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Precision Castparts Corp. (PCC) is looking for strong aerospace-related growth to kick in during the second half of its current fiscal year despite a 7.3-percent decline in net income for the fourth quarter of its prior fiscal year and some continuing “challenges” such as higher metal costs.
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Restocking hasn’t yet started in the automotive and aerospace industries even though inventory levels are extremely low, delegates at the Institute of Scrap Recycling Industries (ISRI) convention in San Diego heard.
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Automotive sales for the top seven U.S. brands were disappointing in April as volumes reversed course to reach 826,170 units, according to an AMM analysis.
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Steel piling and carbon steel pipe distributor JD Fields & Co. Inc. has spent $4 million to buy a 40-acre site at which it will combine three operations into one.
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A.M. Castle & Co.’s top executive expects the company to return to profitability in the second half of 2010, with metals prices forecast to continue rising at least through the first half of the year.
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A.M. Castle & Co. fell into the red in the first quarter, posting a net loss of more than $4.6 million in contrast to net income of $480,000 in the same period last year on sales that declined 11.6 percent to $223 million from $252.2 million.
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Whirlpool Corp.’s first-quarter net income more than doubled to $164 million on sales that rose 19.7 percent to $4.27 billion, leading the company to increase its full-year earnings outlook.
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A southern steel port suffered extensive damage in severe spring weather, including several tornadoes, that pounded the region during the weekend, although the steel industry largely was spared.
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Johnson Controls Inc. (JCI) has received the final permitting for a new battery recycling center slated for Florence, S.C., as it looks to boost its lead recycling capacity.
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BHP Billiton may have violated anti-corruption laws on some of its mineral exploration projects.
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Hopes that the Boeing 787 Dreamliner will meet its delivery target increased this week after Boeing Co.’s top executive said the test flight program hasn’t met any significant hitches.
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The government has been conducting “a war on free enterprise,” according to Bill Jones, vice chairman of O’Neal Industries Inc. and chairman of the Metals Service Center Institute (MSCI).
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Paragon Steel is beefing up its sales team.
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Ryerson Holding Corp. is looking to raise $372 million in an initial public offering, according to a company filing with the U.S. Securities and Exchange Commission.
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Even as it awaits a turnaround in its historically strongest market—jet engines—Ladish Co.’s first-quarter net income more than quadrupled, helped by general aerospace, the industrial capital equipment market and higher scrap prices.
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General economic activity will remain steady or grow during the next three months, according to members of the Precision Metalforming Association (PMA), but some companies have seen in mid-April what they hope is a brief lull.
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At least part of the titanium market is already concerned about availability, despite a leading analyst’s assurance at AMM’s 4th Annual Aerospace Materials Conference that a sharp rise in titanium demand over the next five years is unlikely to bring a serious shortfall.
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A congresswoman is calling for Illinois locks connected to the Great Lakes to remain open despite the threat from Asian carp.
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Volumes from U.S. flag cargoes carried on the Great Lakes quadrupled in March thanks to improved demand, coupled with better ice breaking resources.
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Worthington Industries Inc., which completed its senior note offering Tuesday, raising $150 million, has received an upgrade from Standard & Poor’s Ratings Service.
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Given the high barriers to entry, the 10 largest global automakers—currently accounting for more than 77 percent of worldwide production—are likely to hold on to their market share and even grow their shares during the next decade, according to a new report by Zacks Equity Research.
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Distributor, processor and metal framing manufacturer Worthington Industries Inc. intends to offer $150 million in senior notes due 2020, with the proceeds to be used to repay a portion of outstanding borrowings under its revolving credit facility.
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Greenbrier Cos. is bringing some mothballed North American capacity back online in an apparent sign of an improving railcar manufacturing outlook.
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Boeing Co.’s second final assembly facility for its new 787 Dreamliner is “taking shape” in North Charleston, S.C., as it moves toward startup next year, the company said.