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Latest News:
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Steel Dynamics Reports Third Quarter 2011 Results
Oct. 18, 2011 - Steel Dynamics, Inc. announced net income of $43 million on net sales of $2.0 billion for the third quarter, and net income of $248 million on net sales of $6.14 billion for the nine months ended September 30, 2011.
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Steel Dynamics Names Millett as President and CEO, Effective 2012
Oct. 17, 2011 - The Steel Dynamics, Inc. Board of Directors has appointed Mark D. Millett to the position of President and Chief Executive Officer of the company, effective January 1, 2012. At that time, Keith Busse will become Chairman of the company's board of directors.
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Steel Dynamics Provides Third Quarter Earnings Guidance
Sep. 13, 2011 - Steel Dynamics is expecting to report third quarter earnings in the range of $0.18 to $0.22 per diluted share, a decrease from the previous quarter due primarily to a substantial drop in anticipated third quarter flat rolled earnings.
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Steel Dynamics, ThyssenKrupp Steel USA Receive Industry Awards
Jul. 7, 2011 - Steel Dynamics, Inc. was recently honored as "Steel Producer of the Year" as part of American Metal Market's second annual Awards for Steel Excellence, while ThyssenKrupp Steel USA was named as the winner for “Best Greenfield Technology”.
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Steel Dynamics Provides Second Quarter Earnings Guidance
Jun. 17, 2011 - Steel Dynamics, Inc. expects second quarter earnings to be in the range of $0.35 to $0.40 per diluted share, lower than the first quarter 2011 reported results of $0.46, but higher than earnings of $0.22 per diluted share achieved in Q2 2010.
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Steel Dynamics Names Millett President and COO
Apr. 15, 2011 - Steel Dynamics, Inc.’s board of directors has approved the appointment of Mark D. Millett to the new position of President and Chief Operating Officer, effective immediately. Richard P. Teets Jr. will continue as Executive Vice President and President and COO of Steelmaking.
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Steel Dynamics Declares Quarterly Cash Dividend, Provides Q4 Guidance
Dec. 17, 2010 - Steel Dynamics' board of directors has declared a quarterly cash dividend of $0.075 per common share, payable on or about January 14, 2011. The company also expects fourth quarter earnings per diluted share, before certain asset impairment charges related to its fabrication operations, to be in the range of $0.05 to $0.10.
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OmniSource Responds to Criminal Charges
Oct. 26, 2010 - Steel Dynamics, Inc. announced that its wholly-owned subsidiary, OmniSource Corp., was indicted on multiple criminal charges involving the alleged receipt or attempted receipt of stolen property. The allegations come after a lawsuit filed on October 15 against the Prosecutor seeking the return of $277,000 in cash unlawfully retained after the raid.
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Steel Dynamics Reports 3rd Quarter 2010 Results
Oct. 19, 2010 - Steel Dynamics reports net income of $19 million on net sales of $1.6 billion for the third quarter, and net income of $133 million on net sales of $4.8 billion for the first nine months of 2010.
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Standard Rail from Steel Dynamics Approved by U.S. Railroads
Oct. 5, 2010 - Standard Strength rail produced at Steel Dynamics, Inc.’s Columbia City, Ind., mill has been tested and approved by four U.S.-based Class I railroads and by Amtrak, the National Railroad Passenger Corp. SDI's Structural & Rail Division has begun rail shipments to Class I railroads.
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Steel Dynamics to Buy Joist-Making Assets from Commercial Metals
Sep. 29, 2010 - Steel Dynamics, Inc. has agreed to acquire from affiliates of Commercial Metals Co. certain facilities and assets of CMC's former steel-joist manufacturing operations. These assets will become a part of SDI's wholly owned subsidiary, New Millennium Building Systems.
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Steel Dynamics Announces Second Quarter Earnings Guidance
Jun. 17, 2010 - Steel Dynamics, Inc. announced that it expects to report earnings of $0.20 to $0.25 per diluted share for the second quarter. Anticipated results reflect lower flat-rolled volumes and margins vs. the previous quarter, as well as the impact of both planned and unplanned outages.
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Steel Dynamics to Offer $300 Million in Notes
Mar. 12, 2010 - Steel Dynamics announces plans to sell approximately $300 million in aggregate principal amount of debt securities in a transaction exempt from the registration requirements of the Securities Act of 1933.
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Steel Dynamics Declares Cash Dividend, Issues Q1 Guidance
Mar. 10, 2010 - Steel Dynamics’ board has declared a quarterly cash dividend of $0.075 per common share, payable on or about April 12, 2010, to shareholders of record at the close of business on March 31, 2010. The company also issued first quarter 2010 earnings guidance of $0.22 to $0.27 per diluted share.
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Steel Dynamics Reports 4th Quarter, 2009 Results
Feb. 4, 2010 - Steel Dynamics reported net income of $26.7 million on net sales of $1.2 billion for the fourth quarter and a net loss of $8.2 million on net sales of $4.0 billion for the fiscal year ended December 31, 2009.
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Kobe Steel Begins Production using ITmk3 Process
Jan. 18, 2010 - The world's first commercial plant using Kobe Steel’s ITmk3 process successfully began production of iron nuggets in the United States on January 12. Production is expected to reach the facility's annual design capacity of 500,000 tonnes in mid-2010.
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Steel Dynamics Starts Production of Mesabi Nuggets
Jan. 14, 2010 - Steel Dynamics produces its first batch of iron nuggets at its Mesabi Nugget facility at Hoyt Lakes, Minn., marking the world's first commercial production of nuggets using the ITmk3 process developed by Kobe Steel Ltd.
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Steel Dynamics Reports 2nd Quarter 2009 Results
Jul. 23, 2009 - Steel Dynamics reports a net loss of $16 million on net sales of $792 million for the second quarter, and a net loss of $104 million on net sales of $1.61 billion for the first six months of 2009.
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Steel Dynamics Expects to Report Small 2nd Quarter Loss
Jun. 22, 2009 - Steel Dynamics updates its outlook for the second quarter of 2009, saying that it now expects to report a loss of $0.10 to $0.15 per diluted share, after taking into account the recent issuance of common stock and convertible securities.
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Steel Dynamics Announces Offerings of Stock, Notes
Jun. 3, 2009 - Steel Dynamics announced its intention to offer 27 million shares of common stock and $150 million of convertible senior notes due 2014, with the notes guaranteed by certain of its subsidiaries.
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Steel Dynamics Updates First Quarter Earnings Guidance
Mar. 12, 2009 - Continued weakness in market conditions leads Steel Dynamics to reduce its first quarter estimate of earnings to a loss of $0.40 to $0.45 per diluted share, reflecting continued weakness in the company’s metals recycling segment, lower production rates, and lower volumes of steel shipments.
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Steel Dynamics Provides 4th Quarter, Full-Year Outlook
Dec. 15, 2008 - ABSTRACT: Despite an expected fourth-quarter loss of $0.35 to $0.40 per diluted share, Steel Dynamics says it expects to report full-year 2008 earnings in the range of $2.35 to $2.40 per diluted share, reflecting record annual revenues, operating income, and cash flow from operations.
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Steel Dynamics Reports Strong Third Quarter Results
Oct. 16, 2008 - Steel Dynamics reports net income of $193 million on net sales of $2.6 billion for the third quarter, and record net income of $546 million on record net sales of $6.9 billion for the first nine months of 2008.
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Steel Dynamics Realigns Organization
Aug. 6, 2008 - Steel Dynamics realigns its executive management structure, with each of the company's three current executive vice presidents assuming new responsibilities for various segments of the company, supported by additional corporate management appointments.
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Steel Dynamics Increases Share Repurchase Program
Jul. 30, 2008 - The Steel Dynamics Board approves an increase of 5 million shares to the company’s existing share repurchase program, giving Steel Dynamics the authority to repurchase up to an additional 8.9 million shares.
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Acquisitions Boost Steel Dynamics Sales, Earnings
Jul. 23, 2008 - Boosted by its recent acquisitions (The Techs, OmniSource, and Recycle South), Steel Dynamics reports net income of $210 million on net sales of $2.4 billion for the second quarter, and net income of $353 million on net sales of $4.3 billion for the first half of 2008.
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Steel Dynamics to Offer $300 Million in Notes
Mar. 28, 2008 - Steel Dynamics announces plans to sell approximately $300 million in aggregate principal amount of debt securities in a transaction that would be exempt from the Securities Act of 1933, but would be subject to market and other conditions.
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Steel Dynamics Reports Strong Results for 2007
Jan. 29, 2008 - Steel Dynamics announces net income of $98 million on net sales of $1.5 billion for the fourth quarter, and net income of $395 million on record net sales of $4.4 billion for the full year of 2007.
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Steel Dynamics Updates Earnings Guidance
Dec. 20, 2007 - Excluding the effect of its late-October acquisition of OmniSource, Steel Dynamics expects fourth quarter earnings to be in line with the guidance that was issued in October.
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Steel Dynamics Completes Purchase of Minnesota Iron Mine
Dec. 4, 2007 - Steel Dynamics completes its purchase of a shuttered Hoyt Lakes, Minn., taconite mine from Cleveland Cliffs where it will invest $165 million so it can mine and concentrate iron ore for its Mesabi Nugget venture with Kobe Steel.
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Steel Dynamics Completes OmniSource Acquisition
Oct. 29, 2007 - Steel Dynamics completes its acquisition of OmniSource for approximately $1.1 billion, including $425 million in cash, 9.7 million shares of SDI common stock, and the assumption of approximately $220 million of debt, which was repaid on closing.
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Steel Dynamics Reports 3rd Quarter Earnings
Oct. 17, 2007 - Steel Dynamics announces earnings of $101 million on revenues of $1.2 billion for the third quarter and net income of $297 million on revenues of $2.9 billion for the first nine months of 2007.
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Steel Dynamics Announces Offering of Notes
Oct. 5, 2007 - Steel Dynamics plans to sell approximately $500 million in aggregate principal amount of debt securities in a transaction exempt from the registration requirements of the Securities Act of 1933.
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Steel Dynamics to Acquire OmniSource
Oct. 2, 2007 - Steel Dynamics enters a definitive agreement to acquire OmniSource, one of North America’s largest scrap recycling companies, in a transaction valued at slightly more than $1 billion.
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Steel Dynamics Adds Term Loan A Facility
Sep. 12, 2007 - Steel Dynamics amends its existing $750-million senior secured credit facility to allow for the addition of a $550-million term loan A facility.
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Steel Dynamics Updates Third Quarter Earnings Guidance
Aug. 31, 2007 - Steel Dynamics says third-quarter earnings could be in an updated range of $1.02 to $1.07 per diluted share, but says its near-term market assessment remains relatively unchanged from its most recent news release in July.
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Steel Dynamics Reports Second Quarter Results
Jul. 24, 2007 - Steel Dynamics reports earnings of $94 million on net sales of $911 million for the second quarter, and net income of $196 million on net sales of $1.8 billion for the first half of 2007.
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Steel Dynamics to Acquire The Techs
Jun. 14, 2007 - Steel Dynamics enters into a definitive agreement to acquire Pennsylvania-based The Techs, paying $360 million for the company on a cash-free debt-free basis, subject to certain adjustments.
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Steel Dynamics Affirms Healthy Earnings Outlook
May 30, 2007 - Steel Dynamics says it expects to report second quarter earnings in the range of $0.95 to $1.00 per diluted share, based on strong market conditions for structural steels and steel bars tempered by weaker-than-projected volumes and pricing for flat rolled steel.
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Steel Dynamics to Buy Two Tennessee Scrap Yards
Apr. 4, 2007 - April 4, 2007 — Steel Dynamics, Inc. has reached an agreement to purchase two privately owned metals recycling facilities in eastern Tennessee.
Together, the two scrap yards—
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Steel Dynamics to Offer Notes
Mar. 29, 2007 - March 29, 2007 — Steel Dynamics, Inc. announced that it plans to sell approximately $400 million in aggregate principal amou
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Steel Dynamics Raises 1st Quarter Earnings Guidance
Mar. 13, 2007 - March 13, 2007 — Higher shipping volumes and margins that are somewhat stronger than initially projected are prompting Steel Dynamics, Inc. to raise its estimate of first quarter 2007 earning
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SDI Board OKs New Mesabi Nugget Initiative
Mar. 2, 2007 - March 2, 2007 — Steel Dynamics, Inc.’s Board of Directors has approved the company's participation with Kobe Steel to construct and operate a $235-million iron-making facility in the Ho
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Steel Dynamics Reports Record Results for 2006
Jan. 24, 2007 - Jan. 24, 2007 — Steel Dynamics, Inc. announced net income of $105 million on net sales of $840 million for the fourth quarter and net income of $397 million on net sales of $3.2 billion for t
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Steel Dynamics Reports Strong Year-End Results
Jan. 24, 2006 - Jan. 24, 2006 — Steel Dynamics, Inc. announced net income of $65 million on net sales of $570 million for the fourth quarter, and net income was $222 million on net sales of $2.2
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Steel Dynamics Upgrades Fourth Quarter Outlook
Dec. 19, 2005 - Steel Dynamics, Inc. announced it anticipates stronger fourth quarter results than previously expected, with fourth quarter 2005 earnings per diluted share expected to be in the range of $1.20 to $1.25.
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Steel Dynamics to Expand Bar Processing at Pittsboro
Dec. 1, 2005 - Steel Dynamics, Inc. announced plans to expand operations at its Bar Products mill in Pittsboro, Ind., with additional downstream finishing operations for its special-bar-quality (SBQ) steel bar production.
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Don Daily Elected 2006-2007 Chairman of SMA
Oct. 24, 2005 - The Steel Manufacturers Association (SMA) Board of Directors announced the election of Don Daily as Chairman of the SMA for 2006 and 2007. He will succeed Keith Busse, who concludes his two-year term in February 2006.
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Steel Dynamics Replaces Credit Facility
Sep. 8, 2005 - Steel Dynamics, Inc. has replaced its existing $230 million senior secured revolving credit facility with a new 5-year $350 million senior secured revolving credit facility.
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Hydrogen Gas Supply Issues to Impact SDI Process Lines
Sep. 6, 2005 - Steel Dynamics, Inc. has notified its customers for cold rolled, galvanized and painted sheet products that, until it can make alternative hydrogen gas supply arrangements, it is suspending order entry for these hydrogen gas-dependent, value-added products.
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SMS Demag to Modernize Steel Dynamics CSP Plant
Jul. 26, 2005 - Steel Dynamics, Inc. (SDI) has placed an order with SMS Demag, Germany, to modernize the casting strands of the CSP® plant (Compact Strip Production), which were commissioned in 1995 (first strand) and 1996 (second strand).
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Steel Dynamics Announces Accounting Vice President
May 19, 2005 - Steel Dynamics, Inc. has promoted Theresa Wagler to the position of Vice President and Corporate Controller. In her new position, Wagler, 34, will continue to report to the company's Chief Financial Officer.
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Keith Busse Named Steelmaker of the Year at AISTech 2005
May 19, 2005 - Keith E. Busse, President and CEO of Steel Dynamics Inc. was named “Steelmaker of the Year” at AISTech 2005 — The Iron & Steel Technology Conference and Exposition, managed by the Association for Iron & Steel Technology. The Steelmaker of the Year Award is presented annually by the AIST to recognize notable leaders and their contributions to the steel industry.
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Industry Representatives Speak Out in China Currency Case
Apr. 19, 2005 - On behalf of the American Iron and Steel Institute (AISI) and the Steel Manufacturers Association (SMA), John Nolan, Vice President of Marketing and Sales for Steel Dynamics, Inc. (SDI), submitted written testimony last week to the House Ways and Means Committee related to the hearing on “United States-China Economic Relations and China’s Role in the World Economy.”
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Steel Dynamics Appoints Two New Directors
Mar. 18, 2005 - Steel Dynamics, Inc.’s Board of Directors has increased the authorized number of directors from ten to eleven. The board announced that current SDI director James E. Kelley, 86, has resigned due to ill health.
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Steel Dynamics Revises Earnings Outlook
Mar. 17, 2005 - Steel Dynamics, Inc. has adjusted its outlook for the first half of 2005. The new guidance forecasts lower than previously expected first quarter results, but a stronger and substantially improved second quarter.
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Steel Dynamics Reports Record Results for 2004
Feb. 3, 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.
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Steel Dynamics Sets Fourth Quarter Cash Dividend
Dec. 31, 2004 - Steel Dynamics, Inc. announced its previously approved fourth quarter dividend of $0.10 per common share will be payable on January 17, 2005, to shareholders of record at the close of business on December 31, 2004.
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Steel Dynamics Reports Record 3rd Quarter Sales and Earnings
Oct. 19, 2004 - Steel Dynamics, Inc. announced record third quarter earnings of $114 million on record net sales of $635 million, and net income $213 million on net sales of $1545 million for the third quarter and nine months ended Sep. 30, 2004, respectively.
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Danieli Restarts Upgraded Pittsboro Bar Mill
Sep. 13, 2004 - Danieli Morgårdshammar recently started the hot run of the Steel Dynamics Inc. bar mill in Pittsboro, Ind., following an upgrade of the finishing mill area and finishing facilities.
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Mesabi Nugget Successfully Concludes Pilot Plant Phase
Sep. 10, 2004 - Larry Lehtinen, President of Mesabi Nugget, LLC (MNC) announced the successful conclusion of the pilot plant testing phase of the Mesabi Nugget Project. The announcement culminates twelve months of engineering and construction followed by fourteen months of plant operations. The company will now proceed forward with commercialization of the Kobe Steel ITmk3 Process® and the iron nugget technology.
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Heidtman Celebrates 50 Years in the Steel Industry
Sep. 9, 2004 - Heidtman Steel recently celebrated 50 years in the steel industry. Started up in 1954 by F. William “Fred” Heidtman, the company has grown to become a leading supplier of flat-rolled carbon steel products from 11 processing facilities.
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AISI Chairman Details Challenges to Domestic Industry
Aug. 20, 2004 - “We are witnessing major structural changes in the steel industry, which can be described accurately as both ‘revolutionary’ and predictable,” American Iron and Steel Institute (AISI) Chairman David S. Sutherland, President and CEO of Ipsco, Inc., testified Thursday, August 19, at a Steel Caucus field hearing in Pittsburgh.
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Judge Dismisses GM Lawsuit against Steel Dynamics
Aug. 6, 2004 - Steel Dynamics, Inc. announced that on August 4, 2004, a Michigan circuit court judge dismissed General Motors Corp.'s lawsuit against SDI over an alleged multi-year steel purchase agreement.
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Steel Industry Groups Sign Safety Alliance with OSHA
Jul. 8, 2004 - The U.S. Occupational Safety and Health Administration (OSHA) and the three major trade associations representing virtually all of the basic and specialty steel producers in America have joined forces in an effort to enhance worker safety and health in the nation's steel mills.
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EPA Region 5 Settles Case with Steel Dynamics
Jun. 25, 2004 - U.S. Environmental Protection Agency Region 5 recently settled an administrative case involving hazardous chemical reporting violations with Steel Dynamics, Butler, Ind. An additional case was settled with Kohl's Foods, Milwaukee, Wis., and new complaints were filed against Sewall Gear Manufacturing, St. Paul, Minn., and U.S. Aluminate Co., Ashtabula, Ohio.
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