Published:
Gerdau Ameristeel Announces Approval of Expansion of Jacksonville Recycling Mill
TAMPA, FL, July 3 /PRNewswire-FirstCall/ - Gerdau Ameristeel Corporation
(NYSE: GNA; TSX: GNA) announced today that it has approved the first two
phases of the previously announced expansion of itsJacksonville, Florida
steel mill. The total expansion project is planned to result in a melting and
rolling capacity in excess of 1.0 million tons per year in rebar products.
"With this expansion, ourJacksonville facility will be positioned to
serve needs not only inFlorida but also in the greater Southeast and Southern
regions ofthe United States," said Jim Kerkvliet, VP Sales and Marketing,
Gerdau Ameristeel. Engineering, equipment procurement and subsequent
construction will begin immediately.
"This expansion is part of the total capital strategy Gerdau Ameristeel
has developed for our core products such as rebar, structural, merchants and
wire rod," said Terry Sutter, Chief Operating Officer, Gerdau Ameristeel. "We
are leaders in these products and we are committed to becoming the 'Supplier
of Choice' for our customers."
"We have to earn our customers' business each and every day and that means
leading with world-class quality, on-time delivery and capacity to meet their
growth needs," added Sutter.
About Gerdau Ameristeel
Gerdau Ameristeel is the second largest mini-mill steel producer inNorth
America with annual manufacturing capacity of approximately 12 million tons of
mill finished steel products. Through its vertically integrated network of 19
mini-mills (including one 50% owned joint venture mini-mill), 19 scrap
recycling facilities and 65 downstream operations, Gerdau Ameristeel serves
customers throughoutUnited States andCanada. The company's products are
generally sold to steel service centers, steel fabricators, or directly to
original equipment manufactures ("OEMs") for use in a variety of industries,
including non-residential, infrastructure, commercial, industrial and
residential construction, metal building, manufacturing, automotive, mining,
cellular and electrical transmission and equipment manufacturing. Gerdau
Ameristeel's common shares are traded on the New York Exchange, and the
Toronto Stock Exchange under the symbol GNA.
SOURCE Gerdau Ameristeel Corporation
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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