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

STEEL PROCESSORS HEADLINES

Steel Producers / Steel Processors

Latest News:

Ranger Steel Opens New Southern California Facility
Sep. 19, 2007 - Ranger Steel opens its fourth distribution center in the Los Angeles Basin to serve the west coast and northwestern states.

Reliance Steel & Aluminum to Acquire Metalweb
Sep. 19, 2007 - Reliance Steel & Aluminum Co. has reached an agreement to acquire the outstanding capital stock of Metalweb plc, a Birmingham, England based processor and distributor of products for non-structural aerospace components and general engineering parts.

Ryerson Schedules Special Meeting for Approval of Merger
Sep. 19, 2007 - Ryerson will hold a special meeting of stockholders on October 17 to vote on a proposal to approve its merger with an affiliate of Platinum Equity.

Ryerson Acquisition Passes U.S. Antitrust Waiting Period
Sep. 10, 2007 - Ryerson passes the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its proposed merger with an affiliate of Platinum Equity LLC.

Gibraltar Acquires Florence Corporation
Sep. 5, 2007 - Gibraltar Industries acquires Florence Corp., a leading manufacturer of engineered storage solutions, including centralized mail and package delivery products.

Russel Metals to Acquire JMS Metal Services
Sep. 5, 2007 - Russel Metals enters into share purchase agreement to acquire 100% of the outstanding capital stock of JMS Metals Services and related companies.

Nucor Completes Acquisition of Magnatrax
Aug. 28, 2007 - Nucor completes its acquisition of Magnatrax for a cash purchase price of approximately $280 million.

Cargill and Robinson Steel to Form Joint Venture
Aug. 24, 2007 - Cargill will enter into joint venture with Robinson Steel to produce and distribute RPS Sheet and Plate under license; Cargill will supply the hot band plus sales and marketing support, and Robinson will manage RPS production.

Stockholders Re-Elect All 11 Incumbent Ryerson Directors
Aug. 24, 2007 - Stockholders at Ryerson’s 2007 Annual Meeting of Stockholders re-elect all 11 Ryerson director nominees to the company’s Board of Directors.

Reliance Purchases Shares of its Common Stock
Aug. 22, 2007 - Reliance Steel & Aluminum has been actively repurchasing shares of its own common stock in the open market under the company's Stock Repurchase Plan.

Worthington to Form European Steel Processing Joint Venture
Aug. 21, 2007 - Worthington Steel will form a joint venture with The Magnetto Group to operate a steel processing facility in Kosice, Slovakia.

Worthington to Form Mexican Steel Processing Joint Venture
Aug. 21, 2007 - Worthington Steel signs agreement to acquire a 50% interest in privately held Serviacero Planos, which will own and operate existing service centers in Leon and Queretaro in central Mexico.

Harbinger Capital Partners Sends Letter to Ryerson Stockholders
Aug. 8, 2007 - Harbinger Capital Partners sends letter to the Ryerson stockholders urging them to elect new directors to the Ryerson Board at the Annual Meeting of stockholders to be held August 23, 2007.

Olympic Steel Reports 2nd Quarter Earnings
Aug. 6, 2007 - Olympic Steel reports net income of $9.4 million on net sales of $277.4 million for the second quarter and net income of $14.7 million on net sales of $536.8 million for the first six months of 2007.

Ryerson to be Acquired by Platinum Equity
Jul. 25, 2007 - Ryerson enters into a definitive merger agreement to be acquired by Platinum Equity in a transaction valued at approximately $2.0 billion.

GE Antares Leads Credit Facility for RathGibson Acquisition
Jul. 6, 2007 - GE Antares closes a transaction as administrative agent for an $80-million senior secured facility for the acquisition of RathGibson by DLJ Merchant Banking Partners.

Reliance Completes Acquisition of Clayton Metals
Jul. 4, 2007 - Reliance Steel & Aluminum completes its purchase of the outstanding capital stock of Wood Dale, Ill., based Clayton Metals, Inc.

Metals USA Announces Acquisition of Lynch Metals
Jul. 4, 2007 - Metals USA Holdings announces the acquisition of Lynch Metals and Lynch Metals of California.

Worthington Reports Fourth Quarter and Fiscal Year Results
Jun. 29, 2007 - Worthington Industries reports net earnings of $38.2 million on net sales of $786.6 million for the fourth quarter, and net earnings of $113.9 million on net sales of $2,971.8 million for the twelve-month period ended May 31, 2007. Annual earnings were the third best in the company’s history, after fiscal 2005 and fiscal 2006.

Metals USA Reports Projected 2nd Quarter Results
Jun. 22, 2007 - Metals USA announces projected second quarter operating results, including net income in the range of $13.7 to $14.7 million on net sales that will range from $475 to $490 million.

Reliance to Acquire Clayton Metals
Jun. 21, 2007 - Reliance Steel & Aluminum will acquire the outstanding capital stock of Wood Dale, Ill., based Clayton Metals, processor and distributor of aluminum, stainless steel, and red metal flat-rolled products, custom extrusions and aluminum circles.

Russel Metals Announces 2006 Annual Results
Feb. 20, 2007 - Feb. 20, 2007 — Russel Metals Inc. announced net earnings of $31 million for the fourth quarter and net earnings of $159 million for the year ended December 31, 2006.

Russel Metals Reports Strong 4th Quarter Earnings
Feb. 24, 2006 - Feb. 24, 2006 — Russel Metals Inc. reported net earnings of $41.8 million on revenues of $646.9 million for the fourth quarter and net earnings of $124.7 million on revenues of $

Russel Metals Director Tenders Resignation
Dec. 13, 2005 - Mr. Pierre Brunet has notified Russel Metals Inc. that he will resign from the company’ Board of Directors effective December 31, 2005, due to his increased workload as Chairman of the Caisse de depot et placement du Quebec. Mr. Brunet had assumed his role as Chairman after joining the Russel Metals Board of Directors.

Russel Metals Sells Lachine Facility
May 10, 2005 - Russel Metals Inc. announced the sale of its previously closed Lachine, Que., distribution center. The Lachine facility had become redundant with Russel’s acquisition of Acier Leroux.

Russel Metals Announces 2nd Quarter Earnings
Jul. 27, 2004 - Russel Metals Inc. reported net earnings of $50.4 million on revenues of $597 million for the second quarter of 2004.

Russel Metals Adjusts 2nd Quarter Earnings Outlook
Jun. 16, 2004 - Russel Metals Inc. announced it expects second quarter earnings per share to be in the range of $0.85 to $1.00 per share, significantly exceeding previously provided earnings per share guidance of $0.50 to $0.65 per share.

View Current Articles