March 6, 2006 — Oregon Steel Mills, Inc. has signed an agreement with Bredero Shaw, a division of ShawCor Ltd., to build a pipe coating facility adjacent to Oregon Steel's Portland, Ore., facility.

The new coating facility will be installed adjacent to Oregon Steel's new 60-inch API large diameter line pipe manufacturing mill that is currently under construction. Bredero Shaw will supply coating services for fusion bond epoxy corrosion coatings and internal linings, in exchange for the exclusive right to provide Oregon Steel with all of its coating requirements at the new pipe mill, the use of land and buildings for the coating facility and the provision of pipe handling services.

Oregon Steel’s new pipe mill is expected to begin production in July 2006.

Oregon Steel Mills, Inc. is organized into two divisions. The Oregon Steel Division produces steel plate, coil, welded pipe and structural tubing from plants located in Portland, Ore., and Camrose, Alta., Canada. The Rocky Mountain Steel Mills Division, located in Pueblo, Colo., produces steel rail, rod, bar, and tubular products.