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Microcap & Penny Stocks : BYX- Bayou Steel -- Ignore unavailable to you. Want to Upgrade?

To: walt zweifel who wrote (22)	11/12/1997 8:23:00 AM
From: DJ Albers	Respond to of 101

Bayou Steel (Tennessee) Reopens Following Fire PR Newswire, Tuesday, November 11, 1997 at 17:01 HARRIMAN, Tenn., Nov. 11 /PRNewswire/ -- Bayou Steel Corp. (AMEX:BYX) reopened its merchant bar rolling mill in Harriman, Tennessee, on November 9, following an October 28 fire that suspended operations. A series of permanent and temporary repairs were made to expedite the mill's reopening and to minimize production and sales losses. The temporary repairs are expected to be made permanent during future outages of a short duration. "The cause of the fire remains under investigation, but it appears to have started when a heated steel bar came out of alignment with rolling equipment and came into contact with a high pressure oil line," said Jerry Pitts, president and COO. "The full extent of damage may not be known for some time while repairs continue." The company's insurance is expected to cover most of the damage and business interruption (less the deductible). 125 employees in Tennessee remained on the job for clean-up, repairs, and training. Pitts added that the Tennessee mill has resumed production at a time "when the market is strong and demand is high. We can sell all the merchant bar that we can produce." Bayou Steel Corporation (Tennessee) operates a rolling mill where merchant bar is produced. It is a wholly owned subsidiary of Bayou Steel Corporation of LaPlace, Louisiana, a steel minimill which produces light structural steel products. The company also operates three stocking locations along the inland waterway system near Pittsburgh, Chicago, and Tulsa. The common stock of Bayou Steel Corporation is traded on the American Stock Exchange under the symbol "BYX." SOURCE Bayou Steel Corporation -0- 11/11/97 /CONTACT: Charles Pizzo, Jr. of Pizzo & Rosenblum Public Relations, 504-525-7777, or pager: 800-617-5707, or e-mail: cpizzo@prprnet.com, for Bayou Steel Corp./ /Web site: prprnet.com