their Boards of Directors have unanimously approved a definitive agreement under which Ispat International and ISG will merge. The merger will follow Ispat International’s just-announced acquisition of LNM Holdings NV.
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Ispat Iscor Commences Routine Blast Furnace Repairs
Oct. 1, 2004 - Ispat Iscor recently commenced routine repairs to one of the blast furnaces at its Vanderbijlpark steel mill, which was to idle the vessel for approximately seven days. The company said the repair work was required because blast furnace C had developed a localized hot spot, as a result of damage to a small section of the vessel’s refractory lining.
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Ispat Inland ULC Extends Exchange Offer
Sep. 15, 2004 - Ispat Inland Inc. and Ispat Inland ULC announced that Ispat Inland ULC has extended until 5:00 p.m. New York City time on September 15, 2004, unless further extended, the offer to exchange any and all of its unregistered $150,000,000 Senior Secured Floating Rate Notes due 2010 and $650,000,000 9 3/4% Senior Secured Notes due 2014 for its registered $150,000,000 Senior Secured Floating Rate Notes due 2010 and $650,000,000 9 3/4% Senior Secured Notes due 2014.
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Ispat Iscor to Contest Solidarity Action
Sep. 1, 2004 - Ispat Iscor confirmed that it had been served with court papers by the Solidarity trade union, and that the company would file opposing papers on the matter in due course.
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Ispat Iscor Adjusts Flat Steel Prices
Sep. 1, 2004 - Ispat Iscor announced that it will adjust domestic prices on certain steel products by 2.5 to 8% in line with international price movements. The price adjustments will be effective from November 2004.
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Management Changes at Ispat Iscor
Sep. 1, 2004 - Ispat Iscor has made excellent progress in recent years to establish itself as a premier global steel producer. With the support of its major shareholder, LNM Holdings NV, Ispat Iscor has delivered substantial sustainable audited cost savings exceeding ZAR 1,412 billion through the Business Assistance Agreement. This has contributed to a significant turnaround in the fortunes of the company, reflected in the recent interim results where an operating profit of ZAR 2.9 billion was reported.
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Coalition Announces Grand Calumet and Indiana Harbor Settlement
Aug. 23, 2004 - U. S. Steel, part of a coalition of eight companies, announced last week an historic agreement regarding plans for environmental restoration of the East Branch of the Grand Calumet River and the Indiana Harbor Canal System. The agreement, which should expedite work on the area's natural resources and habitats, settles a natural resources damages claim brought by the state of Indiana and two federal agencies against companies whose operations had allegedly had an adverse effect on the area's environment. The settlement involves eight of the companies.
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Ispat Iscor Realigns Flat Steel Prices
Aug. 1, 2004 - Ispat Iscor recently announced that it will realign its domestic flat steel prices following two consecutive months of lower pricing in the flat steel product range.
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Ispat Inland and Union Extend Current Agreements
Jul. 28, 2004 - Ispat Inland Inc. and the United Steelworkers of America have agreed to extend their collective-bargaining agreements until midnight Aug. 15. Labor contracts covering workers at three Ispat Inland locations were to expire this Saturday, July 31.
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Ispat Inland and Union Recess Talks
Jul. 19, 2004 - Ispat Inland Inc. and the United Steelworkers of America suspended talks on Thursday, July 15, after five weeks' intensive discussions toward a new collective bargaining agreement.
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Whirlpool and Ispat Inland Reach Agreement
Jun. 18, 2004 - Whirlpool Corp. and Ispat Inland Inc. have reached a confidential agreement staying the litigation involving the two companies for 45 days while securing Whirlpool's steel supply and allowing the temporary restraining order against Ispat to be dissolved.
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