Castrip LLC and Hatch Associates Sign Agreement.

Business Editors

CHARLOTTE, N.C.--(BUSINESS WIRE)--Feb. 4, 2003

Castrip LLC and Hatch Associates of Toronto, Canada, a leading supplier of engineering services to the metallurgical industry, have signed a cooperation agreement for engineering services related to the implementation of Castrip(R) technology.

Under terms of the agreement, Hatch will provide engineering services, marketing assistance and feasibility studies for prospective Castrip technology licensees on a non-exclusive basis. In addition, Hatch can provide EPCM or turnkey services for project implementation.

"This agreement with Hatch is the next logical step as we build a network of partners to implement this exciting new technology. Hatch has a wealth of experience in all aspects of major project development in the metallurgical industry. We are pleased to have Hatch as a partner and expect to work closely with them as we bring the Castrip process to the next stage - licensing," said Richard Wechsler, Castrip LLC president.

Geoff Knox, Hatch's global managing director of the Iron & Steel business unit, said "Hatch has a long history in strip casting, beginning with Project M, a BHP Engineering undertaking in Australia. We believe the Castrip technology is a major part of the future of flat-rolled steel, and we're pleased to be working with Castrip LLC to ensure the technology's effective implementation worldwide."

Although the agreement with Hatch is important for both companies in the development of opportunities for twin-roll casting of steel sheet, Wechsler noted that the deal is non-exclusive. This allows clients optimum flexibility in the implementation of the technology at their facilities.

"It's important for Castrip LLC to maintain good relationships with both local and global engineering companies at this point in the commercialization of the technology," Wechsler added.

Based in Charlotte, NC, Castrip LLC (www.castrip.com) is a joint venture of Nucor Corporation, BHP of Australia and Ishikawajima-Harima Heavy Industries (IHI) of Japan. The partnership was formed to market and license the intellectual property developed jointly by its three owners, related to the twin-roll casting of carbon and stainless steels. Castrip LLC currently holds more than 1,500 patents and patents pending related to strip casting. The first commercial plant utilizing Castrip technology was built by Nucor in Crawfordsville, Ind., and began hot commissioning in May 2002.

Hatch (www.hatch.ca) is a leading global consulting, engineering, technologies, information systems, project and construction management organization serving clients in the mining, minerals, metals, industrial infrastructure and energy sectors. Hatch is an employee-owned company of more than 4,000 employees. Programs and projects under management have an aggregate value in excess of $15 billion.

CASTRIP(R) is a registered trademark of Castrip LLC.