Steel news of the week - Americas
New contract for Mittal iron range workers
After 19 months of negotiations, the United Steelworkers of America (USWA) has agreed on a new labor contract covering 5100 hourly workers at two Mittal Steel USA plants in Virginia and Indiana.
Three hundred of these employees work on the Iron Range at the companys Minorca Mine in Virginia.
The Minorca Mines Local 6115 USWA chapter president Marty Henry says that pensions and health benefits are retained under the new contract, and wages will increase. The number of job classifications, however, will be reduced to five from about 30.
(The reduction of job classes) is kind of a huge thing, but thats the pattern to offer flexibility to the work force, Mr. Henry said.
Schnitzer Steel acquires auto recycling business
Schnitzer Steel Industries Inc announced that its subsidiary, Pick-N-Pull Auto Dismantlers, has acquired auto dismantling and recycling business GreenLeaf Auto Recyclers LLC.
Pick-N-Pull, a leading self-service used auto parts retailer, will add Greenleafs 22 locations to its existing group of 30 stores, considerably increasing its presence in the Southern, Eastern, and Midwestern U.S.
The newly acquired locations are in Arizona, Florida,
Georgia, Illinois, Massachusetts, Michigan, Nevada, North Carolina, Ohio, Virginia, and Texas.
We believe there is excellent growth potential in both the self-service and full-service markets, stated John D. Carter, Schnitzer Steel's president and CEO.
We anticipate that this acquisition may have a modestly dilutive to neutral effect on earnings in the first year and provide significant earnings growth in future years, he continued.
Brunswick County residents oppose Hugo Neu landfill
To the chagrin of local residents, the Hugo Neu Company has purchased 750 acres of land in Brunswick County, North Carolina where the company plans to build a massive landfill and recycling center.
Residents worry about the landfills impact on property value as well as the aesthetic value of the neighborhood.
I'm very confident that it will not be a good thing for the neighborhood, for the town, for the county, said resident Terrie Holden, who lives just down the street from the proposed landfill.
County commissioners also strongly oppose the project, but do not anticipate that they will be able to stop it.
The fact that they now have the land in their name means theyre more entrenched and more determined, said County Commissioner Bill Sue.
Hugo Neu still needs approval from state environmental authorities, and if the permit is granted, the controversial project will proceed without a hitch.
Ryerson Tull Inc changes name to something snappier
Ryerson Tull Inc announced it will change its name to Ryerson Inc, effective January 1, 2006, to reflect its newly integrated organization after acquiring Integris Metals in earlier this year.
We will have a name that represents more than 160 years of leadership in the metal service center industry and all the companies that are part of our rich heritage, including Joseph T. Ryerson, J.M. Tull Metals, J&F Steel, and most recently, Integris Metals, said Neil S. Novich, chairman, president, and CEO of Ryerson Tull.
Ryerson Tull Inc. is
North Americas leading distributor and processor of metals.
Timken Company acquires aerospace bearings company
The Timken Company announced it will strengthen its position in the aerospace industry by acquiring aerospace bearing inspection and reconditioning service Bearing Inspection Inc.
This acquisition transforms Timken's position in the aerospace services market, said J. Ron Menning, vice president of aerospace, consumer and super precision.
The combination of BIIs recognized leadership in bearing reconditioning with Timken's capabilities as the foremost global manufacturer of aerospace bearings will dramatically enhance the value we can offer worldwide aviation customers and generate synergies for the business. Timken is now where the industry can turn for an unmatched offering of power transmission products and services.
The BII facility will continue to operate under existing management at its current location in Los Alamitos, California as part of Timken Aerospace Services.