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September 2006

 

BUSINESS/ORGANIZATIONAL BRIEFS

Viebrock joins MHF Logistical Solutions

MHF Logistical Solutions (MHF-LS) said that nuclear industry veteran James Viebrock has been appointed director of international programs.

Viebrock has more than 38 years of experience in the nuclear industry, including frequent international assignments and responsibility for the design, licensing, fabrication, handling and operation of numerous storage and transportation casks. He has been involved in shipments of more than 4,000 spent fuel assemblies.

Prior to joining MHF-LS, Viebrock was senior project manager at Holtec International. Viebrock also had a 30-year career with NAC International, based in Norcross, Georgia. He most recently was senior vice president, site and transportation services, managing projects in Iraq, Kazakhstan, Taiwan and North Korea.

Viebrock holds a master’s degree in chemistry from the University of California - Santa Barbara.

IPSCO issues common shares cash dividend

IPSCO Inc. announced that their Board of Directors declared a cash dividend on its common shares of $0.20 (Canadian) per share payable September 29, 2006 to shareholders of record at the close of business on September 15, 2006.

IPSCO, traded as “IPS” on both the New York Stock Exchange and Toronto Stock Exchange, operates steel mills at three locations and pipe mills at six locations in the United States and Canada.

Mikolajczak joins ABB Automation Products

Michael Mikolajczak has been named a product line manager for ABB Automation Products, Low Voltage Drives, according to Cliff Cole, director of marketing, ABB Low Voltage Drives.

Mikolajczak is responsible for the growth, strategic planning and lifecycle management of the ACS50, ACS150, ACS350 and ACS550 AC drive product lines.

Most recently, Mikolajczak provided business marketing consultancy to global companies based in the United States and Asia. Prior to that, he held positions of in sales, marketing and product management while working for General Electric, Holt Electric and, most recently, Eaton-Cutler-Hammer.

Mikolajczak holds a Bachelor of Science degree in Industrial Engineering from the University of Wisconsin, Madison.

Allied Waste posts second quarter 2006 results

Allied Waste Industries, Inc. reported financial results for the second quarter ended June 30, 2006.

Internal revenue growth increased 7.8% over the prior year, driven by average price increases of 6.0% and average volume increases of 1.8%. Operating income increased to $253 million compared to $248 million for the second quarter 2005, despite a $23 million increase in direct fuel costs. Operating income before depreciation and amortization increased to $400 million compared to $389 million for the second quarter 2005. Diluted earnings per share were $0.08, including the $0.06 per share dilutive impact of refinancing costs, compared to $0.12 for the second quarter 2005. Cash flow from operations was $196 million, which includes $37 million of refinancing costs, compared to $230 million for the second quarter 2005.

Revenue for the second quarter ended June 30, 2006 increased to $1.541 billion from $1.449 billion in the second quarter 2005.

Bernstein new vice president of Alter Trading

Alter Trading Corporation has named Tim Bernstein as vice president of operations. Previously, Bernstein was a general manager at the D.J. Joseph River Metals Recycling facility in Louisville, Kentucky.

Bernstein will be responsible for the Burlington, Davenport, Peoria, and Quincy Alter Trading facilities.

Republic Services raises quarterly dividend

The Board of Directors of Republic Services, Inc. announced a 14 percent increase in the Company’s regular quarterly dividend program from $0.14 per share to $0.16 per share. The quarterly dividend will be paid on October 16, 2006 to shareholders of record on October 2, 2006.

“This is the third consecutive annual increase of our dividend,” said James E. O’Connor, chairman and chief executive officer of Republic Services, Inc.

CMC acquires Concrete Formtek Services

Commercial Metals Company has acquired substantially all of the operating assets of Concrete Formtek Services (CFS). Established in Santa Fe Springs, California in 1991, CFS specializes in forming and shoring rentals.

This facility will become a part of CMC Construction Services and will operate under the name of CMC Formtek.

Sarjon Kashto, the owner of CFS, will continue to manage the business while Mark Starek will assume area management responsibilities of the branch.

New sales managers at American LaFrance

American LaFrance has appointed three new regional managers. The new regional sales and service managers are Jim McKee in the northeast, George Bowles in the central region, and Walter vonDuhn in the midwest.

Jim McKee comes from Federal Signal, where he was director of national accounts for the Leach refuse vehicle division. Prior to that, McKee worked at Heil Environmental Industries in a variety of positions, from national account director to vice president of sales.

Walter vonDuhn’s background includes management of solid waste operations as well as vocational truck sales and refuse equipment. Most recently vonDuhn was general manager of Rubbish Solutions in Commerce City, Colorado.

George Bowles was with Autocar, a regional manager responsible for vocational truck sales in the refuse industry.

Schnitzer Steel declares quarterly dividend

The Board of Directors of Schnitzer Steel Industries, Inc. declared a cash dividend of $0.017 per common share, payable on August 30, 2006, to shareholders of record August 16, 2006. Schnitzer has paid a dividend every quarter since going public in November 1993.

ARCA reports second quarter loss

Appliance Recycling Centers of America, Inc. (ARCA) reported sales of $19,161,000 for the second quarter of 2006 ending July 1.

ARCA’s net loss for this the quarter was $461,000 or $0.11 per share, compared to earnings of $404,000 or $0.09 per diluted share in the second quarter of 2005.

“We believe rising interest rates and high fuel prices have affected the portion of ApplianceSmart´s business related to purchases of packages of appliances by people building new homes or remodeling their kitchens,” said Jack Cameron, president and CEO. Legal expenses of about $200,000 also affected the second quarter results, he said.

Tube City IMS opens first China office

Tube City IMS Corporation announced that its Tube City Division has opened its first representative office in Beijing, China.

Steven Liu will work in the office as a liaison with customers and suppliers to Tube City in the purchase and sale of scrap metal and other raw materials, as well as steel mill services, and presenting these products and services to potential new customers and suppliers. Prior to joining the company, Liu worked as a project manager for a Beijing-based power company.

Liu earned his bachelor’s degree in engineering from North China Electric Power University and a master’s degree in business administration from Tsinghua University.

Becker Iron & Metal acquired by Alter Trading

Alter Trading Corporation has acquired the assets of Becker Iron & Metal, Inc., located in Marshall, Minnesota. The privately held firm has been a leading processor of scrap metal in southwestern Minnesota since 1968.

“This acquisition is a perfect fit given the professionalism and integrity for which the Becker organization and its employees are known. The quality of their products, commitment to suppliers and customers, and the highest standards of business practices make them a great addition to our organization as well.” said Robert Goldstein, CEO and president, Alter Trading Corporation.

EPA General Counsel leaves for partnership

Ann R. Klee, General Counsel of the United States Environmental Protection Agency (EPA), has joined Crowell & Moring LLP’s Natural Resources & Environmental (NR&E) Group as partner.

During Klee’s career as principal legal advisor to the EPA Administrator, Klee led nearly 350 lawyers and support staff in the DC headquarters and 10 regional offices across the country.

While chief counsel at the Senate Committee on Environment and Public Works, Klee held primary responsibility for managing Clean Water Act, Endangered Species Act, solid and hazardous waste management, forestry and natural resources, and enforcement issues.

Prior to her government service, Klee served as chair of the Environmental Group of a major law firm. She received her J.D. from University of Pennsylvania Law School.

INCO drops bidding war for Falconbridge

Inco Ltd., Toronto, announced that its bid for competitor Canadian nickel miner Falconbridge Ltd. has been dropped. According to an AP report, Inco’s departure means that Swiss-based mining company Xstrata PLC has a greater chance of acquiring Falconbridge. Xstrata is currently Falconbridge’s largest shareholder with a 20 percent stake.

Falconbridge announced that its board will meet to review the Xstrata offer and will make a formal recommendation to its shareholders.

Metal Management reports on sales results

Metal Management, Inc. has reported in August the results for their first fiscal quarter ended June 30, 2006.

The company generated consolidated net sales of $496 million in the first quarter of fiscal 2007 and net income of $44.9 million. Earnings per share were $1.70 per diluted common share. Earnings per share included a one-time gain of approximately $0.61 per diluted common share related to the sale of a joint venture interest.

During the quarter, the company processed and sold or brokered approximately 1.2 million tons of metal, including ferrous yard shipments of approximately 1.1 million tons and non-ferrous shipments of approximately 127 million pounds.

A dividend of $0.075 per share was paid to all shareholders of record.

Richard Hack named VP of Universal Stainless

Universal Stainless & Alloy Products, Inc. announced that Richard J. Hack has joined the Company as vice president of Sales and Marketing.

Hack has over 25 years of steel industry experience, with a background in manufacturing as well as sales and marketing.

Waste Industries USA declares cash dividend

Waste Industries USA, Inc. declared a quarterly dividend based on the Company’s second quarter performance.

The dividend of $0.10 per share is payable September 1, 2006 to shareholders of record at the close of business on August 25, 2006.

 

 


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