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Latest News:
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Gerdau to Acquire MacSteel from Quanex
Nov. 20, 2007 - Brazil-based Gerdau Group signs definitive agreement for the acquisition of Quanex Corp.’s MacSteel business for US$ 1.458 billion in cash, plus the assumption of debt and certain liabilities.
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Quanex Updates Fourth Quarter Guidance
Nov. 5, 2007 - Quanex expects to report fiscal 2007 diluted earnings per share from continuing operations in a range of $3.30 to $3.35, driven by flat growth in North American light vehicle builds and a nearly 25% reduction in housing starts.
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Quanex Looks to Higher End of Earnings Guidance
Jul. 26, 2007 - Quanex expects to report fiscal third quarter 2007 diluted earnings per share from continuing operations in a range of $0.94 to $0.98, including an estimated $0.03 per share non-cash LIFO charge.
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Quanex Reports Record Fiscal 2006 Sales
Dec. 8, 2006 -
Dec. 8, 2006 — Quanex Corp. reported $39.1 million income from continuing operations on record sales of $527.7 million for the fiscal fourth quarter and $160.3 mil
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Macsteel Service Centers Acquires Alpha Processing
Oct. 5, 2005 - Macsteel Service Centers USA, Inc., announced today that it is expanding its heavy gauge steel processing capabilities by acquiring the business and assets of Alpha Processing, Inc. (API), located in Chicago, Ill. Terms of the purchase were not disclosed.
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Quanex Updates Third Quarter Outlook
Jul. 22, 2005 - Quanex Corp. announced that it expects to report record fiscal third quarter diluted earnings per share from continuing operations when results are announced on August 25, 2005.
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Quanex Expects Record Diluted EPS from Continuing Operations in Q2
Apr. 21, 2005 - Quanex Corp. announced that it expects to report record fiscal second quarter diluted earnings per share from continuing operations when results are announced on May 26, 2005. Diluted earnings per share from continuing operations are expected to be in the range of $1.80 to $1.85, compared to the $0.43 reported in the year-ago quarter.
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Macsteel Service Centers Acquires Alpha Steel
Apr. 20, 2005 - Macsteel Service Centers USA Inc. has acquired the business and assets of PHA Steel, LLC, operating under the brand name Alpha Steel, a privately owned steel service center located in Hammond, Ind. Terms of the purchase were not disclosed.
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MacSteel Plans New Ladle Met Degasser for Fort Smith
Apr. 1, 2005 - MacSteel has awarded SMS Demag Inc. a contract for the engineering and supply of a 60-ton twin tank car vacuum degasser and ladle furnace for the company’s Arkansas Division in Fort Smith, Ark.
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Quanex Reports First Quarter 2005 Results
Mar. 1, 2005 - Quanex Corp. reported record net income from continuing operations of $33.7 million on record net sales of $470.2 million for its fiscal first quarter.
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Quanex Sells Piper Impact
Jan. 27, 2005 - Quanex Corp. announced the sale of Piper Impact, the company's cold forged impact extrusion business, to Piper Metal Forming Corp., a privately held company.
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Quanex Raises Cash Dividend, Declares 3-for-2 Stock Split
Dec. 3, 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.
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Quanex Updates Third Quarter Outlook
Jul. 24, 2004 - Quanex Corp. expects to report third quarter diluted earnings per share from continuing operations in the range of $1.20 to $1.25 when financial results are reported on August 26, 2004. The company commented that its guidance includes an estimate for an expected third quarter LIFO charge, the result of rising raw material costs. The current earnings outlook is up from previous guidance as Quanex continues to experience strong demand and margin improvements, together with results from its two recent acquisitions that continue to exceed expectations.
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Quanex Announces 2nd Quarter Results
Jun. 4, 2004 - Quanex Corp. announced record net income of $11.5 million on record net sales of $406.0 million for the fiscal second quarter ending April 30, 2004. Results included three months results from the company's acquisitions of MacSteel Monroe and TruSeal Technologies.
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Quanex 2nd Quarter Segment Analysis
Jun. 4, 2004 - Vehicular Products Segment—"North American light vehicle builds remained at very robust levels during the quarter and MacSteel's operations ran close to their rated capacity,” comments Jean. “Backlogs in the third quarter remain healthy, although light vehicle inventories at the retail level are a concern. Our Vehicular Products segment also benefited from excellent heavy duty truck production during the second quarter, which continues to outpace year ago figures by nearly 50%.
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Quanex Expects Record Q1 Earnings
Jan. 18, 2004 - Quanex Corp. expects to report record fiscal first quarter diluted earnings per share from continuing operations when results are announced on February 24, 2005.
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Quanex Closes Acquisition of North Star Steel's Monroe Facility
Jan. 2, 2004 - Quanex Corp. announced the closing of the asset purchase of the Monroe, Mich. steel mill of North Star Steel, a subsidiary of Cargill, Inc., for $115 million in cash. The company financed the acquisition by borrowing against its $310 million revolving credit facility.
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