Fire Interrupts Production at
02.05.2006 20:12:00
No one was seriously hurt when a ladle descended
unexpectedly late Friday and dumped more than 200 tons of molten iron to the
shop floor.
One employee sustained minor injuries; another was taken to
a hospital for observation after being shaken up by the incident. Both were
released and cleared for work.
However, the resulting fire caused significant damage before
being extinguished about four hours later.
"Most importantly, I was very relieved to learn that
there were no serious injuries," said Louis L. Schorsch,
president and chief executive officer of Mittal Steel
USA.
"However, our preliminary assessment indicates that No.
3 steel production will be down for about 30 days, which translates into about
300,000 tons of steelmaking."
Schorsch said the company is
confident that it will continue to meet the needs of customers and restore
production at No. 3 steel production as quickly as possible.
"We are still in the very early stages of our
assessment; but already our entire organization is being mobilized in an
attempt to minimize the impact of this incident on our customers," he
said.
Preliminary reports indicate that a crane equipment failure
caused the ladle to descend as it was moving toward a steelmaking furnace, and
the ladle's tilting mechanism engaged the pouring hook hoist on the way down.
The company expects the damage and losses associated with
business disruption to be covered by insurance.
About Mittal Steel
Mittal Steel USA, with its
affiliates, is the largest steel producer in North America and the largest
integrated steel producer in the
About Mittal Steel
Mittal Steel Company is the
world's largest and most global steel company. The company has operations in 16
countries, on four continents. Mittal Steel
encompasses all aspects of modern steelmaking, to produce a comprehensive
portfolio of both flat and long steel products to meet a wide range of customer
needs. It serves all the major steel consuming sectors, including automotive,
appliance, machinery and construction.
For 2005, Mittal Steel had
revenues of US $28.1 billion and steel shipments of 49.2 million tons. The
company trades on the New York Stock Exchange and the Euronext
Amsterdam under the ticker symbol "MT."
Forward-Looking Statements
This communication contains forward-looking information and
statements about Mittal Steel Company N.V. and Mittal Steel USA Inc. Forward-looking statements are
statements that are not historical facts. These statements include financial
projections and estimates and their underlying assumptions, statements
regarding plans, objectives and expectations with respect to future operations,
products and services, and statements regarding future events and performance.
Forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995 are generally identified by the words "believe,"
"expect," "anticipate," "target" or similar
expressions. Although Mittal Steel USA's management
believes that the expectations reflected in such forward-looking statements are
reasonable, investors and holders of Mittal Steel
USA's securities are cautioned that forward-looking information and statements
are subject to various risks and uncertainties, many of which are difficult to
predict and generally beyond the control of Mittal
Steel USA, that could cause actual results and developments to differ
materially from those expressed in, or implied or projected by, the
forward-looking information and statements. These risks and uncertainties
include those discussed or identified in the public filings with the SEC made
or to be made by Mittal Steel USA, including on Form
10-K. Mittal Steel USA undertakes no obligation to
publicly update its forward-looking statements, whether as a result of new
information, future events, or otherwise.
Quelle: Finanzen.net / Aktiencheck.de AG
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