WELLAND, ON, April 8 /CNW/ - Lakeside Steel Inc. (TSX-V: LS) ("Lakeside Steel" or the "Company") today announced it has achieved compliance with Canadian-based Energy Resource Conservation Board (ERCB) Directive 010, Appendix B, which allows it to sell casing in grades H40, J55 and L80 supplied from its welded facilities in Welland, Ontario. ERCB Directive 010 mandates upgraded material specifications for casing materials manufactured in accordance with API Specification 5CT, when used in sour service.
Ron Bedard, Lakeside Steel's President and COO stated, "Lakeside continues to produce, high quality, Made in Canada, leading edge technology products required by our customer base in Western Canada. We continue to focus on higher value added products, best in class quality and enhanced customer service. We are pleased to be the supplier of choice for many supply yards in Western Canada. In association with this announcement, we are pleased to announce Global Steel Ltd. of Calgary, Alberta as Lakeside's first Stocking Distributor of Lakeside Steel's Directive 010 OCTG product line."
About Lakeside Steel Inc.
Lakeside Steel is a 2010 TSX Venture Exchange 50 company and the parent company of Lakeside Steel Corp. ("Lakeside"). Lakeside, located in Welland, Ontario, is a diversified steel pipe and tubing manufacturer. Lakeside's list of customers includes large oil and gas, mining, automotive and commercial and industrial supply companies. In addition to supplying its products in these industries, Lakeside manufactures pipe and mechanical tubing for the resale market, which is sold to distributors in Eastern Canada and the Northeastern United States. Lakeside manufactures a variety of products for these industries including oil well tubing and casing, mechanical tubing, pressure tubing, automotive tubing, hollows for redraw, line pipe, heating and plumbing pipe, drill rod and specialty tubing. Lakeside serves customers worldwide, either directly or indirectly, in Canada and the United States.
This press release may contain forward-looking statements with respect to the Company, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in the Management's Discussion and Analysis and Filing Statement of the Company which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Company has no obligation to update such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Lakeside Steel was recognized as a TSX Venture 50(R) company in 2010. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.
SOURCE LAKESIDE STEEL INC.
For further information: For further information: Ron Bedard, President and Chief Operating Officer, Lakeside Steel Inc., (905) 735-7473 ext 7294, Fax: (905) 735-9069, e-mail: firstname.lastname@example.org; Ken Hunter, Chief Financial Officer, Lakeside Steel Inc., (905) 735-7473 ext 7218, Fax: (905) 735-9069, e-mail: email@example.com