Latest News

Updated March 11, 2010

ArcelorMittal’s 2nd-Half Rebound
Leads to Profitable 2009
SSAB Proceeding with
QT Line in Alabama
Canadian Steel Shipments
Rise Briskly in January
Mill Steel Expands Reach South
with Coated Steel Acquisition
Castle Opens New
Edmonton Facility
Future Metals Opens New
Connecticut Service Center

ArcelorMittal’s 2nd-Half Rebound
Leads to Profitable 2009
ArcelorMittal rebounded from the difficult market conditions early in the year to post consecutive profitable quarters in the second half. The Luxembourg-based steelmaker reported net income of $1.1 billion during the fourth quarter, an improvement from the $903 million in the third quarter and a dramatic turnaround from the $2.6 billion lost during the fourth quarter of 2008.

Its performance in the final two quarters allowed the world’s largest steelmaker to report a profitable year at $118 million in income.

ArcelorMittal reported sales of $18.6 billion during the fourth quarter, a slight improvement from the $16.1 billion during the previous quarter, but behind the $22.1 billion during the final three months of the previous year.

Fourth-quarter shipments of 71.1 million tons represented a 10 percent improvement from the previous quarter. Additionally, capacity utilization improved to 70 percent during the quarter.

“In a very difficult environment, ArcelorMittal has succeeded in reducing its cost base substantially and significantly strengthening the balance sheet. We therefore start the year in a good position to benefit from the progressive, albeit slow, recovery that is under way,” said Lakshmi Mittal, chairman and CEO. “Although 2010 will continue to be challenging, we are now increasing capital expenditure to take advantage of selected growth opportunities as demand improves.”

Crude steel production by the company’s Flat Carbon Americas division reached 5.4 million tons for the three months ended Dec. 31, an increase of 25 percent compared to 4.3 million tons for the previous quarter. Sales in the segment were $4.1 billion for the final quarter, an increase of 24 percent compared to the third quarter.

Crude steel production from ArcelorMittal’s Long Carbon Americas and Europe division reached 5.4 million tons, an increase of 13 percent from the third quarter. Sales totaled $4.6 billion, up 6 percent from the prior quarter, due primarily to higher steel shipments and a marginal improvement in average steel selling prices.

As a result of the improved demand in both North American and European steel sectors, the company has restarted certain steel production facilities during the quarter. In late January, ArcelorMittal announced plans to restart the blast furnace at its East Chicago, Ind., facility.

SSAB Proceeding with
QT Line in Alabama
SSAB will move ahead with plans to construct a new advanced line for quenched and tempered steel plate at its Mobile, Ala., facility, in the next two years. It is one of two major projects planned by the Swedish steelmaker.

The QT line in Mobile is part of a major investment program announced in August 2008, and will increase the company’s capacity for QT plate by approximately 200,000 tons.

“We are broadening our product and service offering for the North American domestic market and creating conditions for meeting the needs of SSAB’s global customers,” says David Britten, head of SSAB Americas.

Additionally, the company will install a finishing line at SSAB’s plate center in Kunshan, China. Altogether, the company will invest $300 million in the two projects.

The new quenching line in Mobile is expected to begin production during the first half of 2012. The finishing line in Kunshan will start up in the first half of 2011.

MSCI
Canadian Steel Shipments
Rise Briskly in January
January shipments of steel products from Canadian service centers were 9.2 percent higher than in the same month a year ago, according to the Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. Also rising were January shipments of aluminum from U.S. metal centers—up 2.9 percent from January 2009.

Steel product activity
Steel shipments from U.S. metals centers of about 2.58 million tons were 0.9 percent below year-ago levels. Inventories at the end of January of about 6.26 million tons were 26.2 percent lower than those of January 2009 and, at January shipping rates, equaled a lean, 2.4-month supply.

Shipments of steel from Canadian service centers totaled 444,400 tons during January. Canadian inventories at the end of the month of 1.18 million tons were equal to a 2.7-month supply.

Aluminum product activity
U.S. service centers shipped 93,600 tons of aluminum in January and ended the month with 254,400 tons of the metal on hand, equal to a 2.7-month supply. Service centers in Canada shipped 10,600 tons of aluminum during the month, about 5.7 percent lower than a year ago. Month-end aluminum inventories in Canada of 30,300 tons were 9.2 percent lower than a year ago and equal to a 2.9-month supply.

Mill Steel Expands Reach South
with Coated Steel Acquisition
Mill Steel Co., Grand Rapids, Mich., has expanded its product breadth and geographic presence with the acquisition of Coated Steel Corp., a Birmingham, Ala.-based supplier of acrylic and prepainted galvalume and galvanized flat-rolled steel. Terms of the deal, which closed in February, were not disclosed.

Mill Steel will continue operating the former assets as Coated Steel Co., and the company's leadership team will remain in place. Mill Steel expects to create as many as 30 new sales and production jobs at its 120,000-square-foot Birmingham processing facility during the next year. It also plans to increase its existing Birmingham production capability in the next few months with the installation of a new 72-inch slitter and packaging line.

Chairman and CEO David S. Samrick said the acquisition is a mutually beneficial transaction for Mill Steel and the customers of CSC. "We are excited to add the former management of CSC to our team, and look forward to working with them to continue building our reputation for delivering first-rate customer service and quality steel products across the United States, Canada and Mexico.”

The new Birmingham location will allow Mill Steel to enhance its service to a growing base of customers across a broad range of markets in the southeastern U.S. and Mexico, as well as boost its technical support to customers in the regions. The acquisition also ensures that CSC will be able to support larger customers by leveraging Mill Steel’s size and service capabilities, say company officials.

Castle Opens New
Edmonton Facility
A.M. Castle & Co., Franklin, Park, Ill., has opened its Canadian subsidiary’s newest facility in Edmonton, Alberta. The new facility was built to support Castle’s Canadian oil and gas business and replaces the facility the company had occupied since 1996.

“We are very excited about this new facility and believe that it will help us better service our Canadian oil and gas customers,” says Michael Goldberg, CEO and president of A.M. Castle & Co. “We have had a long-standing business relationship with the Canadian oil and gas industry and despite the current tough economic times the Canadian market remains a critical piece of our global oil and gas portfolio. We believe this investment is not only the right investment for today—but for the future.”

The new facility in Edmonton is approximately 50,000 square feet in size and provides a broad range of services including metal distribution and processing. The facility has been fully operational since December.

Future Metals Opens New
Connecticut Service Center
Future Metals, a Marmon/Keystone affiliate based in Tamarac, Fla., has started up its newest service center in Wallingford, Conn. The facility became operational this month.

The new facility will offer more inventory capacity, plus additional value-added service capabilities for the company’s customer base in New England and Eastern Canada. Future Metals supplies aircraft tubing and other metals to the aerospace industry.

“Our customers want quicker deliveries and additional services,” says Frank Ruggiero, Future Metals’ vice president of sales and marketing. “This new service center will offer them both.”

In an unrelated move, parent company Marmon/Keystone will close its warehouse operations in Bolingbrook, Ill. The company will continue serving customers in the Chicago area and elsewhere through its new facility on 22 acres in Spring Valley, Ill., located along Interstate 80 just west of the I-39 interchange.

The new facility is expected to be operational near the end of the third quarter or early in the fourth quarter. The current building and land in Bolingbrook will be sold, but management, administrative and sales personnel will remain in the existing offices. The company may pursue future relocation to an office complex in or near Bolingbrook.



	Updated March 11, 2010 ArcelorMittal’s 2nd-Half Rebound Leads to Profitable 2009 SSAB Proceeding with QT Line in Alabama Canadian Steel Shipments Rise Briskly in January Mill Steel Expands Reach South with Coated Steel Acquisition Castle Opens New Edmonton Facility Future Metals Opens New Connecticut Service Center ArcelorMittal’s 2nd-Half Rebound Leads to Profitable 2009 ArcelorMittal rebounded from the difficult market conditions early in the year to post consecutive profitable quarters in the second half. The Luxembourg-based steelmaker reported net income of $1.1 billion during the fourth quarter, an improvement from the $903 million in the third quarter and a dramatic turnaround from the $2.6 billion lost during the fourth quarter of 2008. Its performance in the final two quarters allowed the world’s largest steelmaker to report a profitable year at $118 million in income. ArcelorMittal reported sales of $18.6 billion during the fourth quarter, a slight improvement from the $16.1 billion during the previous quarter, but behind the $22.1 billion during the final three months of the previous year. Fourth-quarter shipments of 71.1 million tons represented a 10 percent improvement from the previous quarter. Additionally, capacity utilization improved to 70 percent during the quarter. “In a very difficult environment, ArcelorMittal has succeeded in reducing its cost base substantially and significantly strengthening the balance sheet. We therefore start the year in a good position to benefit from the progressive, albeit slow, recovery that is under way,” said Lakshmi Mittal, chairman and CEO. “Although 2010 will continue to be challenging, we are now increasing capital expenditure to take advantage of selected growth opportunities as demand improves.” Crude steel production by the company’s Flat Carbon Americas division reached 5.4 million tons for the three months ended Dec. 31, an increase of 25 percent compared to 4.3 million tons for the previous quarter. Sales in the segment were $4.1 billion for the final quarter, an increase of 24 percent compared to the third quarter. Crude steel production from ArcelorMittal’s Long Carbon Americas and Europe division reached 5.4 million tons, an increase of 13 percent from the third quarter. Sales totaled $4.6 billion, up 6 percent from the prior quarter, due primarily to higher steel shipments and a marginal improvement in average steel selling prices. As a result of the improved demand in both North American and European steel sectors, the company has restarted certain steel production facilities during the quarter. In late January, ArcelorMittal announced plans to restart the blast furnace at its East Chicago, Ind., facility. SSAB Proceeding with QT Line in Alabama SSAB will move ahead with plans to construct a new advanced line for quenched and tempered steel plate at its Mobile, Ala., facility, in the next two years. It is one of two major projects planned by the Swedish steelmaker. The QT line in Mobile is part of a major investment program announced in August 2008, and will increase the company’s capacity for QT plate by approximately 200,000 tons. “We are broadening our product and service offering for the North American domestic market and creating conditions for meeting the needs of SSAB’s global customers,” says David Britten, head of SSAB Americas. Additionally, the company will install a finishing line at SSAB’s plate center in Kunshan, China. Altogether, the company will invest $300 million in the two projects. The new quenching line in Mobile is expected to begin production during the first half of 2012. The finishing line in Kunshan will start up in the first half of 2011. MSCI Canadian Steel Shipments Rise Briskly in January January shipments of steel products from Canadian service centers were 9.2 percent higher than in the same month a year ago, according to the Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. Also rising were January shipments of aluminum from U.S. metal centers—up 2.9 percent from January 2009. Steel product activity Steel shipments from U.S. metals centers of about 2.58 million tons were 0.9 percent below year-ago levels. Inventories at the end of January of about 6.26 million tons were 26.2 percent lower than those of January 2009 and, at January shipping rates, equaled a lean, 2.4-month supply. Shipments of steel from Canadian service centers totaled 444,400 tons during January. Canadian inventories at the end of the month of 1.18 million tons were equal to a 2.7-month supply. Aluminum product activity U.S. service centers shipped 93,600 tons of aluminum in January and ended the month with 254,400 tons of the metal on hand, equal to a 2.7-month supply. Service centers in Canada shipped 10,600 tons of aluminum during the month, about 5.7 percent lower than a year ago. Month-end aluminum inventories in Canada of 30,300 tons were 9.2 percent lower than a year ago and equal to a 2.9-month supply. Mill Steel Expands Reach South with Coated Steel Acquisition Mill Steel Co., Grand Rapids, Mich., has expanded its product breadth and geographic presence with the acquisition of Coated Steel Corp., a Birmingham, Ala.-based supplier of acrylic and prepainted galvalume and galvanized flat-rolled steel. Terms of the deal, which closed in February, were not disclosed. Mill Steel will continue operating the former assets as Coated Steel Co., and the company's leadership team will remain in place. Mill Steel expects to create as many as 30 new sales and production jobs at its 120,000-square-foot Birmingham processing facility during the next year. It also plans to increase its existing Birmingham production capability in the next few months with the installation of a new 72-inch slitter and packaging line. Chairman and CEO David S. Samrick said the acquisition is a mutually beneficial transaction for Mill Steel and the customers of CSC. "We are excited to add the former management of CSC to our team, and look forward to working with them to continue building our reputation for delivering first-rate customer service and quality steel products across the United States, Canada and Mexico.” The new Birmingham location will allow Mill Steel to enhance its service to a growing base of customers across a broad range of markets in the southeastern U.S. and Mexico, as well as boost its technical support to customers in the regions. The acquisition also ensures that CSC will be able to support larger customers by leveraging Mill Steel’s size and service capabilities, say company officials. Castle Opens New Edmonton Facility A.M. Castle & Co., Franklin, Park, Ill., has opened its Canadian subsidiary’s newest facility in Edmonton, Alberta. The new facility was built to support Castle’s Canadian oil and gas business and replaces the facility the company had occupied since 1996. “We are very excited about this new facility and believe that it will help us better service our Canadian oil and gas customers,” says Michael Goldberg, CEO and president of A.M. Castle & Co. “We have had a long-standing business relationship with the Canadian oil and gas industry and despite the current tough economic times the Canadian market remains a critical piece of our global oil and gas portfolio. We believe this investment is not only the right investment for today—but for the future.” The new facility in Edmonton is approximately 50,000 square feet in size and provides a broad range of services including metal distribution and processing. The facility has been fully operational since December. Future Metals Opens New Connecticut Service Center Future Metals, a Marmon/Keystone affiliate based in Tamarac, Fla., has started up its newest service center in Wallingford, Conn. The facility became operational this month. The new facility will offer more inventory capacity, plus additional value-added service capabilities for the company’s customer base in New England and Eastern Canada. Future Metals supplies aircraft tubing and other metals to the aerospace industry. “Our customers want quicker deliveries and additional services,” says Frank Ruggiero, Future Metals’ vice president of sales and marketing. “This new service center will offer them both.” In an unrelated move, parent company Marmon/Keystone will close its warehouse operations in Bolingbrook, Ill. The company will continue serving customers in the Chicago area and elsewhere through its new facility on 22 acres in Spring Valley, Ill., located along Interstate 80 just west of the I-39 interchange. The new facility is expected to be operational near the end of the third quarter or early in the fourth quarter. The current building and land in Bolingbrook will be sold, but management, administrative and sales personnel will remain in the existing offices. The company may pursue future relocation to an office complex in or near Bolingbrook.