2019 SMU Steel Summit Conference – A Sneak Peek – Day 3

RE: 2019 SMU Steel Summit Conference, Aug. 26-28, 2019 – Location: Georgia International Convention Center, Atlanta, GA

In Thursday’s issue of this past week, I laid out the first-day agenda and speakers, then on Sunday I did the same for day two of the 2019 SMU Steel Summit Conference. Today, I will address the third and final day of the conference, which will be held on Wednesday, Aug. 28, 2019.

We intentionally pack the third day of our conference with powerhouse programs and speakers. This year will be no different and we highly encourage attendees to remain through the final agenda item on the program.

7:00 AM – Doors Open at the Georgia International Convention Center

Coffee, soft drinks and pastries will be available in the exhibition area.

8:00 AM to 8:15 AM – Opening Comments from John Packard, President & CEO, Steel Market Update

8:15 AM to 9:15 AM – Mill Inputs & Costing

We reached out all the way to Australia to bring the CRU worldwide mill costing expert to our conference to discuss mill inputs, and how those inputs affect the mill cost to produce steel. Ryan Smith is the CRU expert on global steel costing models. We think our attendees will benefit from getting a better understanding of how inputs such as iron ore, scrap, DRI, etc., affect the cost to produce steel. Ryan will also talk about how the U.S. compares to the rest of the world, how U.S. cost competitiveness will evolve and what is driving any changes. We think this is a timely subject in light of all the new capacity that has been announced for both the U.S. and Mexico.

9:15 AM to 10:30 AM – Keynote Address: Managing in an Uncertain Economy

Our favorite economist, Dr. Alan Beaulieu of ITR Economics, will join us to discuss where we are in the market cycle, what companies need to do to prepare for the next stage in the cycle and how to manage through the uncertainties created by the U.S. government and factors. He will also update us on his dire projection for approximately 2030 when he predicts a Great Recession…

If you have not seen Dr. Beaulieu speak before, you are in for a treat. He is a dynamic speaker and has a knack for connecting with his audience.

10:30 AM to 11:00 AM – Break

11:00 AM to 12:00 Noon – The Impact of New Steel Capacity

We have put together a dynamic group of panelists to discuss the new capacity coming online over the next few years and how it will affect the steel and manufacturing industries. Timna Tanners, steel and mining analyst for Bank of America Merrill Lynch, has trademarked what she believes will be the case – Steelmageddon. Paul Lowrey, Managing Director of Steel Research Associates, will offer a different perspective than Ms. Tanners. Joining our conference for the first time is Lynn Lupori, head of Metals Consulting for CRU, North America. We are anticipating a spirited discussion.

12:00 Noon to 12:45 PM – Lunch

12:45 PM to 1:45 PM – Keynote Presentation: Daily Briefing: Politics, Policy and The Economy

Ari Fleisher is the former White House Press Secretary under President Bush and a well-known political and economic analyst on Fox News and elsewhere. He will discuss what is happening in Washington, D.C., and what businesses/citizens should anticipate as we head into the 2020 general election.

1:45 PM to 2:30 PM – Banking, Commercial Lending & Mergers and Acquisitions

We’ve seen sliding steel prices during 2019 and the potential for weaker demand as we move into the later part of the year and potentially into 2020. What does 2020 hold in store for those who need to borrow money from the banks? What does the M&A market hold for those considering selling (or acquiring) assets and what will valuations look like based on the forecasts presented during the 2019 SMU Steel Summit Conference. Will 2020 be a year of easy money or will borrowing be more difficult?

Jim Tumulty, Principal & CEO, Calibre Group LLC, will offer his insights. Calibre is a Merchant Bank that advises on matters and invests within the steel industry. It provides investment banking services including raising third party capital and advising on acquisitions/divestitures. It also invests in steel-related and manufacturing assets for its own account.  

Calibre is the largest shareholder of Miami Valley Steel Services (MVSS) and Jim serves as Chairman. MVSS is a flat rolled service center. Calibre is also the second largest shareholder of Specialty Steelworks Inc (SSWI), which acquired the assets of Optima Specialty Steel out of bankruptcy in 2017. SSWI is the largest independent Cold Finished Bar producer in the U.S and owns Michigan Seamless Tube (MST). Jim serves on SSWI’s board. Calibre recently sold its stake in Material Sciences Corp. (MSC). Jim retains a minority stake acquired previous to Calibre’s purchase.

Calibre’s advisory practice involves detailed interaction and negotiation with creditors. These discussions take place under conditions of stressed cash flows, covenant violations and strained liquidity. Declining volumes and prices are the prime causes of liquidity strains.

Jim’s discussion will center on strategies that will help stabilize lender, vendor and customer relationships in bad markets.  

Also on the panel will be Ira Kreft, a Senior Vice President with Bank of America Merrill Lynch, who grew up in the steel industry and has a long history in financing and mergers and acquisitions. 

2:30 PM – Closing of Conference – John Packard, President & CEO, Steel Market Update

To learn more about the agenda, speakers, costs and how to register, visit: www.SteelMarketUpdate.com/events/steel-summit or call 724-720-1012 or email Events@SteelMarketUpdate.com

Make preparations for the 2020 SMU Steel Summit Conference, which will be held on Aug. 24-26, 2020, at the Georgia International Convention Center in Atlanta.