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Steel Technologies Announces Planned Expansion to New Operations in Juarez, Mexico

Posted on: Wednesday, 31 October 2007, 18:00 CDT

Steel Technologies Inc. today announced that its new, $8.5 million facility in Juarez, Mexico, has begun initial operations with slitting and storage capabilities. Plans also were announced to expand capacity and service capabilities with the addition of rail service and a new multi-blanking line.

"We are extremely pleased with the start-up and the strong customer reception of our new, world-class steel processing center that has begun serving customers in the fast-growing manufacturing base in the Juarez area," said Carlos von Rossum, G., General Director for Steel Technologies de Mexico.

The Juarez facility expands the Company's Mexican platform to six facilities. Steel Technologies now operates processing facilities in Monterrey, Matamoros and Juarez, and distribution centers in Queretaro, Puebla and Saltillo.

Steel Technologies entered the Mexico market in 1994 and has continued to grow through Greenfield expansion. "We intend to continue to build strategically upon our North American platform of operations to best serve our customers and view the Mexico expansion as a key part of this strategy," commented Brad Ray, CEO of Steel Technologies.

Steel Technologies Inc., a wholly owned subsidiary of Mitsui & Co. (U.S.A.), Inc. processes flat-rolled steel to specific thickness, width, temper, finish and shape requirements for automotive, appliance, lawn and garden, office furniture, agriculture, railcar, construction, hardware, and consumer goods. Steel Technologies has 25 facilities, including its joint-venture operations, located throughout the United States, Canada and Mexico. More information about the Company may be found on the World Wide Web at www.steeltechnologies.com.

Statements contained in this release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties (contained in the Company's SEC filings), which could cause actual results to differ materially from those projected. SEC filings may be obtained from the SEC or by contacting the Company.

Source: Business Wire

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