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International Steel to Expand Operations at Cleveland Works
RICHFIELD, Ohio -- International Steel Group Inc. (NYSE:ISG) today announced it will expand operations at the company's Cleveland Works by converting an idled continuous anneal line to a hot-dip galvanizing line.The total cost of the project is likely to be $40 million, the company said, and result in at least 50 new jobs. The new line is expected to begin production by the fourth quarter of 2005, and have an operating capacity of about 500,000 tons per year."This investment represents a significant step in the growth of our operations at the Cleveland Works," said Rodney B. Mott, ISG president and chief executive officer. The workers who will start up the new line will be primarily the same union workers who idled the previous line for the former owner, LTV Steel Corp."The USW is proud to play an important role in providing the expertise to get this new line up and running," said Mark Granakis, president of United Steelworkers of America Local 979.The conversion project is located in a portion of the Cleveland Works that lies in the village of Cuyahoga Heights, and a package of "mutually beneficial" incentives was structured through negotiations with the village and the Cuyahoga Heights Schools, said William A. Brake, ISG vice president and general manager. "I want to express our appreciation for their support, which is an important factor in moving this project to reality," he noted.International Steel Group Inc. is one of the largest steel producers in the United States. The company produces hot-rolled, cold-rolled and coated sheets, tin mill products, carbon and alloy plates, wire rod, rail products and semi-finished shapes. Visit International Steel Group at www.intlsteel.com"