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Highlights of 32/2008
           

Created: 8/11/2008
Author: Recorded by: Tim MARTIN, Lubomira SOLTESOVA, Iveta FIALOVA
Category: 32/2008



The final tapping of blast furnace # 1

During last weekend the final tapping of blast furnace # 1 was carried out, meaning the finish of preparation work for the 90-day overhaul of the blast furnaces. The manager of the project, from the division of USSK engineering activities, Dusan Hevera is satisfied with the results of running the both physically and mentally demanding operations. He greatly appreciated the professional teamwork of the participants - the blast furnace workers and the suppliers from the company Termostav and Hutne montaze. Most of all he praised the work safety and the tapping itself, during which only the most skilled furnace operators were counted upon. A special group was created from the first operators from blast furnaces 2 and 3, four of whom took part last year in the successful launching of the remnants of the raw iron before the shut-down of the blast furnace in Smederevo in Serbia. One of the first operations after the cooling of the furnace will be disassembling the throat.

Record Performance by U. S. Steel Corporation

Last week (July 29, 2008) United States Steel Corporation reported second quarter results. Net income increased to $668 million compared to first quarter 2008 net income of $235 million. Second quarter 2008 income from operations of $954 million more than tripled first quarter 2008 income of $266 million. Commenting on results, U. S. Steel Chairman and CEO John P. Surma said, "We recorded the highest quarterly sales and net income in U. S. Steel's history during the second quarter as all three reportable segments posted record results, reflecting strong operating performance and favorable global pricing dynamics."
Commenting on U. S. Steel's outlook for the third quarter, Surma said, "We expect another excellent quarter with continued earnings improvement as price increases implemented during the second quarter and early in the third quarter are expected to improve average realized prices for each of our reportable segments." Third quarter results are expected to decrease for U. S. Steel Europe. While average realized prices should be higher, raw materials costs are also expected to increase, and shipments and operating costs will be negatively affected by a planned blast furnace reline at U. S. Steel Kosice that continue into the fourth quarter. The same day United States Steel Corporation announced that the Board of Directors declares a dividend of 30 cents per share, which means an increase of 5 cents per share.

U. S. Steel Canada to add pickling lines

U. S. Steel Canada Inc., a wholly owned subsidiary of United States Steel Corporation, announced on July 30, 2008 that it has signed a letter of intent with Nelson Steel, a division of Samuel Manu-Tech Inc., under which U. S. Steel Canada will acquire three pickle lines in Nanticoke, Ontario, adjacent to U. S. Steel Canada's Lake Erie Works. U. S. Steel Canada expects the acquisition of the 1.2 million metric tons of pickling capacity from Nelson Steel to strengthen its position as a premier supplier of flat-rolled steel products to the North American market.

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