Steel News is a publication of the Association for Iron and Steel Technology.

STEEL PROCESSORS HEADLINES

Steel Producers / Steel Processors

Latest News:

Worthington Reports Second Quarter Results
Dec. 24, 2007 - Worthington Industries reports net earnings were $14.7 million on net sales of $713.7 million for the second quarter of fiscal 2008, and net income of $34.9 million on net sales of $1,472.6 million for the six-months ended November 30, 2007.

Reliance Subsidiary Valex Opens Facility in China
Dec. 19, 2007 - Reliance Steel & Aluminum subsidiary Valex Corp. opens Valex China Co. Ltd., its first manufacturing plant based in China.

ArcelorMittal to Acquire MT Majdalani
Dec. 12, 2007 - ArcelorMittal announces its acquisition of M.T. Majdalani Y Cia. SA, Argentina’s leading stainless steel service center and distributor.

Steel Technologies to Consolidate Operations with Mi-Tech Steel
Dec. 12, 2007 - Steel Technologies announces plans to combine its operations with Mi-Tech Steel’s, creating a combined company that will operate a total network of 25 facilities and generate projected annual revenues of approximately $1.4 billion.

Ryerson Announces Chicago Restructuring
Dec. 3, 2007 - Ryerson Inc. announced plans to restructure its Chicago operations, transitioning its Chicago business to its other locations by the end of 2008.

Rolled Metal Products Acquires Torrington Brass & Steel
Nov. 15, 2007 - Rolled Metal Products announces the acquisition of Torrington Brass & Steel, a provider of slit and edge conditioned stainless and high carbon steel, as well as copper and brass wire and coil.

Posco Starts up High-End Processing Center in Poland
Nov. 15, 2007 - Posco celebrates completion of construction and start-up of operations for the Posco-Poland Processing Center, the company’s high-end steel processing center in Poland.

UGITECH USA to Add Two North American Stocking Locations
Nov. 13, 2007 - Specialty steels provider UGITECH USA announces plans to expand its distribution network by adding stocking locations in Cleveland and Toronto.

Novamerican Steel Shareholders Okay Acquisition by Symmetry Holdings
Nov. 2, 2007 - Novamerican Steel shareholders approved the plan of arrangement for the company’s acquisition by a wholly-owned indirect subsidiary of Symmetry Holdings.

Olympic Steel Reports 3rd Quarter Sales and Earnings
Nov. 2, 2007 - Olympic Steel reports net income of $6.0 million on net sales of $256.1 million for the third quarter, and net income of $20.7 million on net sales of $792.9 million for the first nine months of 2007.

Gibraltar Reports 3rd Quarter Sales and Earnings
Nov. 2, 2007 - Excluding one-time charges related to the sale of Hubbell Steel and Solar Michigan, Gibraltar Industries reports $12.8 million income from continuing operations on $343 million in sales from continuing operations for the third quarter, and $35.8 million income from continuing operations on $1 billion in sales from continuing operations for the first nine months.

Russel Metals Reports 3rd Quarter Earnings
Nov. 1, 2007 - Russel Metals reports net earnings of $28 million on revenues of $624 million for the third quarter of 2007.

Steel Technologies to Expand New Operation in Juarez, Mexico
Nov. 1, 2007 - With startup of its new facility in Juarez, Mexico, Steel Technologies announces plans to further expand its operations with rail service and a new multi-blanking line.

Metals USA Reports 3rd Quarter Results
Oct. 31, 2007 - Metals USA announces net income of $7.7 million on sales revenues of $469.6 million for the quarter ended September 30, 2007.

Ryerson Launches Comprehensive Reorganization
Oct. 25, 2007 - Newly acquired Ryerson takes initial steps in a comprehensive reorganization, beginning with several key appointments to the company's senior leadership team.

Reliance Names Chairman of the Board and CEO
Oct. 22, 2007 - Reliance Steel & Aluminum announces that David H. Hannah, currently Chief Executive Officer, has been elected to the additional role of Chairman of the Board, effective October 17, 2007.

Cargill and Robinson Steel Finalize Joint Venture
Oct. 19, 2007 - Global iron and steel trader, processor and distributor Cargill has joined with RPS manufacturer and distributor Robinson Steel to form a new venture named Cargill Robinson, LLC.

Reliance Reports 3rd Quarter Results
Oct. 19, 2007 - Reliance Steel & Aluminum reported net income of $93.6 million on sales of $1.81 billion for the third quarter and record net income of $328.0 million on record sales of $5.55 billion for the nine months ended September 30, 2007.

voestalpine Further Expands its Presence in Southeastern Europe
Oct. 8, 2007 - The voestalpine Group continues its expansion in southeastern Europe with the construction of a new steel service center in Romania, which follows the startup of another steel service center in Poland earlier this year.

Olympic Steel Announces Scholarship Recipients
Oct. 5, 2007 - Olympic Steel announces seventeen recipients of its corporate scholarship program – nine new awardees, and eight renewals.

Ryerson Announces Convertibility of Senior Notes
Oct. 4, 2007 - Ryerson's 3.50% Convertible Senior Notes due 2024 will be convertible beginning October 4, 2007 through November 21, 2007, the date on which Ryerson's fundamental change repurchase offer is expected to expire.

PTC Alliance to Meet with Federal Mediator and Union
Oct. 4, 2007 - Welded and cold drawn mechanical steel tubing manufacturer PTC Alliance agrees to a request that it meet with the federal mediator and the United Steelworkers to discuss the strike of roughly 200 workers at its Alliance, Ohio, plant.

Gibraltar to Sell the Assets and Cease the Operations of Its Hubbell Steel Subsidiary
Oct. 4, 2007 - Gibraltar Industries is selling the assets and ceasing operations of its Hubbell Steel subsidiary in support of its ongoing effort to sell non-core assets and businesses.

Reliance Completes Acquisition of Metalweb
Oct. 3, 2007 - Reliance Steel & Aluminum completes its purchase of Metalweb plc, a Birmingham, England, based metal service center with three additional centers in England.

Worthington Subsidiary Supports Housing Donation for Injured Veteran
Oct. 2, 2007 - Worthington Integrated Building Systems is partnering with the METALCON International trade show and Homes for Our Troops to build a home for injured U.S. Marine Corps veteran Cpl. Evan Morgan and his family.

Russel Metals Completes Acquisition of JMS Metal Services
Oct. 1, 2007 - Russel Metals completes its acquisition of JMS Metals Services and related companies.

Dietrich Metal Framing Products Featured on Extreme Makeover Season Premiere
Sep. 28, 2007 - The season premiere of the TV show Extreme Makeover: Home Edition will feature metal wall and floor framing materials from Dietrich Metal Framing for a project in Kalihi, Hawaii, that will be the show’s largest build to date.

Dietrich Metal Framing Announces New President
Sep. 27, 2007 - Dietrich Metal Framing names John Roberts as its new President; John had served as the company’s Vice President of Sales and Marketing since June.

Worthington Reports 1st Quarter Results
Sep. 26, 2007 - Worthington Industries reported net earnings of $20.2 million on net sales of $759.0 million for the three months ended August 31, 2007.

Dietrich to Consolidate Five Metal Framing Facilities
Sep. 26, 2007 - Worthington Industries announces plans to implement a consolidation plan at five of its Dietrich Metal Framing locations.

View Archives