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Gold/Mining/Energy : STE-TSE STELCO BALANCE SHEET IMPROVING
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To: De Nardis who wrote (23)12/1/1997 1:53:00 PM
From: phoenix_investor  Read Replies (1) of 46
 
Canada NewsWire

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Attention Business Editors:

LAKE ERIE CASTER UPGRADE COMPLETE

HAMILTON, Ont., Dec. 1 /CNW/ - Stelco Inc. announced today that the $105
million upgrade and expansion at its Lake Erie Steel Company Ltd. subsidiary
is progressing on schedule. The construction and commissioning of the Slab
Caster, which is the major undertaking in the project, was successfully
completed on November 30, 1997. Slab quality and productivity from the
upgraded caster is excellent. Installation of the second casthouse at the
Blast Furnace is progressing on schedule with completion targeted for January,
1998.
As previously announced, this upgrade and expansion will increase the
production capacity of the Nanticoke facility by 20% and will position Lake
Erie Steel to continue to meet the growing demand for its high-quality hot
rolled coils.

----------------------------------------------------

Stelco Inc. and its affiliates are a group of market-driven,
technologically advanced businesses that are committed to maintaining
leadership roles as suppliers of high-quality steel products. These businesses
give Stelco a presence in six Canadian provinces and three states of the
United States. Consolidated sales in 1996 were $2.9 billion.

-30-

For further information: Gord Rich, Vice President and General Manager, Lake Erie Steel Company Ltd.,
Telephone: (519) 587-4541, Ext. 5150

This press release concerns more than one organization.
To view releases from one of these organizations, please select from below.
STELCO INC.
LAKE ERIE STEEL COMPANY LTD.




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