Harris Steel Group Inc., or "Harris Steel" announced today that it has been advised that the Minister of Industry has granted his approval under the Investment Canada Act in connection with the $46.25 cash offer by a subsidiary of Nucor Corporation to acquire all of the common shares of Harris Steel (the "Offer"). Harris Steel has been advised all regulatory approvals have now been obtained and the Offer is set to expire as scheduled on March 2, 2007.
About Harris (HSG:TSX)
Harris Steel Group Inc. is engaged in the fabrication and placing of concrete reinforcing steel, including epoxy-coated reinforcing steel; the design and installation of concrete post-tensioning systems; the manufacture and distribution of wire and wire products, welded wire mesh and cold finished bar; and the manufacture and distribution of heavy industrial steel grating, aluminium grating and expanded metal. These operations serve customers throughout Canada and the United States. Harris Steel Group also participates in steel trading on a worldwide basis, and in the distribution of reinforcing steel and allied products to U.S. customers, primarily involved in single family residential construction.
Harris became a public company in 1967 and has paid a quarterly dividend consistently since 1972. Approximately 27 million shares are listed on the Toronto Stock Exchange under the symbol HSG.
About Nucor (NYSE:NUE)
Nucor and affiliates are manufacturers of steel products, with operating facilities in nineteen states in the United States. Products produced are: carbon and alloy steel - in bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. Nucor is the United States' largest recycler. -- www.cnxmarketlink.com
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