BIRMINGHAM STEEL CORPORATION COMPLETES SALE OF MINE ROOF BOLT BUSINESS.BIRMINGHAM, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--March 14, 1995--Birmingham Steel Corporation (NYSE NYSE See: New York Stock Exchange :BIR BIR British Institute of Radiology BIR Bureau of Internal Revenue BIR Bureau of International Recycling BIR Baculovirus IAP Repeat BIR Biomedical Imaging Resource BIR Bureau of Intelligence and Research (US State Department) ) today announced that it has completed the sale of its mine roof bolt bolt Mechanical fastener, usually used with a nut, for connecting two or more parts. Bolted joints can be readily disassembled and reassembled; hence bolts or screw fasteners are used more than other types of mechanical fastener. business unit to Excel Mining Systems, Inc., a mine roof bolt manufacturer headquartered in Cadiz, Ohio Cadiz is a village in Harrison County, Ohio, United States. The population was 3,308 at the 2000 census. It is the county seat of Harrison CountyGR6. Geography Cadiz is located at (40.270713, -80. . Birmingham Steel reported in December that it had signed a letter of intent with Excel to sell substantially all of the assets of the mine roof support business unit. In fiscal 1994, mine roof support sales accounted for approximately $76 million of Birmingham Steel's sales of $703 million. James A. Todd, Jr., Chairman and Chief Executive Officer, stated, "Under the terms of the definitive agreement, Excel will purchase a majority of the steel required by Birmingham's former mine roof production operations and a significant portion of the steel required by its other operations. As previously stated, the sale of the bolt operations will allow Birmingham Steel to concentrate exclusively on our core steel businesses and future opportunities in the steel industry." Birmingham Steel Corporation operates steel mini-mills producing primarily steel reinforcing bar and merchant products, and also specializes in manufacturing high-quality rod and wire from semi-finished billets at its American Steel & Wire subsidiary. The common stock of Birmingham Steel Corporation is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "BIR." CONTACT: Birmingham Steel Corporation, Birmingham J. Daniel Garrett, 216/429-7640 |
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