STELAX Industries, Ltd. Announces an Agreement for 44,000 Pounds of NUOVINOX Rebar for the State of North Dakota Department of Transportation
DALLAS, Feb. 10 /PRNewswire/ -- STELAX Industries, Ltd. (OTC Bulletin Board: STAX) announces it has received an agreement for 44,000 pounds of NUOVINOX Reinforcing bar (Rebar) for the State of North Dakota Department of Transportation. The rebar will be used as a non-corrosive solution in the bridge construction on Interstate 94 near Valley City. The project is scheduled for a year 2000 installation.
NUOVINOX is carbon steel that is cladded with stainless steel and is priced substantially lower than solid stainless steel.
Clayton Schumaker, North Dakota Department of Transportation said, "The deterioration of reinforced concrete structures has long been a problem to highway agencies. The major cause of the deterioration results from corrosion of the steel due to chlorides. The cost of using solid stainless steel rebar is prohibitive for highway construction. North Dakota is delighted to find a product like NUOVINOX that appears to be a cost effective and revolutionary new method of combating the effects of chloride intrusion."
Harmon Hardy, President and CEO of STELAX Industries, Ltd., said, "NUOVINOX continues to gain acceptance as the standard for long-life, non-corrosive rebar in concrete construction. We are pleased to provide the State of North Dakota with an economical solution to corrosion protection for their upcoming bride construction and we welcome them to our growing DOT family."
Headquartered in Dallas, Texas, STELAX Industries' main activity is a specialized steel mill located in South Wales (United Kingdom). In addition to production of specialized steel products, it manufactures and markets a patented stainless steel alternative known as NUOVINOX.
For more Company Information, please visit the Company's Web Site: www.stelax.com.
The information provided in this Press Release contains forward-looking statements that involve risks and uncertainties. Statements made in this Press Release that are not historical facts are forward looking statements that are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995.
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SOURCE: STELAX Industries, Ltd.
CONTACT: Harmon Hardy, CEO and President of STELAX Industries, Ltd., 972-233-6041; or Jim Drewitz, Investor Relations, 817-430-3131, for STELAX Industries, Ltd. |
