Gerdau SA and Gerdau Ameristeel released Q1 2009 earnings recently. You can see Gerdau’s release here and Gerdau Ameristeel’s release here. Both companies had positive EBITDA per ton in the first quarter, $77 for Gerdau and $33 for Gerdau Ameristeel. Among the companies tracked on the Nerds of Steel earnings spreadsheet, about half have posted positive EBITDA per ton in Q1 2009 and half have posted negative EBITDA, with a couple still left to report.
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Gerdau Ameristeel, Cambridge Plant is now on Strike as of May 16, 12:01am, 2009. Due to Company asking for Major Concessions…
major concessions? keep dreaming…and strike your self out of a job buddy
I approved this comment about the Cambridge strike mostly because I approved the prior comment. I do so reluctantly after considering the risks of letting Nerds become a site for a flame war versus the risks of behaving like a censor. I appreciate that feelings about these situations run high. But there are obviously two sides to the story and both are deserving of respectful comment. There is no valuable learning for anyone from calling into question the other party’s motivation or intelligence. Now it’s 1-1. Even. If there are more comments on this topic, those that show explicit flame-ish tendencies won’t be approved. As with all comments that you might have on any topic on Nerds, please make them respectfully. And for those looking for more on the situation in Cambridge, try the Cambridge Reporter
After nearly 11 weeks on strike in Cambridge, we see no light at end of tunnel. The company gave us a final contract about 11 days ago , one in which did contain a little hope. at some piont we need to realize that the time for a major battle with the company is not now. some feel we have invested too much to quit now,look at it like this, if you invested your life savings with a broker who kept telling you,well we have come too far to stop now and continued to lose your money you would fire him.
Sometimes you live to fight another day.I wish times were better for everyone and we could make some good gains in our pension, maybe even some early retirement language but at what point have we spent all that we would want to gain. We have a grievance proceedure for whatever the company tries to do, we can go to arbitration, although costly, still better than most employees in other plants. Times will improve, WE ARE AMONG THE BEST STEELWORKERS IN NORTH AMERICA, WE HAVE SHOWN OR UNITY AND STRENGTH, NOW WE NEED TO BE SMART. A vote to accept the contract only means we realize the economic situation we live in, not that we like it or think its a good one. Now we need to be SMART,for ourselves, our jobs and our families.
250+ guys laid off since march 09 whitby mill. 60hr work weeks for those left who want the OT! Lots of rumors but we are being kept in the dark by the company and the union. Lets hope all the BS ends soon and we are back pounding out some good CANADIAN steel. (i’m not holding my breath)
They go back to work this January as of today