March 29, 2006 — Grupo Simec, SA de CV announced the payment in full of the outstanding bank debt of its Republic Engineered Products subsidiary. Republic’s debt had maturities through 2009.

Republic’s debt represented a significant burden for the company’s development, reaching approximately US$ 1 billion by the year 2000. An improved financial structure and recent investments have resulted in improvements in productivity and yield that will allow Republic to take advantage of opportunities that at the moment appear in the global steel markets.

Through Republic, Simec and its parent, Industrias CH, SA de CV (ICH) are present in the largest automotive market in the world, where Republic has a position of leadership in the special bar quality (SBQ) segment. Together, Simec-Republic anticipates shipping 2.5 million tonnes of finished products in 2006, having become the largest producer of SBQ in North America.