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Ward J. “Tim” Timken has stepped down as president, CEO and chairman of the Canton, Ohio-based steelmaker. Terry L. Dunlap has been appointed interim president and CEO and John P. Reilly, lead director of the board, will assume the role of chairman.
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Liberty Steel USA will invest $25 million to build an electric arc furnace at the company’s Georgetown, S.C., facility. The move will boost output at the mill, which re-opened in 2018.
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The proposed acquisition of Aleris, Cleveland, by Novelis Inc. has received approval from the European Commission. The approval is conditioned upon the sale of Atlanta-based Aleris' plant in Duffel, Belgium, which produces aluminum for the automotive and specialties markets.
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U.S. Steel Corp. will purchase minority ownership in Big River Steel. The Pittsburgh-based steelmaker will pay $700 million to purchase 49.9 percent ownership in the steel production and recycling company. U.S. Steel has an option to purchase the remaining shares within the next four years.
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Steelmaker Bayou Steel, LaPlace, La., has filed for Chapter 11 bankruptcy protection. The company is shuttering its production facility in Louisiana, and a second site in Harriman, Tenn.
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AZZ Inc., Fort Worth, Texas, has acquired Preferred Industries, a privately held powder coating company based in the Dallas-Fort Worth area. Preferred provides powder and e-coating services to the automotive, HVAC, marine, transportation, medical, industrial, and plastics industries.
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One of the largest solar facilities in North America will be built at EVRAZ North America’s facility in Pueblo, Colo. EVRAZ reached an agreement with Xcel Energy and Lightsource BP to develop the 240-megawatt solar facility.
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Dewalt has engineered a brand new product line of Band Saw Blades and Saw Service of Washington, Inc. is launching DeWaltBandSawBlades.com to the public. SSoW is now carrying all commonly used TPIs, half-inch through 1-1/2 inch, with superior M42 high-speed steel edged blades to increase heat and wear resistance.
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TRUMPF, Farmington, Conn., has opened a Technology Center in Costa, Mesa, Calif. The 20,000-square-foot facility serves as a machine training and demonstration center for the company’s Western Region customers.
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Nucor Chairman and CEO John Ferriola will retire from Nucor Corp., Charlotte, at the end of the year. Leon J. Topalian has been chosen to replace him as president and CEO.
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