Novamerican Steel Becomes Barzel Industries
02/16/2009 - Novamerican Steel announces that it has changed its name to Barzel Industries Inc.
Barzel Industries Inc., formerly known as Novamerican Steel Inc. announced that it has changed its name from Novamerican Steel Inc. to Barzel Industries Inc.
The company noted that the word Barzel means “steel” in many variations and languages. Similar sounding words representing various metals and the art of metalworking are also found in modern Latin (ferrous), Arabic and Indian-derivative languages. The company’s ongoing implementation of its systemic management methodology, The Decalogue™, also symbolizes its evolution for organizations and their relationship with metals.
“Today, 30 years after the birth of the company, Novamerican Steel is shedding the final vestiges of its out-dated past and publicly marking the start of our very different journey,” sated Corrado De Gasperis, Barzel’s CEO. “Our focus is on the needs of our customers and we are demonstrating that reliability and quality of goods must not come at the expense of speed of delivery. Our goal is to maximize the throughput (that is, the speed at which we generate cash through sales) from our one, fully integrated network of processing, manufacturing and distribution facilities.”
The company designed a new logo as a steel ribbon in the form of a Möbius strip, a mathematical curiosity that has no beginning or end and no “correct” or right-side-up orientation. The company said the new log represents its organizational model, which is a fully interdependent system, meaningful only in its entirety. The logo also reflects the company’s capabilities in shaping and forging metals.
Barzel’s common stock, $0.001 par value and its warrants to purchase one share of Common Stock will continue to trade on The Nasdaq Capital Market. The ticker symbols “TONS” and “TONSW,” respectively, will change, effective February 17, 2009, to “TPUT” and “TPUTW,” respectively.
Headquartered in Norwood, Mass., with operational hubs in Mississauga, Ontario and Montreal, Que., Barzel Industries operates a network of 17 manufacturing, processing and distribution facilities in the United States and Canada. Through an innovative management system that includes close statistical monitoring and analysis of our plant capabilities, we can service our customers with speed, quality and reliability. With a long tradition of quality service, the company offers a wide range of metal processing solutions to a variety of industries. The company’s systemic approach has enabled it to become a well-diversified, multi-process provider of value-added services. The company is one of two independent continuous process picklers in Canada, and its in-line temper mill, which became operational in 2005, makes it the only provider of this service in Canada that is not integrated with a primary steel producer.
