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Gold/Mining/Energy : STE-TSE STELCO BALANCE SHEET IMPROVING -- Ignore unavailable to you. Want to Upgrade?

To: De Nardis who wrote (23)	12/1/1997 1:53:00 PM
From: phoenix_investor	Read Replies (1) \| Respond to of 46

Canada NewsWire Give us your message. We'll give you the world. 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. General Inquiries cnw@newswire.ca Technical Issues webmaster@newswire.ca