Republic Announces Reaching $100 Million in Plant Upgrades

Included are enhancements to the Canton, and Lorain, Ohio, and Lackawanna, N.Y., operations, expected to be complete later this year.

FAIRLAWN, Ohio (May 14, 2007) -- Republic Engineered Products, North America’s largest producer of special bar quality (SBQ) steel, today announced that since Republic became part of Industrias CH, S.A. de C.V. (ICH) and Grupo Simec in July 2005, new capital investments totaling more than $100 million have been made in its facilities.

Currently, projects are under way at the Canton Bloom Caster, Canton medium and large product inspection facilities, Lorain bar mills (20” and 9/10” mills) and Lackawanna bar mill (13” mill). These investments, totaling approximately $10.5 million, are being made to streamline process routings, increase and improve in-line inspection/detection systems and eliminate the need for certain additional processing. Republic is not disclosing additional specifics of the projects for competitive reasons.

The latest investments are part of Republic’s continuing strategy to remain the SBQ leader by providing defect-free products to its customers.

“These projects demonstrate our determination to make the necessary investments to strengthen long-term relationships with our customers,” said Jaime Vigil, Republic’s President and CEO. “We intend to continue to provide the best SBQ products and be the supplier of choice in a very competitive marketplace.

“Our technology relationship with Kobe Steel, coupled with our long-standing customer relationships, provides us with what we need to make the right investments to maintain and grow our business across all market segments,” Vigil said.

Republic Engineered Products, Inc., is North America’s leading supplier of special bar quality (SBQ) steel, a highly engineered product used in axles, drive trains, suspensions and other critical components of automobiles, off-highway vehicles and industrial equipment. With headquarters in Fairlawn, Ohio, the company operates steelmaking centers in Canton and Lorain, Ohio, and value-added rolling and finishing facilities in Canton, Lorain and Massillon, Ohio; Lackawanna, N.Y.; Gary, Ind.; and Hamilton, Ontario. Republic employs approximately 2,500 people.

Published on 2007-05-14

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