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A month after a bankruptcy court set aside objections from automotive parts maker Dana Corp.’s largest shareholder, Appaloosa Management LP, to approve another investor’s support of a Chapter 11 reorganization plan, Dana has invited Appaloosa to submit its own proposal.
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Nucor-Yamato Steel Co. recently unveiled what was probably the most complicated price realignment this year on wide-flange beams, leaving September transaction tags on many of the bread-and-butter sections at current levels but boosting some of the heavier items by between $5 and $40 per ton.
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Canadian service center company Russel Metals Inc. said a troubled Toronto-based structured finance firm had failed to repay about Canadian $11 million ($10.4 million) in commercial paper when it came due Thursday.
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Is the National Association of Manufacturers (NAM) warming up to Democratic presidential frontrunner Hillary Clinton?
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Parts manufacturer Dura Automotive Systems Inc., Rochester Hills, Mich., has filed a plan of reorganization and a disclosure statement with the U.S. Bankruptcy Court in Wilmington, Del.
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A proxy fight for control of Ryerson Inc.’s board of directors fell far short of the goal of the company’s largest shareholder as other shareholders voted to elect all 11 of Ryerson’s nominees.
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As part of the Chinese government’s drive to curb investment in pollution-intensive industries, Chinese steel and aluminum companies seeking to raise funds on the capital markets must now seek the approval of the country’s environmental watchdog.
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Completion of the Doha Round of world trade talks is not only technically possible but is also a “political must,” according to Pascal Lamy, the World Trade Organization (WTO) director-general.
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The manufacturing industry is showing signs of strength despite a weaker housing market.
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Ryerson Inc. has received another endorsement of its current board against proxy challengers.
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Is China preparing to deploy the economic equivalent of the “nuclear option?”
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United Steelworkers union Local 87 in Dayton, Ohio, reached a tentative labor agreement Friday with Delphi Corp., becoming the last of half a dozen unions that had once threatened possible strike action to settle with the bankrupt auto parts maker.
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It's no surprise that in this year's takeover-crazy steel environment, some rumors never seem to die.
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Steel service center Denman & Davis Inc., Clifton, N.J., has told customers in New England it is adding a truck driver to provide more deliveries in Maine and parts of New Hampshire.
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Ford Motor Co., Dearborn, Mich., has agreed to sell its power transfer unit business and a plant in Nuevo Laredo, Mexico, to Linamar Corp., Guelph, Ontario. Financial terms were not disclosed.
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Two proxy advisory firms have recommended that Ryerson Inc. shareholders vote for a slate of directors nominated by the company, while another firm has recommended that one proxy challenger be given a board seat.
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Samuel Manu-Tech Inc., Toronto, has acquired Northland Stainless Inc., Tomahawk, Wis., for nearly $8.8 million, subject to working capital item adjustments.
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Harbinger Capital Partners and Ryerson Inc. kept up a volley of announcements Wednesday, with each issuing lengthy statements challenging their competing slates of director nominees.
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The top executive of Ryerson Inc., Chicago, has defended his company’s search for a buyer as “extremely thorough,” and said that a proxy challenge had been a catalyst to the effort but was not the only factor in reaching an agreement to be sold to equity management firm Platinum Equity LLC.
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The New York Mercantile Exchange echoed the Chicago Mercantile Exchange Group, saying Wednesday that its trading operations haven’t been jeopardized following news that Sentinel Management Group Inc. has asked regulators for permission to freeze withdrawals from its $1.5-billion fund because of a worldwide credit squeeze.
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Automotive parts manufacturer American Axle & Manufacturing Holdings Inc., Detroit, said it will offer buyouts and early retirement to about 650 employees at a Buffalo, N.Y., plant.
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Trading operations at the Chicago Mercantile Exchange (CME) haven’t been affected by Sentinel Management Group Inc.’s request to regulators to freeze withdrawals from its $1.5-billion fund because of a global credit crunch.
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Automotive supplier Dana Corp., operating under Chapter 11 bankruptcy protection, has been picked to supply propshafts and auxiliary transmission oil coolers for the 2008 Rogue crossover vehicle, which Nissan North America Inc. will begin selling next month.
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Manufacturing associations welcomed the confirmation of William G. (Woody) Sutton to serve as the U.S. Commerce Department’s assistant secretary of Manufacturing and Services, sometimes referred to as the manufacturing “czar.”