• Auction raises Umicore price for Delphi unit Aug 13, 2007

    A bankruptcy court auction has boosted the sale price almost $20 million to about $75 million for a catalyst business that Delphi Corp., Troy, Mich., had agreed in June to sell to Umicore SA, Brussels.

  • GM to co-develop lithium-ion battery for Volt Aug 13, 2007

    General Motors Corp. has agreed to work with a Massachusetts lithium-ion battery supplier to develop a battery for use in GM’s Chevrolet Volt electric car.

  • CME planning to slice 380 jobs after $11.5B merger with CBOT Aug 13, 2007

    The Chicago Mercantile Exchange (CME) plans to cut 380 jobs after its $11.5-billion tie up with the Chicago Board of Trade (CBOT).

  • Aftershock of credit woes may leave steel investments at risk Aug 10, 2007

    Global stock markets have careened wildly in recent trading, with shares of steel companies often fluctuating more violently than those in other industries.

  • TransCanada forms pipeline partnership with NW Natural Aug 10, 2007

    TransCanada Corp., Calgary, Alberta, is teaming with Northwest Natural Gas Co., Portland, Ore., to build a 110-mile natural gas pipeline from northwestern Oregon to north-central Oregon to serve both Oregon and southwest Washington state.

  • MELTING POT Not dissin' Aug 10, 2007

    Credit Suisse First Boston analyst Bruce Klein raised a chuckle from other conference call participants when he responded to a diatribe by C. Lourenço Gonçalves, chairman, president and chief executive officer of Metals USA Inc., Houston, while talking to investors and analysts about the company's second-quarter results.

  • Ryerson-Harbinger row puts dual plans on table Aug 09, 2007

    Ryerson Inc., Chicago, and hedge fund investor Harbinger Capital Partners have filed competing presentations for shareholders, with each laying out their conflicting views on a deal to take the big service center company private, in addition to Ryerson’s board and the company’s performance.

  • Automakers, union on track to reach deal Aug 09, 2007

    Analysts at an auto industry gathering in northern Michigan said talks between the Big 3 domestic auto manufacturers and the United Auto Workers (UAW) union appear to be on track to reach a deal without a strike or lockout later this summer.

  • Exec at Harbinger blames Ryerson board for failure Aug 08, 2007

    Managers of Ryerson Inc. have continued to fail in a large number of areas and should not be allowed to dictate the terms of taking the company private, an executive of hedge fund investor Harbinger Capital Partners, which is orchestrating a proxy fight against Ryerson’s board, said in an interview.

  • Nymex promotes 3 amid sale talk Aug 08, 2007

    Nymex Holdings Inc., parent company of the New York Mercantile Exchange, has promoted three members of its staff.

  • Iron ore shipments hampered by water levels Aug 08, 2007

    Light loading of ships on the Great Lakes hampered iron ore shipments in June, according to the Lake Carriers’ Association, Cleveland.

  • Denman & Davis sets plate-burn upgrade Aug 07, 2007

    Steel service center Denman & Davis Inc., Clifton, N.J., will replace existing plate-burning capacity at its Clifton facility with two new high-definition plasma torches, and move current plate-burning equipment to plants in Albany, N.Y., and Slatersville, R.I.

  • Marmon/Keystone names account managers Aug 07, 2007

    Tubular and bar products distributor Marmon/Keystone Corp., Butler, Pa., has named Carl L. Wyant account manager at the company’s Seattle branch and Patrick Pigulski account manager at the company’s Southampton, Mass., service center.

  • Cerberus advisor appointed Tower chief exec Aug 07, 2007

    Tower Automotive Inc., Novi, Mich., said Mark Malcolm, who had been lead automotive consultant at its new private equity owner, Cerberus Capital Management LP, for the past 18 months, has been appointed president and chief executive officer, succeeding Kathleen Ligocki.

  • USW vp of human affairs named as Randolph Institute chairman Aug 06, 2007

    Fred Redmond, vice president of human affairs at the United Steelworkers union, has been named chairman of the board of the A. Philip Randolph Institute, a group working for racial equality and economic justice.

  • US metal producers attack energy reform legislation Aug 06, 2007

    The House of Representatives passed an energy bill over the weekend that U.S. steel and aluminum producers said would restrict the supply of metals while increasing costs.

  • Delphi in deal with 4 unions; 1 holding out Aug 06, 2007

    Four unions, including one that last month said it was planning to terminate its contracts with Delphi Corp., Troy, Mich., as a first step toward a possible October strike, have reached tentative agreements with the auto parts maker, leaving the United Steelworkers union as the only holdout.

  • Court signs off on $2.55B investment in auto parts supplier Aug 06, 2007

    A judge has approved a plan for an injection of up to $2.55 billion into automotive parts supplier Delphi Corp., Troy, Mich., by Appaloosa Management LP, Chatham, N.J., and other investors.

  • ThyssenKrupp buys small-orders retailer Aug 03, 2007

    ThyssenKrupp Materials NA Inc., Southfield, Mich., has purchased the assets of OnlineMetals.com, an eight-year-old Internet-based retailer of metals and plastics, in a move that executives said will increase its low-volume commercial customer base and individual consumer sales.

  • Delphi investment receives court’s approval Aug 03, 2007

    A judge has approved a plan for an injection of up to $2.55 billion into automotive parts supplier Delphi Corp., Troy, Mich., by Appaloosa Management LP, Chatham, N.J., and other investors.

  • MELTING POT America's most unwanted? Aug 03, 2007

    Despite all the talk of mergers and acquisitions in the steel industry, Allegheny Technologies Inc. (ATI), Pittsburgh, has mostly been left out of the loop.

  • PLS names vice president of sales Aug 03, 2007

    Shipping specialist Pittsburgh Logistics Systems Inc. (PLS), Rochester, Pa., has appointed Rich Kozak vice president of global sales with responsibility for strategic sales development and product marketing.

  • Sempra Commodities’ net income doubles in qtr. on higher margins Aug 02, 2007

    Sempra Commodities’ earnings more than doubled in the second quarter on improved margins in all its commodity product lines.

  • Presidential power-stripping bills mulled in trade hearing Aug 02, 2007

    The House Ways and Means trade subcommittee held a wide-ranging hearing Thursday on the challenges presented by trade with China.

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