Nucor cuts steel prices amid rush of imports

Article Abstract:

Nucor Corp. (Charlotte, NC) has cut steel prices to compete with a surge of imports that left one Arkansas mill running at 60% capacity. Nucor will drop prices for hot-rolled, cold-rolled, and galvanized steel by about $20 per ton for its largest customers. Hot-rolled steel will drop 6.9%, to $270 per ton, the lowest price since 1992. Other steelmakers do not disclose their prices as extensively but are expected to make similar reductions in spot market sales pricing. Record steel imports from Russia, Japan, Brazil, and others have been priced at about 20% below the US market.

Comment:

Nucor Corp cuts prices for cold-rolled, hot-rolled, and galvanized steel to compete with imports

United States, Iron and Steel Mills, Marketing procedures, Steel Mill Products, Steel products, Nucor Corp.

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Big Pennsylvania health system to file Chapter 11

Article Abstract:

Allegheny Health, Education and Research Foundation (Aherf), the largest nonprofit health system in Pennsylvania, has filed for Chapter 11 under bankruptcy laws following staggering losses associated with its failed expansion to the eastern part of the state. Aherf also plans to sell nine of its hospitals, which are based in the Philadelphia area, to Vanguard Health Systems Inc. of Nashville, Tenn. for $502 million while retaining its flagship Allegheny General Hospital and other Pittsburgh properties.

Comment:

Plans to sell nine of its hospitals after filing for Chapter 11 under bankruptcy laws following staggering losses

Organizational history, Hospitals, Pennsylvania, Allegheny Health, Education and Research Foundation

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Reynolds Metals to sell sheet mill to Avalon-Borden, exiting sector

Article Abstract:

Reynolds Metal Co. announced that it has signed an agreement with Avalon-Borden Co. to sell its rolling mill in Alabama to the closely-held firm. The deal will enable Reynolds to sell a property that it attempted to sell in 1997. The aluminum sheet rolling mill was initially scheduled to be sold to Aluminum Co. of America. However, the Justice Department filed a suit to prevent the sale.

Comment:

Signs an agreement with Avalon-Borden Co. to sell its rolling mill in Alabama to the closely-held firm

Asset sales & divestitures, Facilities & equipment, Alabama, Aluminum Sheet, Plate, and Foil Manufacturing, Aluminum Sheet & Coil, Reynolds Metals Co., Aluminum sheet

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