Nucor Corporationannounced that its wholly owned subsidiary, The David J. Joseph Company (”DJJ”), has signed a purchase agreement to acquire the assets of the American Compressed Steel operations of Secondary Resources, Inc. American Compressed is based in Kansas City, Missouri. In addition, DJJ has completed the acquisition of substantially all the assets of Victoria, Texas-based [...]
Esmark Incorporated announced the completion of its acquisition by OAO Severstal. The acquisition was completed pursuant to the merger of Severstal Wheeling Acquisition Corp., a wholly-owned subsidiary of Severstal, with and into Esmark. Esmark was the surviving corporation of the merger and is now an indirect, wholly-owned subsidiary of Severstal and has been renamed “Severstal [...]
Heartland, Inc. a fast growing business with experience in fabricated metals and retail has secured financing for the acquisition of the Lee Oil Company including Lee Food Marts and Lee Enterprises through Choice Financial Group of Grand Forks, North Dakota. The agreement calls for a loan in the amount of $3,250,000 at a fixed rate [...]
ArcelorMittal, the world largest integrated metals and mining company, has acquired Astralloy Steel Products Inc. (“Astralloy”) a subsidiary of IMS International Metal Service. Astralloy operates three warehouses and employs 60 people in North America. Its 2007 revenues were USD 34 million.
About ArcelorMittal
ArcelorMittal is the world’s largest integrated metals and mining company, with over 310,000 employees [...]
Universal Stainless & Alloy Products, Inc. today announced base price increases of 5% to 7% on all tool steel products manufactured at its Bridgeville and Dunkirk facilities. The increase will be effective with all new orders entered on July 1, 2008. Current material and energy surcharges will remain in effect.
Chris Zimmer, Vice President of Sales [...]
OAO Severstal, one of the world’s leading metals and mining companies, today announced that it has reached a binding agreement to purchase WCI Steel, a market leader in the production of value-added steel products based in Warren, Ohio.
According to the terms of the agreement, Severstal will acquire all outstanding equity of WCI for a total [...]
Platts, one of the world’s foremost providers of energy and metals information, today announced it is expanding its suite of spot price assessments in global metals to include steel exported from China, specifically hot-rolled coil (HRC) and concrete reinforcing bar (rebar).
“We’re pleased we can answer the steel industry’s call for a reliable source of timely, [...]
The Southern India Engineering Manufacturers’ Association (SIEMA) has urged the Centre to ban export of iron ore immediately or at least impose a steep export duty on iron ore.
In a letter to finance minister P Chidambaram, a copy of which was released to the press, SIEMA thanked him for exempting from import duty various steel [...]
A recent surge in steel prices continued Wednesday with ArcelorMittal saying it will increase prices by $250 a ton on some steel shipments — a move that will benefit steel companies such as U.S. Steel Corp., analysts said.
Strong global demand has increased prices for hot-rolled coiled steel from $529 a ton in October to $845 [...]
Against a backdrop of rising iron ore prices, Brazilian steel producers should maintain high profit margins relative to their global peers during 2008, according to Fitch Ratings. Brazilian steel companies enjoy important competitive advantages, including modern production facilities, close proximity to sources of iron ore and a highly concentrated domestic market, which limits competition based [...]
