SeverCorr Announces Business Partner to Build on Next-Generation Mill Site

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SeverCorr -- America’s newest steel-producing company -- announced today that Kenwal Steel Corporation has agreed to build a downstream processing and distribution facility next to the SeverCorr plant now under construction near Columbus, Mississippi.

SeverCorr – America’s newest steel-producing company – announced today that Kenwal Steel Corporation has agreed to build a downstream processing and distribution facility next to the SeverCorr plant now under construction near Columbus, Mississippi.

“When we decided to build a next-generation steel mill, we also decided to create next-generation relationships with the downstream channel,” said Michael Wagner, Chief Commercial Officer of SeverCorr. “So we selected a site with room for partners to build processing and distribution facilities. We are pleased to welcome Kenwal as one of our first neighbors.”

Kenwal, based in Dearborn, Michigan, is a full service steel processing company that provides a wide range of flat rolled steel products and services to various industries, including automotive, electronics, appliance, tubing, major equipment manufacturers, and other steel related businesses. The new facility in Columbus will feature state-of-the-art, surface-critical slitting and packaging systems with a broad range of coil-to-coil processing capabilities. The facility is scheduled to become operational in the late spring of 2007.

According to Kenneth Eisenberg, Chairman and CEO, of Kenwal, “We are already serving customers in the South, and SeverCorr’s announcement made this an opportunity that was just too good to miss. SeverCorr’s commitment to building a tightly-integrated working relationship with their mill operations will provide a new level of service to our steel customers.”

Kenwal will build their first company facility in the southern tier of the US - a 140,000 square foot facility with rail and truck shipping/receiving docks, supported by 44-ton cranes that can accommodate SeverCorr’s large-coil production capabilities.

Kenwal’s service capabilities will include:

  •     A light-gauge slitting system that will focus on cold-rolled and coated materials from .010 to .060 thick, as well as HRP&O from .055 to .100 thick in widths up to 72 inches.
  •     A heavy-gauge slitter that will run largely unexposed materials such as HRB, and HRP&O from .070 to .375 thick in widths up to 72 inches.

An automated packaging line will complement the slitters, to accommodate specific customer needs on all slit coil requirements.

The new Kenwal site will be located on a portion of the 1400-acre megasite that SeverCorr has set aside for business partners.

About SeverCorr LLC

SeverCorr was formed in 2003 to design, engineer, build and operate a state-of-the-art steel facility to service growing manufacturing opportunities in the Southern US. In October of 2005, SeverCorr broke ground on a next-generation steel mill near Columbus, Mississippi. When complete in mid-2007, the plant will produce 1.5 million tons of high-quality steels a year for use in the automotive, building, agricultural, pipe & tube, and appliance industries. Future expansion includes a second production line that will double capacity, as well as space for production partners and manufacturers on the company’s 1400-acre megasite.

About Kenwal

Kenwal Steel Corp. will celebrate its 60th year in business in 2007, and remains dedicated to a Tradition of Excellence with a History of Innovation that has served its customers well. Today, The Kenwal Steel Group is a collection of companies providing best-in-class flat rolled steel products and services from processing facilities in the Midwest, and Canada. The Company remains committed to growth as it reaches out to meet the ever changing needs of an expanding customer base.

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Mark Bula
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