STILLWATER MINING COMPANY announced immediate plans to restructure its operations and reduce and redeploy portions of its workforce. The move is largely focused on the Company’s East Boulder Mine operations south of Big Timber, although the Company’s Stillwater Mine at Nye, Columbus Metallurgical operations, and administrative offices in Columbus and Billings are also affected. The [...]

GE Commercial Finance Corporate Lending announced a $100 million increase in senior secured financing for Severstal Columbus, a next generation steel mill based in Columbus, MS. This increase in funds brings the total project financing for the company, formerly known as SeverCorr, to $577.5 million. GE Capital Markets arranged the transaction as co-lead arranger. The [...]

AK Steel said today that members of United Steelworkers (USW) Local 8-523 have overwhelmingly ratified a new three-year labor agreement covering about 240 hourly production and maintenance employees at the company’s Ashland, Kentucky coke plant. The new agreement takes effect immediately and runs through October 31, 2011. It replaces an agreement that would have expired [...]

AK Steel has advised its customers that a $1,040 per ton surcharge will be added to invoices for electrical steel products shipped in September 2008. September 2008 surcharges for the broad range of stainless steel products that AK Steel produces can be found on the company’s web site at www.aksteel.com .
AK Steel’s surcharges are based [...]

AK Steel announced that its board of directors has authorized the company to make an early $75 million contribution to its pension trust fund. The contribution will be made during the third quarter and will reduce the company’s future funding requirements. Following the contribution, AK Steel will have made $834 million in pension fund [...]

Following the close of trading today, AK Steel (NYSE: AKS) will be added to Standard and Poor’s S&P 500 GICS (Global Industry Classification Standard) Steel Sub-Industry index, aligning the company with the very best of America’s most prominent corporations. The S&P 500 is widely considered to be the single best indicator of the U.S. equities [...]