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Republic Announces Purchase
of Hamilton Facility

Jan. 30, 2004 — Republic Engineered Products, Inc. announced the purchase of the Canadian Drawn Steel plant in Hamilton, Ont., from the estate of Republic Technologies International. The newly formed subsidiary will be called Republic Canadian Drawn, Inc. Terms of the transaction were not disclosed.

"Hamilton will continue to be a key part of Republic Engineered Products' future success in the cold finished bar market," said Joseph F. Lapinsky, President and CEO. "Hamilton will round out our capabilities in this product line and help ensure we continue to produce the most complete range of carbon, alloy and free-machining products."

Instrumental in the deal was the prior ratification by the United Steelworkers of America of a new labor agreement that went into effect with the purchase. The new agreement will help ensure the Hamilton plant's competitiveness.

The Hamilton plant, which primarily services the automotive sector, employs about 80. The plant produces special bar quality steel in rounds from 1/4 to 4 inches, hexagons from 1/4 to 2-1/8 inches, squares from 3/16 to 2-3/4 inches, as well as flats and special shapes. Hamilton applications include transmission, engine and steering components, oil and gas valve fittings, water pump, shock and wiper systems, air bag components and u-bolts.

The Hamilton plant was founded in 1904 as a family-owned business, Canadian Drawn Steel Co. The plant was sold to Stelco in 1963, and became Canadian Drawn Works. Bliss & Laughlin bought the plant in 1989, and Bliss was acquired in 1996 by Bar Technologies. The plant became part of Republic Technologies International when that company was created in the 1998 merger of BarTech and Republic Engineered Steels.

Republic Engineered Products Inc.'s Canadian subsidiary obtained an option to purchase the Hamilton assets from Canadian Drawn Steel Co., a subsidiary of Republic Technologies International, as part of the recent transaction that formed Republic on December 19, 2003.

Republic Engineered Products, Inc. is a leading North American supplier of special bar quality (SBQ) steel. With headquarters in Fairlawn, Ohio, the company operates steelmaking centers in Canton and Lorain, Ohio, and value-added rolling and finishing facilities in Canton, Lorain and Massillon, Ohio; Lackawanna, N.Y.; and Gary, Ind. Republic employs approximately 2,300 people.

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