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BUSINESS
January 16, 1991
Armco Inc. and Cyclops Industries, Inc., both manufacturers of stainless steel, today announced an agreement in principle for Cyclops to merge with a new wholly-owned subsidiary of Armco. Under the agreement, Armco would pay $22 a share or approximately $156 million for the 7.1 million outstanding shares of Cyclops common stock. To fund a portion of the merger cost, Armco also announced an agreement in principle with New York-based Alleghany Corp., a financial services company and a substantial Cyclops stockholder, to sell Alleghany $100 million of a new Armco 10 percent convertible preferred stock.
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NEWS
By Frederick N. Rasmussen, The Baltimore Sun | October 1, 2010
"Only God and the sea know what happened to the great ship. " — President Woodrow Wilson The last anyone heard of the Cyclops as it steamed in a voyage that began in Bahia, Brazil, on Feb. 22, 1918, en route to Baltimore with 10,000 tons of manganese ore in its bunkers, was in a telegram to the West Indian Steamship Co. in New York City. "Advise charterers USS CYCLOPS arrived Barbadoes Three March for bunkers. Expect to arrive Baltimore Thirteen March. Opnav.
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BUSINESS
February 7, 1991
The owner of the Eastern Stainless Steel plant on Rolling Mill Road said it earned a profit in the last three months of 1990 but lost money for the year after taking a $15 million charge for restructuring.Cyclops, a Pittsburgh-based specialty steelmaker, had previously announced its agreement to be taken over by Armco Inc., a New Jersey-based steelmaker with a stainless steel rod plant on East Biddle Street in Baltimore.The company said its flat-rolled products division, including the stainless steel plate and sheet operation in Baltimore, has suffered from a slump in sales, lower prices and higher energy and labor costs.
ENTERTAINMENT
By Rob Lowman and Rob Lowman,LOS ANGELES DAILY NEWS | December 4, 2003
X2: X-Men United, the second film installment of the Marvel Comics saga of mutants with super powers, could be titled X.2 -- an upgrade on the first, not an overhaul but an enhancement. That's the good news, because X-Men, which was also directed by Bryan Singer, was already one of the more cohesive and intelligent of all the comic-book-to-screen mutations. In this case it's not a single lonely tortured soul with unusual powers hiding out from the world, but a whole minority of the population.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | April 25, 1992
Armco Inc. and Cyclops Industries Inc. are hoping they can take their two money-losing companies, combine them and come out with one strong, profitable stainless steel business."
BUSINESS
January 17, 1991
Armco Inc. and Cyclops Industries, Inc., both manufacturers of stainless steel, have announced an agreement in principle for Cyclops to merge with a new wholly-owned subsidiary of Armco.Both Armco and Cyclops have operations in Baltimore. Lee Bland, an Armco spokesman, said the merger would not affect the local companies, which make different kinds of stainless steel products.Eastern Stainless Corp., a subsidiary of Cyclops, makes stainless plate at a plant on Rolling Mill Road.Baltimore Specialty Steels Corp.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | April 24, 1992
Shareholders of Pittsburgh-based steelmaker Cyclops Industries Inc., overwhelmingly approved yesterday the sale of their company to Armco Inc., a steel company based in Parsippany, N.J.Both companies have stainless-steel plants in Baltimore.The merger is expected to be completed today after Armco shareholders approve it at their annual meeting in Parsippany. Armco is paying $156 million in cash and stock for Cyclops.Armco also announced yesterday that it lost $30.5 million, or 37 cents a share, during the first quarter, a significant improvement over the 1991 first quarter, when the company lost $39.6 million, or 47 cents a share.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | March 6, 1992
Armco Inc. and Cyclops Industries Inc., two companies that are posed to merge, are studying linking Armco's Baltimore operation with that of Cyclops' plant in suburban Pittsburgh.Such a combination is seen as a way of bolstering the two struggling operations. But executives at the two companies said it was too early to say what form the arrangement would take or how it would affect the Baltimore work force.The study involves the Armco subsidiary Baltimore Specialty Steels Corp. and Cyclops' Bridge- ville, Pa., operation.
BUSINESS
By Kim Clark | September 25, 1991
The on-again, off-again merger of two major Baltimore stainless-steel makers is on again.Seven months after a similar agreement fell apart, Armco Inc. announced yesterday that it would purchase Cyclops Industries Inc. for $156 million in cash and stock.Although the steel industry is suffering from overcapacity, and mergers often result in consolidations and plant closures, local Steelworkers union officials said yesterday that the merger would probably have no impact on the 1,400 steel workers at the two companies' Baltimore facilities.
BUSINESS
By Kim Clark | February 27, 1991
Armco Inc. couldn't raise all the cash it needed to buy the owner of the Eastern Stainless Steel plant on Rolling Mill Road and has broken off its agreement to purchase Cyclops Industries Inc., the companies announced yesterday.Armco, which owns a money-losing stainless steel rod-making plant on East Biddle Street, said it was disappointed and hoped to figure out some other way to merge the two specialty steel companies.But an official at Pittsburgh-based Cyclops said the two companies were no longer talking.
SPORTS
By Sandra McKee and Sandra McKee,SUN STAFF | July 7, 1996
WIMBLEDON, England -- Back in 1990, when Mark Woodforde's doubles partner John McEnroe announced he wasn't going to play doubles anymore, Woodforde went searching for a younger man with a fierce desire to win.At the same time, Todd Woodbridge was looking for someone a little older and more experienced, and they happened upon each other.They lost in the first round of their first tournament.Yesterday, they made history, becoming the first doubles team in the open era to win four straight men's doubles titles here.
FEATURES
By Rosemary Knower | February 4, 1996
The Great American Home. What's your image of it?Twenty years ago, most people would have answered: square. Remember how, in the old days, Beaver and Wally came tracking in the back door to the kitchen, looking for cookies? And Mom was always there in a crisp apron, dispensing chocolate-chip comfort and good advice with equal ease, while Dad chortled charmingly from his easy chair?The family had no real problems, and the house had no real surprises. It was a nice, dependable little box, with a central stairway hall, living room, dining room, bedrooms, bath and Fibber McGee closets, guaranteed to dump its contents on the person who opened the door.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | April 25, 1992
Armco Inc. and Cyclops Industries Inc. are hoping they can take their two money-losing companies, combine them and come out with one strong, profitable stainless steel business."
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | April 24, 1992
Shareholders of Pittsburgh-based steelmaker Cyclops Industries Inc., overwhelmingly approved yesterday the sale of their company to Armco Inc., a steel company based in Parsippany, N.J.Both companies have stainless-steel plants in Baltimore.The merger is expected to be completed today after Armco shareholders approve it at their annual meeting in Parsippany. Armco is paying $156 million in cash and stock for Cyclops.Armco also announced yesterday that it lost $30.5 million, or 37 cents a share, during the first quarter, a significant improvement over the 1991 first quarter, when the company lost $39.6 million, or 47 cents a share.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | March 6, 1992
Armco Inc. and Cyclops Industries Inc., two companies that are posed to merge, are studying linking Armco's Baltimore operation with that of Cyclops' plant in suburban Pittsburgh.Such a combination is seen as a way of bolstering the two struggling operations. But executives at the two companies said it was too early to say what form the arrangement would take or how it would affect the Baltimore work force.The study involves the Armco subsidiary Baltimore Specialty Steels Corp. and Cyclops' Bridge- ville, Pa., operation.
BUSINESS
By Kim Clark | September 25, 1991
The on-again, off-again merger of two major Baltimore stainless-steel makers is on again.Seven months after a similar agreement fell apart, Armco Inc. announced yesterday that it would purchase Cyclops Industries Inc. for $156 million in cash and stock.Although the steel industry is suffering from overcapacity, and mergers often result in consolidations and plant closures, local Steelworkers union officials said yesterday that the merger would probably have no impact on the 1,400 steel workers at the two companies' Baltimore facilities.
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