Chaparral Steel Company and Gerdau Ameristeel Corporation Announce Approval from the Federal Cartel Office of the Federal Republic of Germany
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MIDLOTHIAN, TX, and TAMPA, FL, Sept. 4 -- Chaparral Steel Company (NASDAQ:CHAP) and Gerdau Ameristeel Corporation (NYSE:GNA)(NYSE: TSX:)(NYSE:GNA) today announced that they have received a letter dated September 3, 2007 from the Federal Cartel Office of the Federal Republic of Germany, clearing the transaction. The consummation of the merger remains subject to customary conditions, including adoption of the Agreement and Plan of Merger by Chaparral's stockholders.
About Chaparral
Chaparral Steel Company, headquartered in Midlothian, Texas, is the second largest producer of structural steel beams in North America. Chaparral is also a supplier of steel bar products. In addition, Chaparral is a leading North American recycling company. Additional information may be found on Chaparral's web site at www.chapusa.com.
About Gerdau Ameristeel
Gerdau Ameristeel is the second largest mini-mill steel producer in North America with annual manufacturing capacity of over 9.0 million tons of mill finished steel products. Through its vertically integrated network of 17 mini-mills (including one 50% owned joint venture mini-mill), 17 scrap recycling facilities and 52 downstream operations, Gerdau Ameristeel serves customers throughout North America. The company's products are generally sold to steel service centers, steel fabricators, or directly to original equipment manufactures for use in a variety of industries, including construction, cellular and electrical transmission, automotive, mining and equipment manufacturing. The common shares of Gerdau Ameristeel are traded on the New York Exchange and the Toronto Stock Exchange under the symbol GNA.
Additional Information and Where to Find It
In connection with the proposed transaction with Gerdau Ameristeel Corporation, Chaparral filed a definitive proxy statement with the Securities and Exchange Commission on Schedule 14A on August 10, 2007. INVESTORS AND SECURITY HOLDERS ARE STRONGLY ADVISED TO READ THE PROXY STATEMENT, BECAUSE IT CONTAINS IMPORTANT INFORMATION. Investors and security holders may obtain a free copy of the proxy statement and other documents filed by the Company at the Securities and Exchange Commission's Web site at www.sec.gov/. The proxy statement and such other documents may also be obtained free of charge by directing such request to Chaparral Investor Relations, telephone (972) 779-1032 or on Chaparral's web site at www.chapusa.com.
Source: Gerdau Ameristeel Corporation
CONTACT: Chaparral: Cary D. Baetz at (972) 779-1032; Gerdau Ameristeel:
Barbara R. Smith at (813) 319-4324
