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Daily news and top headlines for manufacturing professionals

Russia's Severstal Cranks Up Pitch For Esmark

June 19, 2008 12:30 pm | News | Comments

Severstal's $670 million offer has the support of the United Steelworkers union.

Esmark, USW Head To Arbitration Over Sale

June 18, 2008 6:50 am | News | Comments

Grievances have been filed by both Esmark and the union over the proposed sale to India's Essar Steel Holdings.

Severstal Criticizes Esmark’s Tactic To Avoid Takeover

June 17, 2008 6:00 am | News | Comments

Russian steelmaker says it's disappointed in a tactic being used by West Virginia-based Esmark to stave off a $650 million takeover bid.

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Arcelor Buys Bayou Steel For $475 Million

June 16, 2008 7:25 am | News | Comments

World's largest steelmaker said it will buy Louisiana's Bayou Steel for $475 million and had increased its stake in the Turkish steel company Erdemir to 25 percent.

Brazil Fines Steel Companies $250M

June 12, 2008 12:10 pm | by Marco Sibaja, Associated Press Writer | News | Comments

Steel companies caught using charcoal made from illegally logged forests face $250 million in fines and must replant about 27,181 acres of forest.

Esmark Rejects Russian Takeover Bid

June 12, 2008 12:00 pm | by Vicki Smith, Associated Press Writer | News | Comments

Steel producer and distributor rejected a $670 million takeover offer from Russia's OAO Severstal, calling the bid inadequate and inferior.

Northwest Pipe Plans New Facility

June 12, 2008 6:26 am | News | Comments

Welded steel pipe maker said it will build a new tubular products pipe manufacturing facility in the Houston area.

Merger Could Create Chinese Steel Powerhouse

June 12, 2008 5:12 am | News | Comments

Tangshan Iron & Steel and rival Handan Iron & Steel have begun talks to combine operations in a deal that would create one of China's biggest steelmakers.

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Essar Raises Esmark Offer

June 11, 2008 6:35 am | News | Comments

India's Essar Steel Holdings has raised its offer for Esmark Inc. by $80 million, which puts the value of the deal at approximately $750 million.

Violent Protest At Indian Steel Plant Injures 15

June 11, 2008 5:55 am | News | Comments

Police used batons and tear gas to disperse angry villagers trying to storm a steel plant in eastern India in a protest over land compensation, officials said Wednesday.

Kazakhstan Increases Role In Country’s Metals

June 10, 2008 7:40 am | by Peter Leonard, Associated Press Writer | News | Comments

Prime Minister's office said it has become a major stake-holder in the mineral-rich country's two biggest metal companies after a share swap deal.

Sinosteel Purchases 40 Percent Of Australia's Midwest

June 6, 2008 5:03 am | News | Comments

China's Sinosteel increased its stake in Australian miner Midwest Corp., increasing its chances of spoiling a rival bid for Midwest from Murchison Metals.

China's Sinosteel Boosts Midwest Stake

June 4, 2008 5:06 am | News | Comments

Chinese metals trader raised its stake in Australian iron ore miner and developer Midwest Corp. to 28.4 percent, from 19.9 percent.

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Steelmakers Try To Block BHP Billiton Bid

May 30, 2008 5:45 am | by Aoife White, AP Business Writer | News | Comments

European steelmakers called for EU regulators to block BHP Billiton Ltd's takeover of mining rival Rio Tinto PLC, saying the deal would allow iron giant to fix prices.

Striking Steelworkers Consider Latrobe's Offer

May 22, 2008 6:15 am | News | Comments

Latrobe Specialty Steel workers are discussing the company's offer of $1.70 in hourly raises over three years as their strike enters its third week.

ArcelorMittal Buys Stake In Macarthur Coal

May 21, 2008 5:28 am | News | Comments

World's largest steelmaker bought a 14.9 percent stake in the miner for $606 million and opened discussions about another transaction.

Beaird Co. Closes Louisiana Plant, Idles Hundreds

May 20, 2008 5:40 am | News | Comments

Company president said the temporary shutdown that has idled the metal fabricating plant and its 427 workers would last no longer than June 1.

Nucor Considering Louisiana For New Plant

May 15, 2008 6:47 am | by Alan Sayre, AP Business Writer | News | Comments

Steelmaker has chosen a tract in southeastern Louisiana as the only possible U.S. site for a $2 billion iron-making plant that would create 500 jobs.

Latrobe Specialty Steel To Resume Talks With Union

May 14, 2008 7:00 am | News | Comments

Steel maker scheduled to resume contract talks on Thursday with United Steelworkers Local 1537 members for the first time since the workers went on strike May 1.

Nucor To Form Joint Venture With Italy's Duferco

May 14, 2008 6:25 am | News | Comments

Steel maker and scrap metal recycler is forming a joint venture with Italy's Duferco S.A. to produce steel beams that will be sold in Europe and North Africa.

BHP Billiton, Rio Tinto Shares Rise On Buyout Rumors

May 14, 2008 5:33 am | News | Comments

Shares of BHP Billiton and Rio Tinto surged as fresh rumors swirled around the companies linked by what could be the largest takeover ever in the mining sector.

Ironworkers' Pension Fund Sues Alcoa Over Bribery

May 9, 2008 5:45 am | by Daniel Lovering, AP Business Writer | News | Comments

Aluminum maker and its board of directors were sued over a purported scheme to bribe officials in the Persian Gulf country of Bahrain.

EU Probes China, Moldova And Turkey Steel Rod Imports

May 8, 2008 5:29 am | by Aoife White, AP Business Writer | News | Comments

European Union to investigate whether China, Moldova and Turkey are illegally selling steel wire rod at below-cost prices that damage European manufacturers.

Essar To Get $20 Million If Esmark Deal Falls Through

May 7, 2008 11:25 am | News | Comments

Steelmaker and distributor Esmark has agreed to pay India's Essar Steel Holdings a $20.5 million fee if Essar's proposed $670 million buyout offer fails.

Congress Mulls Making Pennies, Nickels From Steel

May 7, 2008 5:15 am | by Laurie Kellman, Associated Press Writer | News | Comments

Surging prices for copper, zinc and nickel have some in Congress trying to bring back the steel-made pennies of World War II, and maybe using steel for the 5-cent nickels, as well.

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