Birmingham Steel Corporation Announces Resignation of Director.Business Editors BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jan. 27, 2000 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 Robert D. Kennedy has resigned from the Company's Board of Directors. In his resignation letter, Kennedy stated that &uot;there is no more I can reasonably do in fulfilling my personal commitment as a transition director.&uot; In December 1999, Birmingham Steel began operating with new management and a reconstituted Board of Directors after a dissident group of shareholders was successful in removing former management in a proxy contest Proxy contest A battle for the control of a firm in which a dissident group seeks, from the firm's other shareholders, the right to vote those shareholders' shares in favor of the dissident group's slate of directors. Also called proxy fights. . Mr. Kennedy had served on the former Board and continued as a director pursuant to the terms of a compromise that ended the proxy contest. Birmingham Steel operates in the mini-mill sector of the steel industry and conducts operations at facilities located across the United States. The Company produces steel reinforcing bar, merchant products and SBQ SBQ Sociedade Brasileira de Quimica (Portugese) SBQ Special Bar Quality bar, rod and wire. 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 &uot;BIR.&uot; |
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