AK Steel (NYSE: AKS - News) said today that members of the United Auto Workers (UAW), Local 3044, have ratified a new six-year labor agreement covering about 190 hourly production employees at the company's Rockport (IN) Works. AK Steel said that UAW officials notified the company that the new contract was ratified in voting held on July 5th and 6th in Rockport. The new agreement takes effect August 1, 2007 and runs through September 30, 2013.

"We are delighted that members of UAW Local 3044 have ratified a new, competitive labor agreement that will help Rockport Works continue to serve our valued customers with outstanding quality and productivity," said James L. Wainscott, chairman, president and CEO of AK Steel. "We are especially pleased that the new contract is in place well ahead of the expiration date of the previous agreement."

The parties had agreed to commence early bargaining in the mutual desire to reach a new contract prior to the expiration of the existing agreement that would have expired on September 30, 2007. A tentative contract agreement was reached on June 28, 2007.

AK Steel said that, among various provisions, the new contract at Rockport Works includes:

- Competitive wage increases and lump sum payments
- A signing bonus for early ratification
- Continued cost-sharing for employee health care
- Improved contributions to a 401(k) defined contribution retirement plan

AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets. The Rockport Works processes flat-rolled carbon and stainless products for a wide variety of end uses, including automotive and appliance markets.


Source: AK Steel

Tarpon Industries, Inc., a manufacturer and distributor of engineered steel storage rack systems, and structural and mechanical steel tubing, today announced that through a private placement of units the company raised a total of $1.7 million consisting of three separate traunches closing on June 18, 2007, June 26, 2007, and July 2, 2007. Each unit consists of a note with a maturity date of December 17, 2007 at an interest rate of 12% per annum, together with one and one half common shares for each dollar of principle amount of promissory note purchased. The net proceeds from the private placement will be used for working capital and general corporate expenses. High Capital Funding, LLC acted as the Company's lead investor in connection with this private offering.

James W. Bradshaw, CEO of Tarpon Industries, Inc., stated, "In conjunction with our cost reduction program this offering is a very positive step toward building a more solid capital position to support the continuation of our operations. Management is committed to the long term success of the company and is pleased that investors have recognized the growth opportunities that lie ahead of the company. This capital offers us the flexibility to produce the quality products our customers have come to expect from us. Our ultimate goal remains operating profitability."

The shares of common stock have not been registered under the Securities Act of 1933 and may not be subsequently offered or sold by the investors in the United States absent registration or an applicable exemption from the registration requirements. Tarpon Industries has agreed to file a registration statement covering the underlying common stock associated with the units and all shares related to contingency guarantees in the agreement.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Tarpon Industries, Inc.

Tarpon Industries, Inc., through its wholly owned subsidiaries within the United States and Canada, manufactures and sells structural and mechanical steel tubing and engineered steel storage rack systems. The company's mission is to become a larger and more significant manufacturer and distributor of structural and mechanical steel tubing, engineered steel storage rack systems and related products. For more information, please visit Tarpon's website at http://www.tarponind.com.

Forward-Looking Statements

Certain statements made by Tarpon in this presentation and other periodic oral and written statements, including filings with the Securities and Exchange Commission, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, as well as statements which address operating performance, events or developments that we believe or expect to occur in the future, including those that discuss strategies, goals, outlook or other non-historical matters, or which relate to future sales or earnings expectations, cost savings, awarded sales, volume growth, earnings or a general belief in our expectations of future operating results, are forward-looking statements. The forward-looking statements are made on the basis of management's assumptions and estimations. As a result, there can be no guarantee or assurance that these assumptions and expectations will in fact occur. The forward-looking statements are subject to risks and uncertainties that may cause actual results to materially differ from those contained in the statements. Some, but not all of the risks, include our ability to obtain future sales, our ability to successfully integrate acquisitions, changes in worldwide economic and political conditions, including adverse effects from terrorism or related hostilities including increased costs, reduced production or other factors, costs related to legal and administrative matters, our ability to realize cost savings expected, inefficiencies related to production that are greater than anticipated, changes in technology and technological risks, foreign currency fluctuations, increased fuel costs, increased steel costs as it relates to our selling price, work stoppages and strikes at our facilities and those of our customers, the presence of downturns in customer markets where the company's goods and services are sold, financial and business downturns of our customers or vendors, and other factors, uncertainties, challenges, and risks detailed in Tarpon's public filings with the Securities and Exchange Commission. Tarpon does not intend or undertake any obligation to update any forward-looking statements.


Contact:

Cameron Associates
Paul G. Henning, 212-245-8800 ext. 221
phenning@cameronassoc.com

Source: Tarpon Industries, Inc.

Steel products producer AK Steel Holding Corp. said Monday that union workers at an Indiana plant have ratified a new six-year labor deal.

The new agreement with the United Auto Workers Local 3044 will take effect Aug. 1 and run through Sept. 30, 2013. The contract covers about 190 hourly production workers at AK Steel's Rockport Works plant.

Among the new contract's features, AK Steel said it includes a signing bonus for early ratification and improved contributions to retirement plans.

Shares of AK Steel rose 57 cents, or 1.5 percent, to $38.96 in morning trading.

Questions or comments about this story should be directed to the Financial News desk of The Associated Press at 212-621-7190.

Mechel OAO announces that it intends to release its results for the first quarter ending March 31, 2007, on Wednesday, July 11, 2007. In conjunction with this release, Mechel will host a conference call, which will be simultaneously broadcast live over the Internet. Igor Zyuzin, Chief Executive Officer, will host the call.

Listeners can access the conference call live over the Internet through a link on Mechel's web site at http://www.mechel.com/investors/fresults/index.wbp at the following times :

Wednesday, July 11, 2007
6:00 PM Moscow Time
3:00 PM London Time
10:00 AM New York Time

Please allow 15 minutes prior to the call to visit the site and download and install any necessary audio software. Additionally, investors can access a replay of the webcast on our web site for one month.

Mechel is one of the leading Russian mining and metals companies. Mechel unites producers of coal, iron ore, nickel, steel, rolled products, and hardware. Mechel products are marketed domestically and internationally.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward- Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.


Source: Mechel OAO

A Kazakh court on Monday convicted eight workers of negligence in connection with an explosion at a Mittal-owned coal mine that killed 41 people last year, a union official and a defense lawyer said.

Five of the defendants were sentenced to between one and 3 1/2 years in prison in connection with the September blast at the Lenin mine, said Viktor Abramenkov, an official with mine's trade union.

The Shakhtinsk District Court gave three other employees suspended sentences, said Abramenkov and Oleg Kupriy, a defense lawyer for one of the engineers.

Lawyers for the defendants -- who included the mine's chief engineer and an electrician, among other employees -- were considering whether to appeal, Abramenkov said.

Kazakh authorities concluded the blast was caused by violations of safety rules.

The Lenin mine is one of eight in Kazakhstan that is part of Mittal Steel Co.-owned complex feeding the Temirtau smelter, which is one of the world's largest steel plants. In all, the mines employ about 25,000 people and extract about 12 million tones of coal a year.

The mines will become part of Arcelor Mittal, a company being formed by the merger of Mittal Steel Co. NV and Arcelor SA.

Mechel OAO, one of the leading Russian mining and metals companies, announces the commissioning of an automated alumina transshipment complex, Albatross, at its subsidiary, Port Kambarka OAO, in line with its technical re-equipment plan.

The commissioning of the self-propelled weighing complex, Albatross, took place on July 7 during the celebration of Port Kambarka's 65th anniversary. This complex is the only self-propelled equipment of this kind in Russia and is designed for transshipping alumina from river to railway transport.

The first technical startup of the Albatross self-propelled weighing complex was performed in the port on April 25, 2007. The complex is installed on a self-propelled gantry equipped with an automation and control system. The complex is controlled by an operator from a cabin, which is a part of the complex. The complex is equipped with bunker scales, metering, video control, loading, compressed air preparation, and emergency valve systems.

"Port Kambarka faces the new season equipped with the state-of the-art loading equipment. The Albatross complex is designed for transshipping pulverulent and fine-grained bulk cargoes from river to railway transport. With this complex, we are able to increase cargo transshipping volumes, reduce loading time and improve the working conditions of the personnel. In addition, using the new complex enables Port Kambarka to enter the logistic system of alumina transportation for Russian aluminum plants," Mechel Management Company's Chief Executive Officer Vladimir Polin commented.

***

Mechel is one of the leading Russian mining and metals companies. Mechel unites producers of coal, iron ore, nickel, steel, rolled products, and hardware. Mechel products are marketed domestically and internationally.

***

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward- Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.


Source: Mechel OAO

Shares of Schnitzer Steel Industries Inc. surged more than 16 percent early Monday after the company announced record third quarter results.

The Portland-based company had $709 million in sales for the quarter ended May 31, a 40 percent increase from last year. As a result, earnings jumped to $44 million, or $1.47 per share.

The quarter blew away analysts' forecasts of $1.07 in earnings per share. The company had earnings of $30 million, or 98 cents per share, during the third quarter last year.

Shares jumped to $60.81 in late morning trading.

Last year's results reflected a $4 million charge for settling Securities and Exchange Commission and Department of Justice investigations related to bribing foreign officials.

Schnitzer is one of the nation's largest manufacturers and exporters of recycled metal. It has facilities in 11 states.

Published July 9, 2007 by the Portland Business Journal