Dofasco Tubular Products Announces Definitive Agreement to Sell Elizabethtown Stainless Tube Making Facility

HAMILTON, ON, Aug. 8 -- Dofasco Tubular Products Corporation today announced the signing of a definitive purchase agreement on the sale of its Elizabethtown, Kentucky stainless tube making facility to Samuel Manu-Tech Inc. of Mississauga, Ontario.

After a strategic and operational review of its business, Dofasco Tubular Products engaged in the sale of its Elizabethtown stainless steel tubing facility in order to focus on its core carbon steel businesses of Mechanical and Automotive tubing.

Bill Chisholm, President of Dofasco Tubular Products states, "We are pleased to be able to sell this facility to a company of Samuel Manu-Tech's reputation and expertise. Although stainless tubing did not fit with our core business, it is a specialty product that is an excellent fit with the Samuel portfolio."

Dofasco Tubular Products is a wholly owned subsidiary of Dofasco Inc. a leading North American steel solutions provider and member of the ArcelorMittal group. Product lines include hot rolled, cold rolled, galvanized, Extragal(TM), Galvalume(TM) and tinplate flat rolled steels, as well as tubular products and laser-welded blanks. Dofasco's wide range of steel products is sold to customers in the automotive, construction, energy, manufacturing, pipe and tube, appliance, packaging and steel distribution industries.

Source: Dofasco Inc.

CONTACT: Tom Ferns, (905) 548-7200 ext. 2200; Dale Laidlaw, (905) 548-7050

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