TORONTO, March 12 /CNW/ - Harris Steel Group Inc. (TSX: HSG) ("Harris
Steel") announced that it has been informed by Nucor Corporation ("Nucor")
that Nucor today intends to make an application to the Toronto Stock Exchange
(the "TSX") for the voluntary de-listing of the common shares of Harris Steel
from the TSX effective as at the close of trading on Tuesday, March 13, 2007.
Nucor had previously, through a wholly-owned indirect subsidiary, acquired
over 96% of the common shares. Nucor has delivered a notice pursuant to the
compulsory acquisition provisions of the Business Corporations Act (Ontario)
to shareholders who did not deposit their common shares to the take-over bid.
Harris Steel has several business units: Harris Rebar, which is involved
in the fabrication and placing of concrete reinforcing steel and the design
and installation of concrete post-tensioning systems; Laurel Steel, which is a
manufacturer and distributor of wire and wire products, welded wire mesh and
cold finished bar; and Fisher & Ludlow, which is a manufacturer and
distributor of heavy industrial steel grating, aluminum grating and expanded
metal. These operations serve customers throughout Canada and the United
States. Harris Steel also participates in steel trading on a worldwide basis
through Novosteel (owned 75% by Harris), and in the distribution of
reinforcing steel and allied products to customers in the United States
through Harris Supply Solutions. Harris Steel employs approximately 3,000
people throughout its organization.
Nucor and affiliates are manufacturers of steel products, with operating
facilities in nineteen states. Products produced are: carbon and alloy steel -
in bars, beams, sheet and plate; steel joists and joist girders; steel deck;
cold finished steel; steel fasteners; metal building systems; and light gauge
steel framing. Nucor is the largest recycler in the United States.
Certain statements contained in this news release are "forward-looking
statements" that involve risks and uncertainties. Factors that might cause
actual results to differ materially from those anticipated in forward-looking
statements are outlined in Harris Steel's regulatory filings with the
securities regulatory authorities. The forward-looking statements contained in
this news release speak only as of this date, and Harris Steel does not assume
any obligation to update them.
For further information:
For further information: Flora Wood, Investor Relations, (416) 590-9547
or toll free 1-866-585-0089, E-mail: email@example.com