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International Steel Group to Restart Burns Harbor Plate Mill
"RICHFIELD, Ohio -- International Steel Group Inc. plans to restart its idled 110-inch plate mill at its Burns Harbor facility in Burns Harbor, Ind., officials announced earlier today. The mill is expected to begin production early in the second quarter of 2005 and to employ an additional 80 workers. Burns Harbor, with 3,700 employees, is ISG's largest plant.Also today, officials announced that the company has received early termination of the waiting period under Hart-Scott-Rodino Act for the previously announced merger of ISG and Ispat International N.V. On Dec. 17, Ispat announced completion of its acquisition of LNM Holdings N.V. and the name change to Mittal Steel Co. N.V. The merger of ISG and Mittal Steel is subject to approval by the shareholders of ISG and Mittal Steel and satisfaction of other customary closing conditions. The transaction is expected to be completed by the end of the first quarter of 2005.Regarding the Burns Harbor restart, "Restarting our 110-inch plate mill is another exciting advancement in the growth of our business," said Rodney B. Mott, ISG president and chief executive officer. "Our decision to return this mill to operation is driven by increasing customer demand and our desire to quickly respond to the needs of our valued customers. This restart will provide ISG additional flexibility to better meet our customers' growth and project opportunities."The 110-inch plate mill, one of the most modern in North America, is capable of producing carbon, high-strength low-alloy and alloy plate. Markets for these products represent a wide range of industries, including rail, construction, shipbuilding, oil and gas exploration and production, and machinery, all of which are currently served by ISG. The ISG Plate Division also is a major supplier of armored plate products that are used to protect the U.S. Armed Forces serving in Iraq and elsewhere."The restart of the 110-inch plate mill, while offering long-term suitable employment to our members, is very positive news for our employees and our customers, as well," said Paul Gipson, president, United Steelworkers of America Local Union 6787. "For more than a decade, the domestic plate industry has been fragmented in a weak market. The continuing consolidation of the steel industry has led to a more stable environment for the operation of this mill. The start-up of this modern facility further validates the successful partnership forged between the USWA and ISG."Visit International Steel Group Inc.: www.intlsteel.com"