Alcoa Sets Dates for Employee Layoffs at Rockdale Smelter Due to Local Power Issues

Alcoa said it has set dates for the layoff of approximately 300 employees at its Rockdale, Texas, aluminum smelter where the company has idled half of its production. In addition, approximately 100 contract employees will be affected. The plant was partially shut in June 2008 because of ongoing supply... Read more..

U. S. Steel Tubular Products, Inc. Reaches Tentative Agreement with United Steelworkers on New Labor Contract for Texas Operations Division

United States Steel Corporation announced that its U. S. Steel Tubular Products, Inc. subsidiary reached a tentative agreement with the United Steelworkers (USW) on a new four-year labor contract that will cover approximately 900 USW-represented employees at U. S. Steel Tubular Products, Inc.’s... Read more..

Neenah Enterprises, Inc. and Neenah Foundry Company Announce Acquisition of Morgan’s Welding, Inc.

Neenah Enterprises, Inc. and Neenah Foundry Company announced today that a newly-created wholly-owned subsidiary of the Company has purchased substantially all of the business and assets of Morgan’s Welding, Inc., a steel fabricator located in Pennsylvania, for a cash purchase price of $3.85 million... Read more..

Alcoa Contributes to a Sustainable 2008 Beijing Olympics

Alcoa announced today that it is contributing to China’s commitment to a “green” Olympics by providing lightweight aluminum for transportation systems that will be used during the games and including its aluminum composite material on several new venues constructed especially for the 2008 Beijing... Read more..

Kaiser Aluminum Posts August Energy Surcharge

Kaiser Aluminum announced that the applicable energy surcharge for August shipments of fabricated products will be: 6xxx alloys: $0.048 per pound All other alloys: $0.066 per pound The surcharges are based on a calculation tied to indices provided by the U.S. Department... Read more..

Siemens pursues damages from 11 ex-executives, including Alcoa boss, over corruption scandal

Siemens AG has just published a report saying that it plans to sue two former CEOs and nine other ex-executives for alleged supervisory failings in a corruption scandal that has cost the company millions in fines and damaged its reputation. Siemens’ supervisory board decided to seek damages from... Read more..

Alcoa and Kleinfeld Statements Regarding Siemens Matter

Since the start of discussions with Mr. Kleinfeld about his taking a position with Alcoa, the company and its board have sought and received extensive information regarding the Siemens matter. Alcoa continues to monitor the situation, and believes no further comment or action is warranted or necessary... Read more..

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Olin Corporation on its Second Quarter Earnings and Predicts Record Third Quarter Operating Results

Olin Corporation told the press that the company has announced today that its sales for the second quarter of 2008 were $428.3 million, compared to $266.2 million in the second quarter of 2007. Net income from continuing operations in the second quarter of 2008 was $35.5 million, or $0.47 per diluted... Read more..

Olin Corporation; Vince J. Smith Elected to Olin’s Board of Directors

Olin Corporation is reported to have announced that Vince J. Smith, 59, was elected by its board of directors to serve on Olin’s board, effective August 21, 2008. Mr. Smith served as President and Chief Executive Officer of Dow Chemical Canada, a subsidiary of The Dow Chemical Company, from 2001 until... Read more..

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Timken Bearing Reconditioning Services Winning Customers in China

The Timken Company announced that its industrial bearing services continue to grow in Asia. Timken Industrial Services’ latest customer in the region is Baosteel, China’s largest iron and steel manufacturer. Baosteel first commissioned Timken to repair and recondition bearings on a cold rolling temper... Read more..