Chaparral Steel Company and Gerdau Ameristeel Corporation Announce Approval from the Committee on Foreign Investment in the Unit
2007年9月1日 - 12:45AM
PRニュース・ワイアー (英語)
MIDLOTHIAN, Texas and TAMPA, Fla., Aug. 31 /PRNewswire-FirstCall/
-- Chaparral Steel Company (NASDAQ:CHAP) and Gerdau Ameristeel
Corporation (NYSE:GNANYSE:TSX:NYSE:GNA) today announced that they
received this morning a letter dated August 29, 2007 from the
Committee on Foreign Investment in the United States ("CFIUS")
stating that CFIUS has reviewed the information provided by the
companies in connection with the Agreement and Plan of Merger
signed by Chaparral, Gerdau Ameristeel and certain other parties,
and determined that there are no issues of national security
sufficient to warrant a second stage investigation under the
Exon-Florio Amendment to the Defense Product Act of 1950, as
amended. Accordingly, CFIUS has concluded its review of the
proposed transaction. The consummation of the merger remains
subject to customary conditions, including adoption of the
Agreement and Plan of Merger by Chaparral's stockholders. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050713/CHAPLOGO) Certain
statements contained in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to risks,
uncertainties and other factors, which could cause actual results
to differ materially from future results expressed or implied by
such forward-looking statements. In addition to those noted in the
statements themselves, any number of factors could affect actual
results, including, without limitation, the highly competitive
nature of the global steel industry and the availability of
competitive substitute materials; the cyclical nature of the steel
industry and the industries served by Chaparral and Gerdau
Ameristeel and economic conditions in North America and worldwide
steel imports and trade regulations; the substantial capital
investment and maintenance expenditures required in both
Chaparral's and Gerdau Ameristeel's respective businesses;
unexpected equipment failures, transportation disruptions or
production curtailments or shutdowns; increases in the cost of
steel scrap, energy and other raw materials; the ability to
renegotiate collective bargaining agreements and avoid labor
disruptions; the cost of compliance with environmental laws and
regulations; costs relative to competitors who have sought
bankruptcy protection; the ability to fund pension plans; the
deviation of actual results from estimates made in the preparation
of Chaparral's and Gerdau Ameristeel's respective financial
statements; the loss of key employees; the effects of the
consolidation of operations or of the steel industry, and the
ability to integrate newly-acquired businesses and achieve
synergies. Any forward-looking statements in this press release are
based on current information as of the date of this press release
and neither Chaparral nor Gerdau Ameristeel undertakes any
obligation to update any forward-looking statements to reflect new
information or future developments or events, except as required by
law. About Chaparral Chaparral Steel Company, headquartered in
Midlothian, Texas, is the second largest producer of structural
steel beams in North America. Chaparral is also a supplier of steel
bar products. In addition, Chaparral is a leading North American
recycling company. Additional information may be found on
Chaparral's web site at http://www.chapusa.com/. For further
information contact Cary D. Baetz at (972) 779-1032. About Gerdau
Ameristeel Gerdau Ameristeel is the second largest mini-mill steel
producer in North America with annual manufacturing capacity of
over 9.0 million tons of mill finished steel products. Through its
vertically integrated network of 17 mini-mills (including one 50%
owned joint venture mini-mill), 17 scrap recycling facilities and
52 downstream operations, Gerdau Ameristeel serves customers
throughout North America. The company's products are generally sold
to steel service centers, steel fabricators, or directly to
original equipment manufactures for use in a variety of industries,
including construction, cellular and electrical transmission,
automotive, mining and equipment manufacturing. The common shares
of Gerdau Ameristeel are traded on the New York Exchange and the
Toronto Stock Exchange under the symbol GNA. For further
information, contact Barbara R. Smith at (813) 319-4324. Additional
Information and Where to Find It In connection with the proposed
transaction with Gerdau Ameristeel Corporation, Chaparral filed a
definitive proxy statement with the Securities and Exchange
Commission on Schedule 14A on August 10, 2007. INVESTORS AND
SECURITY HOLDERS ARE STRONGLY ADVISED TO READ THE PROXY STATEMENT,
BECAUSE IT CONTAINS IMPORTANT INFORMATION. Investors and security
holders may obtain a free copy of the proxy statement and other
documents filed by Chaparral at the Securities and Exchange
Commission's Web site at http://www.sec.gov/. The proxy statement
and such other documents may also be obtained free of charge by
directing such request to Chaparral Investor Relations, telephone
(972) 779-1032 or on Chaparral's web site at
http://www.chapusa.com/. Participants in the Solicitation Chaparral
and its directors, executive officers and certain other members of
its management and employees may be deemed to be participants in
the solicitation of proxies from its stockholders in connection
with the proposed transaction. Information regarding the interests
of such directors and executive officers and information concerning
all of Chaparral's participants in the solicitation are included in
the proxy statement. The proxy statement is available free of
charge at the Securities and Exchange Commission's Web Site at
http://www.sec.gov/ and from Chaparral Investor Relations,
telephone (972) 779-1032 or on Chaparral's web site at
http://www.chapusa.com/.
http://www.newscom.com/cgi-bin/prnh/20050713/CHAPLOGO
http://photoarchive.ap.org/ DATASOURCE: Chaparral Steel Company
CONTACT: Barbara R. Smith, +1-813-319-4324, for Gerdau Ameristeel
Corporation; or Cary D. Baetz of Chaparral Steel Company,
+1-972-779-1032 Web site: http://www.chapusa.com/
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