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Latest News:
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Wheeling-Pittsburgh and Esmark Amend Merger Agreement
Oct. 24, 2007 - Wheeling-Pittsburgh and Esmark enter into an amendment to their definitive merger agreement to adjust the timing of the put and purchase rights that will be granted to Wheeling-Pittsburgh stockholders in connection with the combination.
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Wheeling-Pittsburgh Reports 2nd Quarter Results
Aug. 13, 2007 - Unplanned outages at the EAF, higher-than-anticipated scrap costs, and weaker-than-expected market conditions contribute to Wheeling-Pittsburgh’s net loss of $41.6 million on net sales of $467.0 million for the quarter ended June 30, 2007.
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ArcelorMittal Announces Sale of Sparrows Point
Aug. 2, 2007 - ArcelorMittal USA enters into an agreement to sell its Sparrows Point facility and related assets to a joint venture group backed by Esmark and Wheeling-Pittsburgh, along with various industry and institutional investors.
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Wheeling Corrugating President Resigns
Jul. 13, 2007 - Steven Sorvold, President of Wheeling Corrugating (an operating division of Wheeling Pittsburgh) has resigned from the company, effective July 31, 2007.
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Prescription Benefits Improved for Wheeling-Pitt Retirees, Spouses
Jun. 22, 2007 - The United Steelworkers announce a benefit increase for Medicare-eligible Wheeling-Pittsburgh Steel retirees who lost health coverage when the company reorganized under Chapter 11 and subsequently enrolled in the Wheeling-Pitt Voluntary Employees’ Beneficiary Association’s Advantra programs.
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Wheeling-Pittsburgh CEO to Retire
Mar. 28, 2007 - Wheeling-Pittsburgh Steel announced that Harry L. Page, prior President and Chief Operating Officer and a 39-year steel industry veteran, will retire, effective April 1, 2007.
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Wheeling-Pittsburgh Reports 2006 Results
Mar. 19, 2007 - March 19, 2007 — Wheeling-Pittsburgh Corp., the holding company of Wheeling-Pittsburgh Steel Corp., reported a net loss of $18.1 million on net sales of $357.1 million for the fourth quarter,
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Esmark, Arcelor Mittal Enter MOU for Weirton Steel Assets
Jan. 22, 2007 - Esmark Inc. and Arcelor Mittal confirmed they have entered into a Memorandum of Understanding in which Esmark will acquire the hot roll, cold roll, coated and tin assets of Arcelor Mittal’s Weirton, W.Va., steel plant. The MOU contemplates execution of definitive transaction agreements by February 2, 2007 when the MOU terminates.
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Wheeling-Pittsburgh Files Shelf Registration Statement
Dec. 22, 2005 - Wheeling-Pittsburgh Corp. announced that it has filed a shelf registration statement with the Securities and Exchange Commission. This registration statement, upon being declared effective by the SEC, will allow the company to sell up to $125 million, in the aggregate, of its common stock, preferred stock, stock subscription rights and debt securities.
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Paulson Announces Slate for Algoma Shareholder Meeting
Dec. 2, 2005 - Paulson & Co. Inc., a major shareholder of Algoma Steel Inc., has announced its nominees for the Algoma board of directors. In November, Paulson had requisitioned a special shareholder meeting to replace a majority of current Algoma directors.
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Wheeling-Pittsburgh Reports 3rd Quarter Results
Nov. 9, 2005 - Wheeling-Pittsburgh Corp., the holding company of Wheeling-Pittsburgh Steel Corp., reported a net loss of $21.1 million on revenues of $374.9 million for the quarter ended September 30, 2005.
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Benefits Increase for Wheeling-Pitt Retirees, Spouses
Nov. 7, 2005 - The United Steelworkers (USW) announced benefit increases for Wheeling-Pittsburgh Steel retirees who lost their health coverage when the company reorganized under Chapter 11 Bankruptcy Protection and have enrolled in the Wheeling-Pitt Voluntary Employees' Beneficiary Association (VEBA). The Union has also negotiated an increase in payments made by Wheeling-Pitt to surviving spouses of employees who retired prior to 1974 to $1300 and $800 yearly.
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Ohio Steel Producers Report First Half Results
Oct. 4, 2005 - Ohio steelmakers posted moderately strong production and shipping figures for the first half of 2005, even as the market struggled to emerge from an inventory correction that began before the end of 2004.
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Wheeling-Pittsburgh Steel Updates Third Quarter Outlook
Oct. 3, 2005 - Wheeling-Pittsburgh Steel Corp. announced that it expects operating income for the third quarter to be more than $20 million lower than previously expected. This is primarily due to greater than anticipated increases in scrap costs in the third quarter, as well as lower selling prices. Third quarter shipments are expected to be 550,000 tons (up 25,000 tons), and production is expected to be 570,000 tons (30,000 tons lower).
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Wheeling-Pittsburgh Reports 2nd Quarter Results
Aug. 10, 2005 - Wheeling-Pittsburgh Corp., the holding company of Wheeling-Pittsburgh Steel Corp., reported net income of $2.6 million on revenues of $415.2 million for the quarter ended June 30, 2005.
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Wheeling-Pittsburgh Revises 2nd Quarter Expectations
Jun. 28, 2005 - Continued softness in the flat rolled carbon sheet market has prompted Wheeling-Pittsburgh Corp. to revise second quarter shipment expectations from 569,000 to 545,000 tons, and expected production from 654,000 to 600,000 tons.
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Wheeling-Pittsburgh Announces 10b5-1 Trading Plans
Jun. 16, 2005 - Wheeling-Pittsburgh Corp.’s Chief Executive Officer and President have entered into 10b5-1 plans in order to sell a portion of their Restricted Stock, as have each of the company’s Vice Presidents.
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Wheeling-Pittsburgh Announces Management Promotions
May 18, 2005 - Wheeling-Pittsburgh Steel Corp. announced the promotion of Ron Shoemaker, who had been Manager of Engineering, EAF Project, to the newly created position of General Manager, Engineering & Environmental Control. In his new position, Shoemaker will report to Wheeling-Pittsburgh Steel President, Harry Page.
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Wheeling-Pittsburgh Steel to Idle Historic No. 1 Blast Furnace
May 4, 2005 - Wheeling-Pittsburgh Steel Corp. announced that it will permanently idle its No. 1 Blast Furnace on Thursday, May 5, 2005. The shutdown will end more than 100 years of service by one of the oldest blast furnaces running in the United States.
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Wheeling-Pittsburgh Names New President and COO
Mar. 30, 2005 - Wheeling-Pittsburgh Steel Corp. announced that Harry L. Page, 58, will assume the new position of President and Chief Operating Officer, effective April 1, 2005. James G. Bradley will continue as Chairman of the Board and CEO.
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Wheeling-Pittsburgh Announces 2004 Results
Mar. 15, 2005 - Wheeling-Pittsburgh Corp., the holding company of Wheeling-Pittsburgh Steel Corp., reported net income of $6.4 million on net sales of $373.7 million for the fourth quarter and net income of $62.5 million on net sales of $1.4 billion for the year ended December 31, 2004.
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WHX Bankruptcy Should Not Impact Wheeling-Pitt Benefits
Mar. 14, 2005 - The United Steelworkers of America (USWA) announced that the Union does not expect that the benefits current members or retirees receive from Wheeling-Pittsburgh Steel will be affected as a result of WHX Corp.’s filing for Chapter 11 Bankruptcy Protection.
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Wheeling-Pittsburgh Adopts Shareholder Rights Plan
Feb. 17, 2005 - Wheeling-Pittsburgh Corp.’s Board of Directors has adopted a shareholder rights plan that is primarily designed to protect the company's net operating loss carryforwards (NOLs) for tax purposes.
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Wheeling-Pittsburgh Updates Financial Expectations
Feb. 15, 2005 - Wheeling-Pittsburgh Corp. has provided an update on operational and financial expectations in light of recently quantified effects of the December 2004 ductwork collapse at the company’s basic oxygen furnace (BOF).
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Wheeling-Pitt Commences Efficiency-Based Technology Initiatives
Jan. 13, 2005 - Wheeling-Pittsburgh Steel Corp. announced recent technology initiatives designed to drive business efficiency and enhanced customer service. The company currently uses solutions from i2 Technologies, Inc., and recently began implementing solutions from Steelman Software Solutions Inc. These technology upgrades to the company's computerized planning, order management, mill scheduling and production tracking tools are designed to help gain a competitive edge.
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Wheeling-Pittsburgh and Severstal North America form Coke Joint Venture
Dec. 29, 2004 - Wheeling-Pittsburgh Steel Corp. and Severstal North America, Inc. signed a non-binding letter of intent to create a joint venture involving Wheeling-Pittsburgh Steel's Coke Plant, located in Follansbee, W.Va. The venture would ultimately provide for each party to take 50% of the coke produced by the joint venture.
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Wheeling-Pittsburgh Steel Restarts Basic Oxygen Furnace
Dec. 23, 2004 - Wheeling-Pittsburgh Steel Corp. restarted production from its Basic Oxygen Furnace (BOF) facility Wednesday, Dec. 22. The BOF had been down for about 12 days following a collapse of ductwork and associated equipment at the BOF facility.
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Wheeling-Pittsburgh Makes First Heat from Continuous EAF
Nov. 29, 2004 - Wheeling-Pittsburgh Steel Corp. completed the first heat in its continuous electric arc furnace (EAF) at approximately 11:50 a.m., Sunday, Nov. 28, less than 16 months after the project was authorized. The EAF is located at the company's Mingo Junction, Ohio, Plant.
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Wheeling-Pittsburgh Reports 3rd Quarter Results
Nov. 9, 2004 - Wheeling-Pittsburgh Corp., the holding company of Wheeling-Pittsburgh Steel Corp., reported net income of $35.6 million on net sales of $401.8 million for the quarter ended September 30, 2004.
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Wheeling-Pittsburgh Makes First Heat in New LMF
Oct. 5, 2004 - Wheeling-Pittsburgh Steel Corp. announced that its ladle metallurgy furnace (LMF) completed its first heat on Friday, Oct. 1, just 14 months after the project was authorized. The LMF is part of Wheeling-Pittsburgh’s new Consteel(R) Electric Arc Furnace system.
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Wheeling-Pittsburgh Closes Common Stock Offering
Sep. 23, 2004 - Wheeling-Pittsburgh Corp. recently closed its public offering of 3,650,000 shares of common stock, including 477,602 shares offered on behalf of certain selling shareholders, at a public offering price of $29.00 per share. The underwriters exercised their option to purchase 547,500 additional primary shares of common stock to cover over-allotments, which also closed on September 21, 2004.
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Wheeling-Pittsburgh Announces Pricing of Common Stock Offering
Sep. 17, 2004 - Wheeling-Pittsburgh Corp. announced the pricing of a public offering of 3,650,000 shares of common stock, including 477,602 shares offered on behalf of certain selling shareholders, at a public offering price of $29.00 per share. Wheeling-Pittsburgh has granted the underwriters a 30-day option to purchase up to 547,500 additional primary shares of common stock to cover over-allotments, if any.
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Wheeling-Pittsburgh Reports 2nd Quarter Income
Aug. 10, 2004 - Wheeling-Pittsburgh Corp., the holding company of Wheeling-Pittsburgh Steel Corp., reported net income of $27.1 million on net sales of $356.1 million for the quarter ended June 30, 2004.
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Latest Update on Wheeling Pittsburgh EAF Construction
Jul. 13, 2004 - Wheeling Pittsburgh Steel Corp. has updated its website with information and photos about the construction and future operations of the electric arc furnace that is under construction at its Mingo Junction plant.
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