Stelco Holdings Inc. is listed on the TSX under the symbol "STLC"
U. S. Steel Canada Acquires Pickle Line Assets in Nanticoke, Ontario
HAMILTON, Ontario, Aug. 29, 2008 /CNW/ -- U. S. Steel Canada Inc., a wholly owned subsidiary of United States Steel Corporation (NYSE: X), announced today that it completed the acquisition of three pickle lines in Nanticoke, Ontario, from Nelson Steel, a division of Samuel Manu-Tech Inc. Under terms of the agreement, U. S. Steel Canada has purchased the assets adjacent to U. S. Steel Canada's Lake Erie Works for a total of $37.5 million. "This investment in modern assets is further demonstration of U. S. Steel Canada's commitment to the Ontario economy and strengthens our position as a premier supplier of flat-rolled steel products to the North American market," said U. S. Steel Canada President and General Manager Douglas R. Matthews. U. S. Steel Canada expects the acquisition of the 1.2 million metric tons of pickling capacity from Nelson Steel to help to ensure the future competitiveness of both Lake Erie Works and Hamilton Works. Pickling is the process of cleaning hot-rolled steel coils before they are shipped to customers or further processed into higher value-added steels. The achievement of the cost and quality improvement expectations will depend upon many factors, some of which are beyond the control of United States Steel Corporation. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, cautionary statements identifying important factors, but not necessarily all factors, that could cause actual results to differ materially from those set forth in the forward-looking statements have been included in the Form 10-K of U. S. Steel for the year ended December 31, 2007, and in subsequent filings for U. S. Steel with the United States Securities and Exchange Commission. For more information about U. S. Steel Canada, visit http://www.usscanada.ca. Canada