Steel Product Producers
GrafTech CEO To Step Down
Written by Laura Miller
September 29, 2023
Electrode producer GrafTech International announced on Thursday, Sept. 28 that its president and CEO would be stepping down.
Marcel Kessler will depart as leader of the Brooklyn Heights, Ohio-based company effective Nov. 15 due to family reasons, the company said in a statement.
Kessler will officially resign as an employee of GrafTech effective Dec. 31 but will continue to serve on the company’s Board of Directors.
Effective Nov. 15, Timothy K. Flanagan, the company’s current CFO and treasurer, will step up to serve as interim CEO.
Current VP and corporate controller Catherine Hedoux-Delgado will take over as interim CFO and treasurer, the company said.
Laura Miller
Read more from Laura MillerLatest in Steel Product Producers
Cliffs steadfast in commitment to Middletown decarb project
Cleveland-Cliffs Inc. on Monday reiterated its commitment to a major decarbonization project at its Middletown Works in Ohio, despite an earlier report suggesting otherwise.
Triple-S Steel buys West Coast distributor Borrmann Metals
Triple-S Steel Holdings has acquired West Coast steel products distributor Borrmann Metals Co.
Nucor expects lower steel prices to drive Q3 earnings decline
Nucor blamed lower steel prices for weaker third-quarter results in earnings guidance released on Tuesday.
SDI guides toward lower Q3 earnings on weaker flat-rolled steel prices
Steel Dynamics Inc. (SDI) expects lower third-quarter earnings on the heels of “meaningfully lower” prices at its flat-rolled steel operations. The Fort Wayne, Ind.-based steelmaker expects Q3’24 earnings of $1.94 to $1.98 per diluted share, according to figures released on Monday. That’s down from $2.72 per share in Q2’24 and down from $3.47 per share in Q3’23.
Stelco shareholders OK $2.5B sale to Cliffs
Stelco shareholders voted overwhelmingly on Monday to OK the $2.5-billion sale of the Canadian flat-rolled steelmaker to Cleveland-Cliffs. Indeed, 99.97% of those who cast ballots voted to approve the deal, according the Hamilton, Ontario-based steelmaker.