TPi January 2011

news business & market

C$300mn credit facility for Evraz Inc GE Capital, Corporate Finance has announced that it is agent for a C$300 million asset-based credit facility to Evraz Inc NA Canada, a steel plate and pipe manufacturer.

Recycling Business. “We welcome the hard working employees of SOS Metals Island Recycling to our Schnitzer Steel family and look forward to developing an even closer bond with the Maui community.” “We will continue to be a household name for recycling in Maui,” said Sandy Shadrow, president of SOS Metals Island Recycling. “Schnitzer Steel and our employees remain committed along with our neighbours and leaders to keeping our beautiful island of Maui clean.” SOS Metals Island Recycling has been collecting, processing and recycling scrap metal from the Maui community for nearly five years at its current location. Terms of the transaction were not disclosed. GE Capital Markets served as joint lead arranger. Headquartered in Portland, Oregon, Evraz Inc NA Canada operates a steel making and rolling mill, several pipe mills and two cut-to-length facilities in western Canada. The company produces speciality and commoditysteel plateandpipeproducts, primarily serving oil and gas producers and distributors, service centres and fabricators in North America. “GE has a keen understanding of the steel business and made a significant financial commitment,” said Mike Rehwinkel, Evraz Inc NA president and

CEO. “This credit facility provides us with the liquidity and flexibility to meet our ongoing working capital needs.” “The steel industry is both capital intensive and cyclical,” said Tom Quindlen, president and CEO, GE Capital, Corporate Finance. “Meeting the industry’s financing needs requires experience, market knowledge and working closely with clients.”

Evraz Inc NA – USA www.evrazincna.com

GE Capital – USA www.gecapital.com

The loan will be used for working capital needs and other corporate purposes.

Schnitzer Steel acquires the assets of SOS Metals Island Recycling

Schnitzer Steel Industries, Inc has acquired substantially all of the assets of SOS Metals Island Recycling of Maui, Hawaii. longstanding commitment to Hawaii has contributed greatly to the diversity of our global platform, both in terms of supply and distribution,” said Tamara Lundgren, CEO of Schnitzer Steel Industries. “This transaction continues our strategy of expanding our metals recycling business in order to better serve our customers throughout the world.” “SOS Metals Island Recycling is a leading supplier of ferrous and non- ferrous materials, which strengthens our operations in Maui and all of the Hawaiian Islands,” said Don Hamaker, president of Schnitzer Steel’s Metals “Schnitzer Steel’s

Schnitzer Steel Industries, Inc is one of the largest manufacturers and exporters of recycled ferrous metal products in the United States, with 43 operating facilities located in 13 states and Puerto Rico, including seven export facilities located on both the East and West coasts as well as in Oahu, Hawaii and Puerto Rico. The company’s vertically integrated operating platform also includes its auto parts and steel manufacturing businesses. With an effective annual production capacity of approximately 800,000 tons, the company’s steel manufacturing business produces finished steel products, including rebar, wire rod and other speciality products.

Schnitzer Steel Industries, Inc – USA www.schnitzersteel.com

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January 2011 Tube Products International