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Gold/Mining/Energy : Dofasco Inc (DFS on TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Letmebe Frank who wrote (3)	10/28/1997 5:09:00 PM
From: Scott Mc	Respond to of 27

Sorry, there was some tech tble and ended up missing most of it, however that nbr will allow you to call it and hear the bcast, the advantage is that you can zip through the bcast or relisten by using the (1 and 3 keys I think, i did that last quarter). Scott

To: Letmebe Frank who wrote (3)	12/17/1997 3:35:00 PM
From: Letmebe Frank	Read Replies (1) \| Respond to of 27

DOFASCO AND USINOR , PARTNERS IN BUILDING HOT DIP GALVANIZING LINE FOR AUTOMOTIVE MARKETS Hamilton, Ontario: The Board of Directors of Dofasco Inc. announced today, the Company's intention to proceed with the construction of a 72" wide hot dip galvanizing line that will be specifically designed to produce steel for exposed galvanized as well as galvannealed body panels for the automotive industry. The line will be built in Hamilton, and early estimates of the total capital cost range between $170 and $180 million Canadian. Dofasco has entered into a letter of understanding with the French flat rolled producer, Sollac, a division of Usinor Group, pursuant to which Sollac will have a 20% interest in the operations of the new hot dip facility. Usinor Group is Europe's second largest and one of the world's largest steel producers. Sollac is Europe's largest flat rolled steel producer. Dofasco will be the exclusive marketer of the line's output. Construction of the hot dip galvanizing facility will commence immediately with an expected start-up date by mid-1999. When the new line reaches full capability, it is expected to have an annual capacity of approximately 400,000 tons of coated product, increasing Dofasco's galvanize capability by more than 30%. Dofasco's President and CEO, John Mayberry, stated, "The addition of this very specialized galvanizing capability will further strengthen our position in a growing North American automotive industry and also provide a platform for further global opportunities as we look forward into the future." Mr. Mayberry added, "In particular, we are very pleased with this strategic alliance with Sollac, Europe's leading producer of exposed galvanized product. With Sollac's proven technology and capability to market this product in the European marketplace, and our know-how in North American markets, we feel confident in the success of this venture." Francis Mer, Chairman and CEO of Usinor Group stated, "We are very pleased to be allied with Dofasco, a recognized North American producer of high quality flat rolled steel. Our companies have much in common, both in our products and the markets that we serve, even though our markets are in different parts of the world." The new galvanizing line will be supported by existing Hamilton-based steelmaking, hot rolling and cold rolling facilities which will provide most of the material for the coating facility. When in full operation, the line is expected to provide between 60 and 70 jobs. Sollac is Europe's leading producer of flat rolled steels and one of the world's top-ranking manufacturers of hot rolled, cold rolled and coated products. Sollac's production in 1996 was in excess of 10 million tons, serving automotive, construction, packaging and appliance markets. Usinor Group is one the world's largest steel producers with production in excess of 15 million tons on sales of over $15 billion Canadian. Dofasco is a leading North American flat rolled steel producer with sales of nearly $3 billion Canadian and employing over 7,000 people. Products include hot rolled, cold rolled, tinplate and galvanized flat rolled steel products as well as tubular products, serving automotive, construction, package goods, appliance and pipe & tube markets.