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SteelNews.com is a publication created by the Association for Iron and Steel Technology (AIST) for the steel community. We are the leading source for technological and innovative news on the people, producers and suppliers in the North American and international steel communities.

 

STELCO HEADLINES

Steel Producers / Stelco
Latest News:
U.S. Steel Completes Stelco Acquisition, Announces Management Team
Nov. 1, 2007 - United States Steel completes its acquisition of Stelco, and names the management team for the newly acquired facilities, which have been renamed as U. S. Steel Canada.
U.S. Steel Reports 3rd Quarter Results
Oct. 31, 2007 - United States Steel reports net income of $269 million on net sales of $4.35 billion for the third quarter, and net income of $844 million on net sales of $12.34 billion for the first nine months of 2007.
Canadian Ministry Clears U.S. Steel’s Acquisition of Stelco
Oct. 30, 2007 - United States Steel receives approval of its acquisition of Stelco from the Canadian Minister of Industry under the Investment Canada Act.
Stelco Shareholders Okay Acquisition by U.S. Steel
Oct. 29, 2007 - Stelco shareholders overwhelmingly approve the corporation’s arrangement for its acquisition by United States Steel during a special meeting of shareholders.
Stelco Reports 3rd Quarter Results, Status of Acquisition
Oct. 25, 2007 - Stelco reports net income of $38 million on sales of $634 million for the quarter, and a net loss of $42 million on sales of $1.96 billion for the nine months ended September 30, 2007.
Stelco Reports Interest Rate for Floating Rate Notes
Sep. 28, 2007 - The rate of interest per annum for Stelco's floating rate notes due 2016 will be 10.64% for the period from September 30, 2007 to March 30, 2008.
Stelco Announces Details of Proposed Notes Redemption
Sep. 20, 2007 - U. S. Steel specifies that Stelco's floating-rate notes due 2016 are to be redeemed on the effective date of the companies’ proposed arrangement under Section 192 of the Canada Business Corporations Act involving Stelco, U.S. Steel and 1344973 Alberta ULC, an indirect wholly owned subsidiary of U.S. Steel.
ArcelorMittal Confirms Acquisition of Wabush Mines
Sep. 6, 2007 - ArcelorMittal announces that it will exercise its Dofasco subsidiary’s option to acquire the remaining shares of iron ore and pellet producer Wabush Mines from Stelco and Cleveland Cliffs.
Consolidated Thompson Drops Wabush Plans Following Dofasco Decision
Sep. 4, 2007 - Consolidated Thompson says it will not proceed with its purchase of a majority interest in the Wabush Mines Joint Venture following Dofasco’s notification that it will exercise its option to purchase Stelco’s and Cleveland Cliffs’ interests.
U. S. Steel to Acquire Stelco
Aug. 27, 2007 - Amid much market speculation, U. S. Steel announces plans to acquire Stelco for $38.50 (Canadian) per share for an aggregate value of approximately $1.1 billion (U.S.) based on approximately 30 million fully diluted shares.
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